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Agenda - City of Dallas

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Exhibit A - TOD TIF District<br />

FY 2011 Annual Report<br />

mixed-use, transit-oriented development along the South Lancaster Road<br />

corridor across from the Veterans Affairs Medical Center (V.A.); and at the close<br />

<strong>of</strong> the public hearing, (2) consideration <strong>of</strong> an application to HUD for a CDBG<br />

Section 108 Guarantee Loan Program loan for the Lancaster Urban Village<br />

Project in an amount not to exceed $8,492,000 - Financing: No cost<br />

consideration to the <strong>City</strong>. (Related to Lancaster Urban Village project)<br />

• On October 26, 2010, the <strong>City</strong> Council passed Resolution Number 10-2738<br />

authorizing a public hearing to be held on November 10, 2010 to receive<br />

comments on an amendment to Tax Increment Reinvestment Zone Number<br />

Seventeen (TOD TIF District) to increase the geographic area <strong>of</strong> the TOD TIF<br />

District in the Lancaster Corridor Sub-District to include properties located at<br />

2809, 2815, 2901, 2911, 2915, 2919, 2935, 3005, 3011, 3015, 3023, 3025, and<br />

3039 Lancaster Road located on the western frontage <strong>of</strong> Lancaster Road<br />

between Corning Avenue and Saner Avenue; and at the close <strong>of</strong> the public<br />

hearing, (2) consideration <strong>of</strong> an ordinance amending Ordinance Nos. 27432,<br />

previously approved on December 10, 2008, as amended and 27854, previously<br />

approved on April 14, 2010, to reflect these changes.<br />

• On October 26, 2010, the <strong>City</strong> Council passed Resolution Number 10-2771<br />

authorizing an amendment to Resolution No. 10-1239, previously approved on<br />

May 12, 2010, to increase the loan amount by $1,300,000 on an existing Chapter<br />

380 economic development forgivable loan with Sapphire Road Development,<br />

LLC for the acquisition <strong>of</strong> improved and unimproved properties, located along the<br />

Lancaster Corridor Neighborhood Investment Program Area, including<br />

associated closing costs, relocation, environmental remediation, demolition,<br />

and/or predevelopment costs for the purpose <strong>of</strong> constructing residential, retail,<br />

commercial, or mixed-use redevelopment as part <strong>of</strong> the Economic Development<br />

Plan for the area - Not to exceed $1,300,000, from $2,700,000 to $4,000,000 -<br />

Financing: 2006 Bond Funds.<br />

• On October 26, 2010, the <strong>City</strong> Council passed Resolution Number 10-2756<br />

declaring <strong>City</strong>-owned land located at 311 Avenue A near the intersection <strong>of</strong> Fran<br />

Way and Avenue B unwanted and unneeded and authorizing its advertisement<br />

for sale by sealed bid with no minimum bid specified. (Related to Sphinx<br />

Development Corporation – Fiji/Compton project area).<br />

• On November 10, the <strong>City</strong> Council passed Resolution Number 10-2817<br />

authorizing a New Markets Tax Credit (NMTC) transaction, between the <strong>Dallas</strong><br />

Development (DDF) Fund and its subsidiaries, US Bank, N.A. (US Bank) and its<br />

subsidiaries, and Matthews Southwest and its partners (Developer) for the<br />

restoration and development <strong>of</strong> historic property located at 1325 South Lamar<br />

Street into a boutique hotel (Project). (Related to South Side Boutique Hotel<br />

project)<br />

18

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