2013 jun 13 am if: 21 memorandum - dallas · 2013 jun 13 am if: 21 memorandum city of dallas date...

2013 JUN 13 AM If: 21 Memorandum CITY OF DALLAS

DATE June 14, 2013

TO Housing Committee Members: Scott Griggs, Vice-Chair, Dwaine Caraway, Linda Koop and Pauline Medrano

seIDECT June 17, 2013 - Housing Committee Agenda

We will have a meeting of the Housing Committee on Monday, June 17, 2013, City Hall, 1500 Marilla - Room 6ES, Dallas, Texas, 75201, from 11 :00 a.m. - 12:30 p.m. The agenda is as follows:

1. Approval of June 3, 2013 Minutes

2. Design District TIF Grant Program Amendment

3. Status of Housing Projects

4. Upcoming Agenda Items Housing items only

Councilmember Carolyn R. Davis

Zavitkovsky/Evans (Estimated time 25 minutes)

Mitchell/Killingsworth (Estimated time 25 minutes)

For Information Only

a. Acceptance of CDBG Section 108 Loan Funds for Lake Highlands Town Center

b. Development Loan with Habitat c. Conditional Grant Agreement with KKBK Properties, LLLC d. Conditional Grant Agreement with Jubilee Park Community

Center Cooperation e. Conditional Grant Agreement with Frazier Revitalization, Inc. f. Loan Amendment with City Wide CDC (Addendum)

"Dallas, the City that Works: Diverse, Vibrant and Progressive"

Housing Committee June 14, 2013

()~~ Carolyn R. Davis, Chair Housing Committee

c: The Honorable Mayor and Members of the City Council Mary K. Suhm. City Manager Rosa A Rios. City Secretary Tom P. Perkins. Jr .• City Attorney Craig Kinton. City Auditor Daniel Solis. Administrative Judge. Municipal Court AC. Gonzalez. First Assistant City Manager Ryan S. Evans. Assistant City Manager Forest Turner. Assistant City Manager Jill A Jordan. P.E .• Assistant City Manager Joey Zapata. Assistant City Manager Jeanne Chipperfield. Chief Financial Officer Stephanie Pegues-Cooper. Assistant to the City Manager

Note: A quorum of the Dallas City Council may attend this Council Committee meeting.

A closed executive session may be held if the discussion of any of the above agenda items concerns one of the following:

1. Contemplated or pending litigation, or matters where legal advice is requested of the City Attorney. Section 551.071 of the Texas Open Meetings Act.

2. The purchase, exchange, lease or value of real property, if the deliberation in an open meeting would have a detrimental effect on the position of the City in negotiations with a third person. Section 551.072 of the Texas Open Meetings Act.

3. A contract for a prospective gift or donation to the City, if the deliberation in an open meeting would have a detrimental effect on the position of the City in negotiations with a third person. Section 551.073 of the Texas Open Meetings Act.

4. Personnel matters involving the appointment, employment, evaluation, reassignment, duties, discipline or dismissal of a public officer or employee or to hear a complaint against an officer or employee. Section 551.074 of the Texas Open Meetings Act.

5. The deployment, or specific occasions for implementation of security personnel or devices. Section 551.076 of the Texas Open Meetings Act.

6. Deliberations regarding Economic Development negotiations. Section 551.087 of the Texas Open Meetings Act.

"Dallas. the City that Works: Diverse. Vibrant and Progressive"

Housing Committee

Meeting RecordJune3,2013

TTie Housing Committee meetings are recorded. Agenda materials and audiotapes may beI reviewed/copied by contacting the Housing Department, Staff Coordinator at 214-670-3906.

Meeting Date: June 3, 2013 Meeting Start time: 11:05 kM.

Carolyn R. Davis (Chair)Scott Griggs (Vice-Chair)Linda KoopPauline MedranoDwaine Caraway

Staff Present:Ryan Evans-Asst. City ManagerJerry Killingsworth-DirectorlHOUCharles Brideau-Asst. DirectorlHOUPatrick lnyabri-HOUCynthia Rogers Ellickson-HOUCobbie Ransom-HOUMichael Bostic-CAOMeredith Ladd-CAOShannon Holmes-CAOSean McGrew-CMODoris Edmon-HOUCassandra Luster-HOUAdelia Gonzalez-SECAlida AlIen-HOU

Committee Members Present:

Other Council Members Present:

Committee Members Absent: Other AttendeesBob Axley-JubileeJerry Carlton-EDCODorothy Hopkins-Frazier Revitalization Inc.Tabatha Smith-FRIAndrea Hills-FRIKavian McMiIIon-FRITom Benning-DMNKristen Schultz-Dallas Habitat for HumanityTom Harbison-Jubilee

ANuA.

