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Agenda - City of Dallas

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Exhibit A - Skillman Corridor TIF District<br />

FY 2011 Annual Report<br />

• To attract new private development in the Skillman Corridor TIF District totaling<br />

approximately 740,000 square feet <strong>of</strong> new or upgraded retail space and 6.4<br />

million square feet <strong>of</strong> new or upgraded residential development including town<br />

home, multi-family, and single-family projects.<br />

1,091,450 square feet <strong>of</strong> new and upgraded retail space is completed or<br />

underway (exceeding the goal by 47%). Approximately 2,439 residential<br />

units are completed, under construction or planned, approximately<br />

2,146,320 square feet (34% <strong>of</strong> the goal).<br />

Elevation for LHTC Phase I<br />

residential/retail project<br />

• To focus on encouraging the redevelopment <strong>of</strong> properties on the Skillman Street<br />

corridor and the existing DART Light Rail Station at LBJ and Skillman to increase<br />

density and provide enhanced urban design for the District.<br />

The TIF Board adopted a Skillman Corridor TIF District Strategic<br />

Implementation Plan to better focus redevelopment activities and TIF<br />

expenditures including supporting the Skillman/LBJ Gateway planning<br />

effort to promote TOD development at the LBJ/Skillman DART Station<br />

area. A NCTCOG Regional Transportation Council (RTC) funded planning<br />

study, anticipated to being in 2012, will examine development options and<br />

public improvements needed to facilitate TOD development around the<br />

LBJ DART station.<br />

TXDOT has a preferred alternative for the LBJ Freeway/Skillman/Audelia<br />

intersection (incorporating the extensive efforts made by community<br />

leaders to present an alternative to an original flyover bridge design) and<br />

is now moving forward with the schematic design and environmental<br />

document.<br />

• To maintain the stability <strong>of</strong> local schools as redevelopment occurs in the housing<br />

market.<br />

In May 2007, the TIF Board adopted “Skillman Corridor TIF District<br />

Relocation Assistance/Student Retention Program Guidelines” with<br />

substantial input from the Richardson Independent School District (RISD)<br />

and Prescott Realty Group as part <strong>of</strong> negotiating the LHTC development<br />

agreement. A concerted effort was made at the start <strong>of</strong> the LHTC<br />

redevelopment to relocate remaining tenants to other apartment<br />

complexes within the RISD. Occupancy levels were low at the time and <strong>of</strong><br />

12

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