STRATEGIC PRIORITY: Economic Development
AGENDA DATE: December 13, 2023
COUNCIL DISTRICT(S): 4
DEPARTMENT: Office of Economic Development
EXECUTIVE: Majed Al-Ghafry
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SUBJECT
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Authorize an amendment to the Chapter 380 Economic Development Grant Agreement with The Golden S.E.E.D.S Foundation, previously authorized on May 22, 2019, by Resolution No. 19-0802, to extend the completion date by twelve months - Financing: No cost consideration to the City
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BACKGROUND
On May 22, 2019, the City Council authorized adoption of the Targeted Neighborhood Enhancement Program Statement and a Chapter 380 Economic Development Grant Agreement (“Agreement”) with The Golden S.E.E.D.S Foundation (“Grantee”) in an amount not to exceed $500,000.00, by Resolution No. 19-0802. The Agreement provides for the reimbursement of capital costs associated with neighborhood enhancements and improvements in The Bottom neighborhood. Per the Agreement, improvements may include art installations, street sign toppers, neighborhood entry signage and other unifying signage, landscaping enhancements, lighting, and other improvements that enhance safety, neighborhood identity, or aesthetics of the neighborhood.
In 2022, pursuant to the Agreement, the Grantee completed pedestrian-scale street lighting and street sign toppers in The Bottom. On January 18, 2023, reimbursement of $128,118.26 was paid by the City to the Grantee for the completed improvements. Therefore, the grant has an unexpended balance of $371,881.74.
On March 23, 2023, per Section 9 (Successors and Assigns) of the Agreement, the Grantee submitted a request to the Director of the Office of Economic Development to assign the unexpended grant balance to the City’s Park and Recreation Department to be specifically deployed into neighborhood enhancements and improvements planned for Eloise Lundy Park located in The Bottom neighborhood.
The Director of the Office of Economic Development is willing to approve the requested assignment because the Park & Recreation Department is already in the design phase of an upcoming project to improve Eloise Lundy Park. The Director of the Park & Recreation Department is willing to accept the assignment of the unexpended grant balance of $371,881.74 to specifically expand and enhance the scope of the City’s upcoming improvement project for Eloise Lundy Park, but the Director of the Park & Recreation Department is requesting a 12-month extension of the completion date in the Agreement (from December 31, 2023 to December 31, 2024) to more closely align the Completion Date in the Agreement with the Park & Recreation Department’s anticipated construction schedule for the Eloise Lundy Park improvement project.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
On May 22, 2019, the City Council authorized adoption of the Targeted Neighborhood Enhancement Program Statement and a Chapter 380 Economic Development Grant Agreement with The Golden S.E.E.D.S Foundation or an affiliate thereof in an amount not to exceed $500,000.00 in connection with neighborhood enhancements for The Bottom neighborhood by Resolution No. 19-0802.
The Economic Development Committee was briefed by memorandum regarding this matter on November 6, 2023. <https://cityofdallas.legistar.com/View.ashx?M=F&ID=12417912&GUID=3B5D06DC-3113-4F94-8693-BFCAA949798C>
FISCAL INFORMATION
No cost consideration to the City.
GRANTEE
The Golden S.E.E.D.S Foundation
Libbie Terrell Lee, Executive Director