STRATEGIC PRIORITY: Economic Development
AGENDA DATE: June 8, 2022
COUNCIL DISTRICT(S): 1, 13
DEPARTMENT: Office of Economic Development
EXECUTIVE: Majed Al-Ghafry
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SUBJECT
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A public hearing to receive comments concerning the renewal of the Midtown Improvement District (the District), in accordance with Chapter 372 of the Texas Local Government Code (the Act), for the specified area of the District, to provide 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 ten years, from 2023 to 2032; (2) approval of the District's Service Plan for 2023-2032 to provide supplemental public services, to be funded by assessments on real property and real property improvements in the District; and (3) a management contract with Vickery Meadows Management Corporation d/b/a MID Management Corporation, a Texas nonprofit corporation as the management entity for the District - Financing: This action has no cost consideration to the City (see Fiscal Information)
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BACKGROUND
On February 1, 2022, the Vickery Meadows Management Corporation d/b/a the MID Management Corporation, representing owners of real property located within the District, submitted petitions to the City of Dallas requesting the renewal of the District and approval of the District's Service Plan for a new ten-year term effective January 1, 2023 to December 31, 2032, in accordance with the Act.
The Vickery Meadow Public Improvement District has been rebranded. As a result, the new name of the District is the Midtown Improvement District. The District was first established in 1993, and renewed in 1998, 2003, 2008 and 2015.
City staff reviewed the petitions and verified that owners of record representing 60% of the appraised value and more than 63% ...
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