City of Dallas - File #: 22-1247

• File #: 22-1247
• Version: 1
• Type: BRIEFING ITEMS
• Status: Agenda Ready
• File created: 5/16/2022
• In control: Economic Development Committee
• On agenda: 9/6/2022
• Title: Authorize a tax increment financing (TIF) development agreement with Island Rock Holdings, LLC and/or its affiliates in an amount not to exceed $2,100,000 payable from TOD TIF District funds, and a Chapter 380 economic development grant agreement with Island Rock Holdings, LLC and/or its affiliates in an amount not to exceed $2,050,000 ($250,000 payable from Equity Revitalization Capital funds and $1,800,000 payable from 2012 General Obligation Bond funds) in accordance with the City's Public/Private Partnership Program, in consideration of the Longhorn Ballroom Redevelopment Project ("Project") currently addressed as 200 Corinth Street and 2202-2222 Riverfront Boulevard in the Cedars West Sub-District of the TOD TIF District [Kevin Spath, Assistant Director, Office of Economic Development]

Authorize a tax increment financing (TIF) development agreement with Island Rock Holdings, LLC and/or its affiliates in an amount not to exceed $2,100,000 payable from TOD TIF District funds, and a Chapter 380 economic development grant agreement with Island Rock Holdings, LLC and/or its affiliates in an amount not to exceed $2,050,000 ($250,000 payable from Equity Revitalization Capital funds and $1,800,000 payable from 2012 General Obligation Bond funds) in accordance with the City’s Public/Private Partnership Program, in consideration of the Longhorn Ballroom Redevelopment Project (“Project”) currently addressed as 200 Corinth Street and 2202-2222 Riverfront Boulevard in the Cedars West Sub-District of the TOD TIF District

[Kevin Spath, Assistant Director, Office of Economic Development]