Housing Committee Meeting Called to Order by CM Carolyn R Davis

1. Approval of May 20, 2013 Minutes of the Housing CommitteePresenter(s): Council Member Scott Griggs

Action TakenlCommittee Recommendation(s)

Motion made by: CM Pauline Medrano Motion seconded by: CM Linda KoopItem passed unanimously: X Item passed on a divided vote:Item failed unanimously: Item failed on a divided vote:Follow-up (if necessary):

Housing CommitteeJune 3, 2013Meeting Record — Page 2 of 2

2. Jubilee Neighbor Single Family Housing ProjectPresenter(s): Evans, Asst. City ManagerlJerry Killingsworth, Director/Bernadette Mitchell, Asst.DirectorlTom Harbison, Jubilee/Bob Axley, Jubilee/Jerald Carlton, EDCO

Information Only: —

Follow-up (if necessary):

3. Hatcher Square Development

5.

Information Only:

I Follow-up (if necessary):

Meeting Adjourned by CM Carolyn R. Davis

Meeting Adjourned: 11:48Approved By:

_____________

Action TakenlCommittee Recommendation(s) Move forward to full Council on June 26, 2013

Motion made by: CM Pauline Medrano Motion seconded by: CM Linda KoopItem passed unanimously:X Item passed on a divided vote:Item faded unanimously Item failed on a divided vote

Presenter(s): Evans, Asst. City ManagerlJerry Killingsworth, DirectorlBernadette Mitchell, AsstDirector/Dorothy Hopkins, Frazier Revitalization mc-. IAndrea Hill, FRI/Tabatha Smith, FRI

Action TakenlCommittee Recommendation(s) Move forward to full Council on June 26. 2013

Motion made by: CM Carolyn R. Davis Motion seconded by: CM Pauline MedranoItem passed unanimously:X Item passed on a divided vote:

[jfailed unanimously: Item failed on a divided voteFollow-up (if necessary):

Upcoming Agenda ItemsHousing items only

a. Land Bank Sale ICDC (2 lots)b. Land Bank Sale EDCO (2 lots)c. Land Bank Sale City Wide (2 lots)d. Amendment to N. Oak Cliff NIP Boundarye. Reconstruction of 6 Homesf. Conditional Grant Approval wlCentral Dallas CDCg. Loan Agreement w/2000 Roses Foundation

Information Only: X

Action Taken/Committee Recommendation(s)

Motion macy_______ Motion seconded by:Item passed unanimously: - Item passed on a divided vote:Item failed unanimously: Item failed on a divided vote:

A.M.

Memorandum

DATE June 14, 2013

TO Members of the Housing Committee:Carolyn R. Davis (Chair), Scott Griggs (Vice-Chair), Dwaine Caraway,Linda Koop, and Pauline Medrano

Design District TIF Grant Program Amendment

On Monday, June 17, 2013, the Housing Committee will be briefed on the DesignDistrict TIF grant program amendment following a request made when the itemwas discussed at the June 12th City Council meeting.

Briefing material is attached.

Should you have any questions, please contact me at (214) 670-3296.

Ryan S. EvansAssistant City Manager

C; The Honorable Mayor and Members of the City CouncilMary K. Suhm, City ManagerRosa Rios, City SecretaryThomas Perkins Jr., City AttorneyJudge Daniel Solis, Administrative Judge Municipal CourtCraig Kinton, City AuditorA.C. Gonzalez, First Assistant City ManagerJill A. Jordan, P.E., Assistant City ManagerForest E. Turner, Assistant City ManagerJoey Zapata, Assistant City ManagerJeanne Chipperfield, Chief Financial OfficerKarl Zavitkovsky, Director, Office of Economic DevelopmentJ. Hammond Perot, Assistant Director, Office of Economic DevelopmentStephanie Pegues-Cooper, Assistant to the City Manager

CITY OF DALLAS

Dallas-Together, we do it better

Design District TIF Grant

Program Amendment

A Briefing to the Housing Committee

Office of Economic Development

June 17, 2013

2

Purpose

• Provide clarification on the Design

District Grant Program Amendment item

that was deferred by City Council on

June 12 to the June 19, 2013 agenda.

• Give a brief overview of TIF District

guidelines for promoting mixed-income

housing.

dallas-ecodev.org

3

Design District TIF Grant Program

Proposed Amendment

• The Design District comprehensive TIF Plan amendment was approved by Council on June 12, 2013.

