PILLAR: Growing
AGENDA DATE: May 27, 2026
COUNCIL DISTRICT(S):|910|DEPARTMENT: Office of Economic Development
PRIORITY: Targeted Economic Growth
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SUBJECT
Title
Authorize a tax increment financing ("TIF") development agreement with Mockingbird Owner LP, a Texas limited partnership and/or its affiliates ("Developer") in an amount not to exceed $29,000,000 ("TIF Subsidy"), payable from current and future funds in the Maple/Mockingbird TIF District ("TIF District" or "Zone"), in consideration of the Developer's design, engineering, financing, and construction of the Oak Park Mixed-Use and Mixed-Income Project ("Project") on approximately 5.9 acres currently addressed as 1545 West Mockingbird Lane - Not to exceed $29,000,000.00 - Financing: Maple/Mockingbird TIF District Fund (subject to current and annual appropriations from tax increments)
*In alignment with Economic Development Incentive Policy.
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BACKGROUND
The Oak Park Mixed-Use and Mixed Income Project ("Project") is proposed to be located on approximately 5.9 acres of property currently addressed at 1545 West Mockingbird Lane. The current site consists of an undeveloped, shovel-ready tract that is part of a larger 9.3 acre parcel.
The proposed Project includes construction of a 5-level multi-family residential building wrapping a parking garage (approximately 510 spaces), three commercial/retail buildings totaling approximately 10,400 15,000 square feet, and residential amenities including a clubhouse, coffee lounge, indoor/outdoor gathering spaces, fitness and wellness center, co-working space, storage units, resort style swimming pool, pet spa, and dog park.
Upon completion, the Project will consist of:
1. an approximately 373,120 square foot multi-family residential building (approximately 360 multi-family residential units);
2. an approximately 99,144 square foot parking garage (approximately 510 parking spaces);
3. approxi...
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