PILLAR: Growing
AGENDA DATE: August 12, 2026
COUNCIL DISTRICT(S):|910|DEPARTMENT: Office of Economic Development
PRIORITY: Targeted Economic Growth
______________________________________________________________________
SUBJECT
Title
Authorize a tax increment financing ("TIF") development agreement ("Agreement") with Fair Park First ("Developer" or "FPF") in the amount of $3,000,000.00 with the TIF Subsidy being disbursed to the Dallas Foundation on behalf of FPF, pursuant to the Fair Park Development and Fundraising Agreement, payable from the Deep Ellum TIF District Fund ("TIF Subsidy"), in consideration of the Community Park at Fair Park ("Project"), in accordance with the Economic Development Incentive Policy - Not to exceed $3,000,000.00 - Financing: Deep Ellum TIF District Fund
*In alignment with Economic Development Incentive Policy.
Body
BACKGROUND
On February 25, 2026, the City Council authorized execution of the Fair Park Development and Fundraising Agreement with FPF for the fundraising, design, development, and construction of the Community Park at Fair Park by Resolution No. 26-0460.
FPF was formed for the purpose of improving Fair Park and preserving its historical and cultural importance in the Dallas community by undertaking fundraising for the benefit and betterment of Fair Park in accordance with recommendations set forth in the 2014 Report of the Mayor's Fair Park Task Force, including engaging in the development of a community park, as also set forth in the 2020 Fair Park Master Plan Update, for the use and enjoyment of the surrounding Fair Park community as well as the public in general.
The Fair Park Development and Fundraising Agreement was executed on April 23, 2026. Per the Fair Park Development and Fundraising Agreement, FPF will undertake the design and construction of the Project, provided that the required costs of design and construction are fully funded by FPF through philanthropic and non-City funding sources (including ...
Click here for full text