STRATEGIC PRIORITY: Quality of Life
AGENDA DATE: March 25, 2020
COUNCIL DISTRICT(S): 14
DEPARTMENT: Office of Arts and Culture
EXECUTIVE: Joey Zapata
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SUBJECT
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Authorize the (1) acceptance of a monetary donation in the amount of $100,000.00 from Gabriella Tower, LLC, on behalf of Biscuit Holdings, Ltd., for the Latino Cultural Center; (2) receipt and deposit of funds in an amount not to exceed $100,000.00 in the Office of Cultural Affairs Gifts and Donations Fund; and (3) establishment of appropriations in an amount not to exceed $100,000.00 in the Office of Cultural Affairs Gifts and Donations Fund - Not to exceed $100,000.00 - Financing: Office of Cultural Affairs Gifts and Donations Fund
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BACKGROUND
On June 22, 2011, City Council authorized Resolution No. 11-1760, directing the sale of city-owned land located near the intersection of Live Oak and Cantegral Streets (“Property”) to Minerva Partners Ltd, in accordance with the Deep Ellum TIF District Project Plan, adopted on April 12, 2006 and amended on April 9, 2008. On August 10, 2016, City Council authorized Resolution 16-1221, approving an amendment to Deed Restrictions placed on the Property (Exhibit A).
The amendments to the Deed Restrictions were made in consideration for Biscuit Holdings, Ltd. making “a donation of $100,000 to the Latino Cultural Center to be used for parking or other Latino Cultural Center uses. Certified proof of the $100,000 donation, issued by the Latino Cultural Center, shall be provided to the Director of Economic Development, prior to the issuance of the Certificate of Occupancy.”
Gabriella Tower, LLC will be making the donation for Biscuit Holdings, Ltd, for the purpose of fulfilling the Amended Deed Restriction. Biscuit Holdings, Ltd., is a member of Gabriella Tower, LLC.
The Latino Cultural Center is a division of the Office of Arts and Culture of the City of Dallas. In accordance with the resolution, donation funds will be used for future Latino Cultural Center parking or infrastructure uses.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
On June 22, 2005, the Deep Ellum TIF District was established by Ordinance No. 26043.
On April 12, 2006, City Council authorized the Deep Ellum TIF Project Plan by Ordinance No. 26304.
On April 9, 2008, City Council authorized an amendment to the Deep Ellum Project Plan by Ordinance No. 27137.
On June 22, 2011, City Council authorized the sale of the Property by Resolution No. 11-1760.
On August 10, 2016, City Council authorized the Amendment to Deed Restrictions including the $100,000.00 donation to the Latino Cultural Center from Biscuit Holding Ltd. as part of the amended deed restrictions by Resolution No. 16-1221.
FISCAL INFORMATION
|
Fund |
FY 2020 |
FY 2021 |
Future Years |
|
Office of Cultural Affairs Gifts and Donations Fund |
$100,000.00 |
$0.00 |
$0.00 |