PILLAR: Vibrant
AGENDA DATE: September 9, 2026
COUNCIL DISTRICT(S): 5
DEPARTMENT: Office of Housing and Community Empowerment
PRIORITY: N/A
______________________________________________________________________
SUBJECT
Title
Authorize an amendment to Resolution No. 22-0124, previously approved on January 12, 2022 for the Conditional Grant Agreement with Greenleaf Ventures, LLC and/or its affiliates for the Lake June development located in the Pleasant Grove area of East Dallas (Project), to (1) reduce the total number of single-family homes to be constructed from 125 to 95; and (2) increase the number of single-family homes to be reserved for households earning at or below 80% of the Area Median Income from 20% to 30% of the total number of homes in the Project - Financing: No cost consideration to the City
*In alignment with Dallas Housing Resource Catalog.
Body
BACKGROUND
On January 12, 2022, the City Council approved Resolution No.22-0124 authorizing a Conditional Grant Agreement (Agreement) with Greenleaf Ventures, LLC and/or its affiliates (Developer) in the amount of $1,854,276.00 in American Rescue Plan Act (ARPA) funds for public water infrastructure costs related to the construction of up to 125 affordable single-family homes within the Lake June development located in the Pleasant Grove area of East Dallas.
Following execution of the Agreement, unforeseen site constraints substantially reduced the Project’s developable acreage. These constraints included Dallas County’s acquisition of approximately four acres for the East Dallas Government Center, dedication of approximately ten acres for a conservation easement, additional engineering requirements related to traffic, drainage, and tree mitigation, and installation of an off-site sanitary sewer line. Collectively, these conditions required redesign of the subdivision, delayed construction, and reduced the number of developable lots.
As a result, Greenleaf Ventures, LLC requested an amendment to the Agreement to reduce the approved number of single-family homes from 125 to 95. In consideration of this amendment and to maintain the City’s affordable housing objectives despite the reduction in developable lots, the Developer shall agree to increase the number of homes serving households earning at or below 80% of Area Median Income (AMI) from 20% to 30% of the total number of homes in the Project. The amendment does not increase the original contract amount of $1,854,276.00.
Developer shall construct up to 95 single-family homes (“Units”) on lots owned by the Developer within the Pleasant Grove area of East Dallas (“Greenleaf Ventures Lake June Project” or “Project”). The Units will be developed as affordable homeownership opportunities and sold to Qualified Homebuyers earning up to either 80% or 120% AMI, and the average living area will be approximately 1,860 square feet. A minimum of 30% of the Units will be reserved for qualified homebuyers earning up to 80% AMI, with the remaining Units available to qualified homebuyers earning up to 120% AMI.
This amendment reduces the total number of homes from 125 to 95 due to unforeseen site constraints that reduced the developable acreage. To maintain the City’s affordability objectives, the required affordability commitment is increased from 20% to 30% of the total Units reserved for households earning up to 80% AMI.
The proposed financing structure for the Project is as follows:
|
Proposed Financing Sources |
Amount |
|
ARPA Redevelopment Fund |
$ 1,854,276.00 |
|
Developer Financing (Equity and/or Debt) |
$ 1,801,629.00 |
|
Total |
$ 3,655,905.00 |
|
Proposed Uses |
Costs |
|
Site Development & Public Infrastructure Improvements |
$ 3,555,905.00 |
|
Tree Mitigation |
$ 100,000.00 |
|
Total |
$ 3,655,905.00 |
The City provided an amount not to exceed $1,854,276.00 in ARPA financing for the construction of public infrastructure.
ESTIMATED SCHEDULE OF PROJECT
Began Construction January 2026
Complete Construction June 2027
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
On January 12, 2022, the City Council authorized a Conditional Grant Agreement with Greenleaf Ventures, LLC by Resolution No. 22-0124.
On February 28, 2024, the City Council authorized the transfer and reallocation of ARPA funds from the U.S. Department of Treasury for the Coronavirus Local Fiscal Recovery Fund to the ARPA Redevelopment multi-year fund to provide assistance with completing projects by Resolution No. 24-0315.
The Housing and Homelessness Solutions Committee was briefed by memorandum regarding this matter on August 24, 2026. <https://cityofdallas.legistar.com/View.ashx?M=F&ID=15798334&GUID=EE02FD0A-C8BE-4D48-BCC2-C3175FCC5C61>
The City Council was briefed by memorandum regarding this matter on September 3, 2026. <https://dallascityhall.com/government/citymanager/Documents/FY25-26%20Memos/September%209,%202026,%20Office%20of%20Housing%20and%20Community%20Empowerment%20City%20Council%20Agenda%20Items.pdf>
FISCAL INFORMATION
No cost consideration to the City.
OWNER
Greenleaf Ventures, LLC
Victor Toledo, Owner
MAP
Attached