Agenda - City of Dallas

Exhibit A - Skillman Corridor TIF District
FY 2011 Annual Report
• On March 9, 2011, the City Council passed Resolution Number 11-0695
authorizing the establishment of the City of Dallas Skillman Corridor TIF District
Grant Program to implement the Project Plan and Reinvestment Zone Financing
Plan (Project Plan) for Tax Increment Financing Reinvestment Zone Number
Fourteen (Skillman Corridor TIF District) pursuant to Chapter 311 of the Texas
Tax Code, V.T.C.A. to be administered by the City of Dallas - Office of Economic
Development to promote economic development within the Skillman Corridor TIF
District.
• On March 9, 2011, the City Council passed Resolution Number 11-0696
authorizing (1) a development agreement with Audelia WGK, LLC to dedicate
future TIF revenues for an economic development grant and other eligible project
costs related to the White Rock Place development located at the southwest
corner of Walnut Hill Lane and Audelia Road in Tax Increment Financing
Reinvestment Zone Number Fourteen (Skillman Corridor TIF District); and (2) the
Skillman Corridor TIF District Board of Directors to dedicate a principal amount
not to exceed $1,915,000 plus an additional grant in lieu of interest for a
maximum incentive not to exceed.
• On March 9, 2011, the City Council passed Resolution Number 11-0697
declaring the intent of Tax Increment Financing Reinvestment Zone Number
Fourteen (Skillman Corridor TIF District) to reimburse Audelia WGK, LLC a
principal amount not to exceed $1,915,000 plus an additional grant in lieu of
interest for a maximum incentive not to exceed $2,372,000 for certain TIF-eligible
project costs related to the White Rock Place development located at the
southwest corner of Walnut Hill Lane and Audelia Road in the Skillman Corridor
TIF District.
• On April 13, 2011, the City Council passed Resolution Number 11-0931
authorizing (1) a contract with The Fain Group, Inc., lowest responsible bidder of
nine, for the construction of Phase IV of the Katy Trail extension from Skillman
Street to the Northwest Highway DART Station in an amount not to exceed
$3,945,824; (2) the receipt and deposit of funds from the Texas Department of
Transportation in an amount not to exceed $2,425,112; and (3) an increase in
appropriations in the amount of $2,425,112 in the Capital Projects
Reimbursement Fund - Total not to exceed $3,945,824 - Financing: 2003 Bond
Funds ($1,520,713) and Capital Projects Reimbursement Funds ($2,425,112).
• On April 13, 2011, the City Council passed Resolution Number 11-0932
authorizing payment to the Texas Department of Transportation for the City’s
share of engineering and contingency costs for Phase IV of the Katy Trail
extension from Skillman Street to the Northwest Highway DART Station - Not to
exceed $151,333 - Financing: 2003 Bond Funds.
• On April 13, 2011, the City Council passed Resolution Number 11-0933
authorizing license agreements with Dallas Area Rapid Transit and Oncor for the
16