• Grant Program Amendment was deferred until June 19, 2013 • Allows greater flexibility in providing project

incentives to encourage District development including offsets to cost of providing affordable housing.

dallas-ecodev.org

4


Alta Block 1500 LLC Project

• In 2006, Alta Block 1500, LLC developed a 214 unit residential project at Hi Line Drive and Oak Lawn and was the District’s catalyst project.

• Private investment exceeded $27 million.

• TIF funding of $4,402,000 reimbursed some project costs as well as area-wide improvements.

• Design District TIF policy requires 20% of units to meet affordability criteria, but allows buyout flexibility if approved by City and County.

5


Alta Block 1500 LLC Project (con’t) • Alta Block provided affordable units for three

years but when property sold, new owner elected to exercise buyout provision contained in the development agreement.

• Staff attempted to work out alternative arrangement.

• New owners decided to make $524,600 penalty payment.

• Amendment to the District’s Grant Program presented opportunity to incorporate these funds to support affordable housing for future projects.

• No subsequent projects in the Design District have been offered “buyout” options.

dallas-ecodev.org

6

TIF District Mixed-Income Housing

Guidelines • City Council adopted TIF policy (2005 as

amended) included affordable housing along with other policy considerations.

• Beginning in 2011, individual TIF districts created Mixed-Income Housing Guidelines for projects receiving TIF funds : – 20% of all residential units affordable (80% or less of

area median family income)

– 10% for Downtown Connection/City Center TIFs

• The guidelines were developed to:

– Attach to TIF development agreements

– Assist in explaining the process to developers

7

TIF District Mixed-Income Housing

Guidelines (con’t) • The guidelines (Appendix A) include:

– Definitions

– Reporting

– Compliance

– Alternative methods

– Affirmative fair housing

• Buyouts are not currently recommended.

8

Appendix A

Mixed-Income Housing Guidelines

Adopted by TIF Board of Directors

2011

9

Mixed-Income Housing Guidelines

TIF Program Purpose

The purpose of the City of Dallas’ TIF program is to promote development in underutilized and vacant areas through the use of public investment to attract private investment. The goals for the districts include improving the infrastructure within the districts and adding market rate apartments, single family homes, retail and commercial space, and office and professional space. Promoting housing for individuals and families at a variety of income levels is one of many policy considerations for the districts.

10

Mixed-Income Housing Guidelines (con’t)

General definitions

• Mixed income housing requires a minimum of 20% of all units to meet affordable housing standards.

• Affordable housing units are those which are affordable to a household earning 80% or less of the median family income for the Dallas Area.

• The 20% affordability requirement applies to both rental units and to units that are for sale. Requirements for for-sale units will be handled on a case-by-case basis. These guidelines primarily pertain to rental housing.

Affordability period and rent rates

• Rental units must be affordable for a period of at least fifteen years, beginning from the date the project is complete per the development agreement.

• Income levels and maximum rent will vary each year and are based on HUD’s calculations for Area Median Family Income (AMFI), utility expenses, and Market Rent for the Dallas Area. Maximum rents are set each year at 30% of 80% of AMFI, including a utility allowance. Information pertaining to the maximum affordable rent and income levels that are currently in effect can be obtained from the Office of Economic Development.

11


Affordable units

• A minimum of 20% of all occupied units shall be rented to qualifying households.

• The developer may choose to offer any available unit to qualifying households. The 20% total requirement thus may be satisfied by any combination of units and need not apply to units of all sizes.

• Affordable units shall be comparable in size and finish quality to market rate units and shall be dispersed throughout the development. Affordable units shall not be segregated into a particular section of the development and shall be a minimum of 500 square feet.

Qualifying households

• A qualifying household is defined as a household making 80% or less of the AMFI.

• Developers may include wages, salaries, tips, commissions, social security income, etc. to certify a household’s income. The method used to determine income should be the same for qualifying and market rate households.

12


Lease terms

• Households that qualify at the beginning of a lease will be assumed to qualify for the entirety

of the term of that lease. Recertification is therefore only necessary during lease renewal.

• At the end of the lease, the new lease rates will be set based on the household’s current

income at the time of renewal.

• If the household no longer qualifies for an affordable unit, the lease may be renewed at

market rate and another unit made available for a qualifying household in order to maintain

the 20% affordability requirement.

Fees and leasing requirements

• In general, all leasing requirements and all fees, utility charges, assessments, fines, etc.

charged by the apartment community must be applied uniformly to qualifying households and

market rate households, with the exception that the developer may choose to waive or

reduce fees for qualifying households and the developer may choose to set specific lease

lengths for affordable units.

