STRATEGIC PRIORITY: Growing
AGENDA DATE: June 11, 2025
COUNCIL DISTRICT(S):|910|DEPARTMENT: Department of Housing and Community Development
EXECUTIVE: Robin Bentley
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SUBJECT
Title
Authorize (1) the City Manager to negotiate and execute a conditional grant agreement and a development agreement with Innovan Neighborhoods, LLC and/or its affiliates ( Applicant), each approved as to form by the City Attorney, in an amount not to exceed $8,000,000.00 for the development of 6601 South Lancaster Road, a 188 single-family mixed-income homeownership housing development (Project) located at 6601 South Lancaster Road Dallas, Texas 75241 (Property); (2) conveyance of the Property to the Applicant and/or affiliate(s) subject to restrictive covenants, a right of reverter with the right of reentry and recording of all necessary documents pursuant to Texas Local Government Code Chapter 272.001(g) and applicable law and regulations; and (3) the establishment of appropriations in an amount not to exceed $1,494,276.00 in the Mixed Income Housing Development Bonus Fund - Not to exceed $8,000,000.00 - Financing: Housing and Neighborhood Infrastructure (H) (2024 General Obligation Bond Fund) ($2,880,000.00), ECO (I) (2017 General Obligation Bond Fund) ($1,000,000.00), Economic Development and Housing Development Program Fund (2012 General Obligation Bond Fund) ($1,100,000.00), Mixed Income Housing Development Bonus Fund ($1,494,276.00), and ARPA Redevelopment Fund ($1,525,724.00)
Body
BACKGROUND
On July 1, 2020, a 1,000-Unit Housing Challenge memorandum entitled "Mixed-Income Housing Challenge to Transit Oriented Developments for Post-COVID-19 Economic Development Recovery Efforts" was issued by the chairpersons of the Housing and Homelessness Solutions Committee, Transportation and Infrastructure Committee, Economic Development Committee, and Workforce, Education, and Equity Committee of the Dallas City Counci...
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