PILLAR: Growing
AGENDA DATE: October 28, 2026
COUNCIL DISTRICT(S): 14
DEPARTMENT: Office of Economic Development
PRIORITY: Targeted Economic Growth
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SUBJECT
Title
Authorize an amendment to Resolution No. 21-1147 previously approved by City Council on June 23, 2021 authorizing a tax increment financing development agreement with Woodall Rodgers Park Foundation (“Foundation”) in an amount not to exceed $3,000,000.00 for the design and construction of the Phase 2 expansion of the Klyde Warren Park project (“KWP2”), payable from City Center Tax Increment Financing District funds, to update all KWP2 project deadlines and, as consideration for the amendment, add a new requirement for the Foundation to invest a minimum of $22,500,000.00 in the design and/or construction of KWP2, in accordance with the City’s Economic Development Incentive Policy – Financing: No cost consideration to the City
*In alignment with Economic Development Incentive Policy.
Body
BACKGROUND
Following City Council’s original authorization of the tax increment financing (TIF) development agreement in 2021, construction bid costs came in significantly higher than anticipated, and, as a result, construction of the Project was delayed to complete value engineering exercises and secure additional funding to support KWP2.
Over the past four years, the Foundation has coordinated extensively with its consultants, Texas Department of Transportation (TxDOT), North Central Texas Council of Governments (NCTCOG), Regional Transportation Council (RTC), and the City to finalize the construction plans, pricing, and funding for the Project.
On June 20, 2025, by Minute Order 116959, the Texas Transportation Commission unanimously approved a State Infrastructure Bank (SlB) loan for the Foundation in the amount of $21,350,000 for the deck structures over Spur 366 (Woodall Rodgers Freeway), with pledged collateral from special assessment re...
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