13


Reporting Requirements

• Adequate reporting by developer, owner, or property manager shall be required to ensure that the City can appropriately monitor compliance with the guidelines. Projects receiving affordable housing funding under federal or state programs may choose to submit copies of compliance reports specific to the federal or state program in lieu of the TIF program report. Specific reporting requirements will be updated as necessary.

Compliance

• The developer assumes all liability for compliance with these requirements and with all applicable laws. By participating in the City’s TIF program, the developer agrees to report all information accurately and on time. At the City’s request, the developer agrees to produce necessary documentation for determining full compliance with this program.

• The affordability period shall be extended by six months for any number of units by which the affordable housing provided during a semi-annual period falls short of the number of units required to meet the affordable housing requirements. Noncompliance may result in termination of the development agreement, a reduction in TIF reimbursement, or other action as determined by the Office of Economic Development.

14


Compliance (con’t)

• The City may consider retaining a percentage of TIF funding to ensure that in the event that

the property is sold prior to the end of the 15 year compliance period, all subsequent owners

will be required to provide affordable housing for the remainder of the affordability period.

• The TIF program does not alter, modify, or reduce any affordable housing requirements,

duties, or obligations imposed on the developer because of receipt of funds or other

assistance from other programs or persons.

Alternative Methods

• A developer may propose alternative methods of meeting the requirements such as providing

equivalent affordable housing units in a comparable location within or adjacent to the TIF

district. All proposed alternative methods will be considered on a case-by-case basis and

must be approved by both the City and Dallas County.

15


Affirmative Fair Housing Marketing Plan

An affirmative fair housing marketing plan is required for all projects with a residential component that are supported with TIF funding. This requirement is detailed in each project’s development agreement. Each project will be evaluated individually to ensure that it furthers affirmative fair housing goals.

Effective Date

These guidelines are effective in each district as of the date they are approved by that district’s TIF board. The guidelines apply to developments with first occupancy on October 1, 2011 or later. These guidelines will not alter the terms of development agreements authorized prior to the approval of this document.

Guideline Modifications

As needed, the City may make modifications or corrections to these guidelines to increase their effectiveness. Where these guidelines may conflict with a district’s Final Plan language concerning housing provisions, the Director of the Office of Economic Development will make a final determination of project requirements.

Memorandum

CITY OF DALLAS

DATE June 14,2013

TO Housing Committee Members: Carolyn R. Davis, Chair, Scott Griggs, ViceChair, Dwaine Caraway, Linda Koop, and Pauline Medrano

SUBJECT Status of Housing Projects

On Monday, June 17, 2013, you will be briefed on the Status of HousingProjects. A copy of the briefing is attached.

Please let me know if you have any questions.

I LA —


c: The Honorable Mayor and Members of the City CouncilMary K. Suhm, City ManagerRosa A. Rios, City SecretaryTom P. Perkins, Jr., City AttorneyCraig Kinton, City AuditorDaniel SoBs, Administrative Judge, Municipal CourtA.C. Gonzalez, First Assistant City ManagerForest Turner, Assistant City ManagerJill A. Jordan, RE., Assistant City ManagerJoey Zapata, Assistant City ManagerJeanne Chipperfield, Chief Financial OfficerJerry Killingsworth, Housing/Community Services DirectorStephanie Pegues-Cooper, Assistant to the City Manager

“Dallas, The City That Works: Diverse, Vibrant and Progressive.”

1

Status of Housing Projects

A Briefing to the Housing Committee Housing/Community Services Department

June 17, 2013

2

Purpose

To provide a “Snapshot” of projects

completed within the past 18 months and

current projects under contract with

anticipated production within the next 18

months

3

Housing Projects Completed Within

The Last 18 Months Nonprofit Development

Builders of Hope: Prairie Creek-14 single family homes (CD4); West Dallas Scattered Sites-18 homes (CD6)

Catholic Housing Initiative: Notre Dame Place Seniors Housing 8 units (CD1)

City Wide CDC: Runyon Springs- 13 single family homes (CD8)

Defenders of Freedom: Veteran housing 2 single family homes (CD9)

East Dallas Community Organization: Bexar Street-20 townhomes (CD7); Thornton Heights-17 single family homes (CD8)

Jubilee Seniors Project: 24 apartment for Seniors on Gurley Avenue (CD2)

South Dallas/Fair Park ICDC: Frazier Courtyards-11 single family homes; Pittman Place- 9 single family homes completed (CD7)

Southfair CDC: Fair Park Estates 22 homes (CD7)

4

Housing Projects Completed Within

The Last 18 Months

For Profit Development

Pleasant Oaks: 14 single family homes (CD4)

Altura Homes: Scattered Sites- 7 single family homes (CD4); Cedar Creek Ranch-76 single family homes (CD8)

