STRATEGIC PRIORITY: Economic and Neighborhood Vitality
AGENDA DATE: October 13, 2021
COUNCIL DISTRICT(S):|910|DEPARTMENT: Department of Convention and Event Services
EXECUTIVE: Joey Zapata
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SUBJECT
Title
An ordinance (1) designating a certain geographic area in the City of Dallas as "Project Financing Zone Number One, City of Dallas, Texas" and providing an expiration date for the zone; (2) making certain findings related thereto; (3) directing the City Manager to notify the Texas Comptroller of Public Accounts of the zone's creation within 30 days of its designation by City Council and request that the Comptroller deposit incremental hotel-associated tax revenues from the zone into a suspense account held in trust for the City of Dallas' financing of qualified project activities; (4) providing for notification to the Comptroller in the event that qualified project activities are abandoned or not commenced within five years of the initial deposit to the suspense account; and (5) containing other related matters - Estimated Revenue: Convention and Event Services Fund $2,200,000,000.00 over 30 years
Body
BACKGROUND
The Kay Bailey Hutchison Convention Center Dallas (KBHCCD) Master Plan is in the sixth month of an estimated nine-month development process. The master planning contract with WSP USA, Inc. (WSP) was approved by City Council Resolution No. 20-0245 on January 27, 2021, based on staff recommendation by the Department of Convention and Event Services (CES). WSP was selected through a dual Request for Qualifications/Request for Proposals process conducted in coordination with multiple stakeholders and 14 city departments, with the overall goal of procuring a firm that could develop an implementable plan to create a walkable Convention Center District that incorporates transportation and private development in a way that ensures that Dallas remains competitive in the tourism industry. T...
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