STRATEGIC PRIORITY: Economic Development
AGENDA DATE: November 13, 2024
COUNCIL DISTRICT(S):|910|DEPARTMENT: Office of Economic Development
EXECUTIVE: Robin Bentley
______________________________________________________________________
SUBJECT
Title
Authorize a Conditional Chapter 373 Community Development Grant Agreement with Forest Forward in an amount not to exceed $8,000,000 to reimburse construction and infrastructure expenses related to the redevelopment of the historic Forest Theater located at 1918 Martin Luther King Boulevard, Dallas, Texas 75215 in accordance with the City's Economic Development Incentive Policy - Total amount not to exceed $8,000,000.00 - Financing: Infrastructure Investment Fund ($7,000,000.00) and Public Private Partnership Fund ($1,000,000.00)
Body
BACKGROUND
The Forest Theater Redevelopment (Project) is a comprehensive redevelopment of the historic Forest Theater which includes rehabilitation of the National Register of Historic Places-listed Forest Theater and the construction of an addition to provide additional amenities to Forest Theater. The project is led by Forest Forward (Grantee), which was founded in 2020 to restore and expand the Forest Theater, and works with the community to drive equitable development, economic mobility, and improve outcomes for children, residents, and families of the South Dallas community. The project is located within an Economic Development Target Area.
The Project includes three primary components:
1) Rehabilitation of the existing Forest Theater complex which includes approximately 35,630 square feet of auditorium, lobby and retail space and renovation of the 500-seat Main State Theater and creation an education center that is expected to include a technology lab, maker space and film and video production space.
2) Construction of one addition, approximately 28,000 square feet to create additional lobby space, a smaller 175-seat Black Box/White Box theater and other back-of-house eleme...
Click here for full text