Agenda - City of Dallas

COUNCIL CHAMBER
February 22, 2012
Section 1. That the City Manager, upon approval as to form by the City Attorney is
hereby authorized to execute an amendment to the development agreement with the
Kessler Theater, LLC, previously approved on November 9, 2009, by Resolution No.
09-2762-01, in Tax Increment Financing Reinvestment Zone Number Sixteen (Davis
Garden TIF District) to:
A. Extend the completion deadline for all required environmental remediation and
demolition activities at the Project site from September 31, 2010 to July 1, 2012.
B. Extend the completion deadline for all historical façade improvements at the
Project site from January 1, 2012 to July 1, 2012.
C. Extend the deadline to complete all streetscape improvements along West Davis
Street and North Clinton Avenue and obtain a certificate of acceptance for these
and other infrastructure improvements that are funded by reimbursements from
the TIF fund or are located in the public right of way from January 1, 2012 to July
1, 2012.
D. Extend the deadline to execute and fund an operating and maintenance
agreement for non-standard public improvements associated with the Project
from January 1, 2012 to July 1, 2012.
E. Extend the deadline to lease 50% of the theater’s commercial and office space
from January 1, 2012 to July 1, 2012.
Section 2. That Exhibit A to Resolution No. 09-2762-01 is hereby replaced by the
Conceptual Site Plan attached hereto as Exhibit A.
Section 3. That the facts and recitations contained in the preamble of this Resolution
are hereby found and declared to be true and correct.
Section 4. That all other terms and conditions as set forth in Resolution Nos.
09-2762-01 and 09-2762-02 shall remain in full force and effect, except as specifically
outlined in Section 1 above.
Section 5. That the Director of the Office of Economic Development, after approval and
recommendation of the Davis Garden TIF District Board of Directors, may authorize
minor modifications to the project including the development site plan and/or an
extension of the project deadlines up to six months.
Section 6. That this resolution shall take effect immediately from and after its passage
in accordance with the provisions of the Charter of the City of Dallas, and it is
accordingly so resolved.