STRATEGIC PRIORITY: Economic and Neighborhood Vitality
AGENDA DATE: January 22, 2020
COUNCIL DISTRICT(S):|910|DEPARTMENT: Department of Housing & Neighborhood Revitalization
EXECUTIVE: Michael Mendoza
______________________________________________________________________
SUBJECT
title
Authorize a resolution (1) designating approximately 1,365 acres of property generally bounded by Al Lipscomb Way, Malcolm X Boulevard, Robert B. Cullum Boulevard, Pine Street, Central Expressway, and Lamar Street in the Forest District area of Dallas, Texas as City of Dallas Neighborhood Empowerment Zone No. 14 (NEZ No. 14), pursuant to Chapter 378 of the Texas Local Government Code, to promote the creation or rehabilitation of affordable housing in the zone, establish boundaries of the zone, and provide for an effective date; (2) declaring that projects located within NEZ No. 14, within the Grand Park South Tax Increment Financing District, and eligible for the City's Residential Neighborhood Empowerment Zone (NEZ) Program may utilize real property and business personal property tax abatements under the provisions of the Residential NEZ Program; and (3) authorizing the City Manager to execute individual tax abatement agreements and development grant agreements in amounts equal to development fees and certain development-related costs up to $50,000.00 in accordance with the Residential NEZ Program - Financing: This action has no cost consideration to the City (see Fiscal Information)
body
BACKGROUND
Chapter 378 of the Texas Local Government Code (the Act) provides for the creation of NEZs. A NEZ is a flexible tool that a municipality can utilize to implement an economic development program, to create or rehabilitate affordable housing in the zone, and to increase the quality of social services, education or public safety provided to the residents of the zone.
With this item, staff is proposing to create City of Dallas NEZ No. 14 for a geographic area approximately 1,365 acres...
Click here for full text