STRATEGIC PRIORITY: Economic and Neighborhood Vitality
AGENDA DATE: May 27, 2020
COUNCIL DISTRICT(S): 2, 14
DEPARTMENT: Office of Economic Development
EXECUTIVE: Dr. Eric A. Johnson
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SUBJECT
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A public hearing to receive comments concerning the renewal of the Dallas Downtown Improvement District (the District), in accordance with Chapter 372 of the Texas Local Government Code (the "Act"), for the specified area of the District, for the purpose of providing supplemental public services, to be funded by assessments on real property and real property improvements in the District; and, at the close of the public hearing authorize: (1) approval of a resolution renewing the District for a period of seven-years, from 2021-2027; (2) approval of the District's Service Plan for 2021-2027 for the purpose of providing supplemental public services, to be funded by assessments on real property and real property improvements in the District; (3) a management contract with Downtown Dallas, Inc., a Texas non-profit corporation as the management entity for the District; and (4) approval of the City's participation in the District for a period of seven-years, from 2021-2027, at an estimated cost consideration of $8,852,696.00, subject to annual appropriations - Financing: Future cost consideration to the City (see Fiscal Information)
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BACKGROUND
On January 30, 2020, Downtown Dallas, Inc. ("DDI") submitted petitions requesting the renewal of the District and approval of the Service Plan for a period of seven years with an effective date of January 1, 2021 in accordance with the Act. The Dallas City Council first authorized the creation of the District in 1992, and authorized its renewal in 1996, 2006, and 2013.
City staff reviewed the petitioned Service Plan, verified the signed petitions and found the renewal plan to be viable and recommended approval. City staff determined that owners of record repr...
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