STRATEGIC PRIORITY: Growing
AGENDA DATE: May 28, 2025
COUNCIL DISTRICT(S):|910|DEPARTMENT: Department of Convention and Event Services
EXECUTIVE: Robin Bentley
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SUBJECT
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Approve a resolution to allow for Authorize the submission, negotiation, and execution of a State Infrastructure Bank Loan Agreement of an application to the Texas Department of Transportation for a loan and repayable reimbursement grant in the amount of $90,000,000.00 consisting of a $47,000,000.00 loan; and one reimbursement request in an amount of $43,000,000.00 repayable reimbursement, to fund transit-oriented related costs for the Kay Bailey Hutchison Convention Center Dallas Master Plan, and all other required documentation to effectuate the city's intent to borrow such funds - Not to exceed $47,000,000.00 - Financing: No cost consideration to the City Venue Project Fund; Estimated Revenue: $43,0000,000.00
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BACKGROUND
In 2018, the Department of Convention and Event Services (CES) engaged in a multi-departmental solicitation for a development process to determine a path-forward for correcting long-time deferred maintenance of the 2 million square foot Kay Bailey Hutchison Convention Center Dallas (KBHCCD). The solicitation phase for master planning understood that the demand among convention centers continues to grow for high-quality exhibition and meeting space, especially within the medical, scientific, and technical fields, and that the existing KBHCCD was losing ground at a rate that was impacting the local economy. Market analyses conducted in prior years pointed to several factors, in addition to the KBHCCD's aging infrastructure, that were impacting the center's salability.
Included among those factors were mobility, transportation, surrounding amenities, and overall land use surrounding the facility. The exploration of facility data demonstrated that, as a facility constructed in five phases, over s...
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