PILLAR: Growing
AGENDA DATE: April 22, 2026
COUNCIL DISTRICT(S): 13
DEPARTMENT: Office of Economic Development
PRIORITY: Targeted Economic Growth
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SUBJECT
Title
Authorize a Chapter 380 economic development grant agreement and all other necessary documents ("Agreement") with Meadow Sycamore, LP, a Texas limited partnership, and/or its affiliates collectively, in an amount not to exceed $13,500,000.00 ("Grant") in consideration of The Meadow Project, a mixed-income, transit-oriented, and permanent supportive multi-family residential development project on approximately 2.3 acres of real property addressed as 8130 Meadow Road ("Property"), in accordance with the Economic Development Incentive Policy - Total not to exceed $13,500,000.00 - Financing: Economic Development (G) Fund (2024 General Obligation Bond Fund) ($13,500,000.00) (subject to annual appropriations)
*In alignment with Economic Development Incentive Policy.
Body
BACKGROUND
On February 12, 2025, the City Council authorized a Resolution of Support for the Developer's application to the TDHCA for competitive 9% LIHTC for the Project by Resolution No. 25-0278.
On July 24, 2025, the TDHCA Board awarded $2 million in LIHTC to The Meadow Project in the 2025 allocation cycle. The Project application ranked tied for 3rd out of 14 applications in Region 3/Urban.
The proposed Project is located in a high opportunity area (Census tract 78.22). High opportunity areas within the city of Dallas are Census tracts with a poverty rate of 20% or lower. Census tract 78.22 has a poverty rate of 15.3%. High opportunity areas often have attributes that, based on recent research, appear to have a positive effect on the economic mobility of residents.
The Property is approximately 2.3 acres containing a vacant 77,132 square foot 3-story building that was originally constructed in 2017 as a skilled nursing facility. The Property is located approxima...
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