Atmos Phase I: 107 Multifamily units for families completed (CD14)

Continental: 203 apartments

downtown (CD14)

Kaminiski Building: 7 apartment units

on Bexar and 6,700 sq. ft. of retail (CD7)

Hai Tak Building: 9 apartment units on

Bexar and 6,000 sq. ft. of retail (CD7)

5

Housing Projects With Anticipated

Completions Over The Next 18 Months Nonprofit Development

Builders of Hope: Topletz Project-7 single family homes (CD6)

City Wide CDC: Lancaster Urban Village-14,131 square feet of commercial/retail office space

and 193 apartment units (CD5); Rudy’s Commercial (CD4)

East Dallas Community Organization: Bexar Street: 11 townhomes (CD7); Thornton

Heights: 12 single family homes (CD8)

Frazier Revitalization Inc.: 6 single family homes (CD7)

Habitat for Humanity: Greenleaf Village II- 10 single family homes (CD6)

South Dallas/Fair Park ICDC: Spring Street Medical Building; Pittman Place: 10 single family

units (CD7)

Jubilee Park CCC: 9 single family homes (CD2)

Central Dallas CDC: 50 permanent supportive housing units (CD2)

2000 Roses: 2 single family homes (CD7)

6

Housing Projects With Anticipated

Completions Over The Next 18 Months

For Profit Development

Heroes House: 32 apartment units (CD7)

Hall Family: 38 apartment units (CD7)

Pleasant Oaks: 6 single family homes (CD4)

Altura Homes: 4 single family homes (CD4); 36 single family homes (CD8)

Hatcher Gardens: 10 apartment units & 2 retail spaces (CD7)

Wynnewood Seniors: 140 apartments (CD3)

1400 Belleview: 164 apartments (CD2)

Lake Highlands Town Center: 165,000 sq.ft. commercial space (CD10)

Atmos Phase II: 123 apartment units (CD14)

Other Entities

DHA: Buckeye Trail Commons- 323 apartment units (CD4)

7

Current NIP Projects & Schedule of

Work South Dallas- Greater Fair Park NIP

Spring Avenue Redevelopment: Construction start on Spring Avenue streetscape and public improvements commenced April 2013 with completion by May 2014. Construction on first new mixed use building underway.

West Dallas NIP

Neighborhood Street Improvements: Neighborhood street improvements within the La Bajada and Los Altos communities ongoing. Identification of new projects underway (via partnership with Citydesign Studio), with implementation by mid-2014.

Lancaster Corridor / Cigarette Hill

Miller Family Park Improvements: Installation of LED Security lighting, picnic tables, BBQ grills and creation of small plaza on track, with completion by July 2013.

Neighborhood Lighting: Additional street lighting installed spring 2013 at the request of residents.

Herbert Street (West Dallas) Traffic Calming

Completed Winter 2012

South Dallas- Ideal/Rochester Park

Bexar Street Redevelopment Investment

Center (DPD): Construction underway with

completion by May 2014.

Bexar Street Public Improvements:

Construction of Phase II, Phase III street and

streetscape improvements in progress, with

completion by winter 2014.

Ideal/Rochester Park Neighborhood: Public

improvements within the Ideal and Rochester Park

neighborhood underway. Projects include

neighborhood street and green space improvements,

gateway enhancements, landscaping, neighborhood

banners, security measures, monthly stakeholder

engagement.

North Oak Cliff / Marsalis NIP

Median Improvements: Acquisition of 138 W.

Davis for median improvements authorized by City

Council May 2013.

Current NIP Projects & Schedule of Work

8

9

Current Land Bank Lot Inventory

South Dallas/Fair Park ◦ 83 owned

◦ 60 in foreclosure

West Dallas

◦ 9 owned


Lancaster

◦ 106 owned


South Dallas/Ideal-Rochester Park

◦ 38 owned


North Oak Cliff

◦ 4 owned


10

Summary

Completed Over Last 18 Months

o 223 single family units

o 358 multifamily units

o 12,700 retail/commercial space

Anticipated Production Over Next 18 Months

o 123 single family units

o 1,216 multifamily units

o 50 permanent supportive housing units

o 180,731 Retail/Commercial/Office Space

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H:\GIS\City Wide Info\Housing Projects Throughout City.mxd

")310

Status of Housing Projects

Anticipated Completion within 18 monthsCompleted ProjectsCityLimit

Id Housing Project Type of Development1 Builders of Hope: Prairie Creek Non Profit2 Builders of Hope: Scattered Non Profit3 Catholic Housing Init:Notre Dame Place Non Profit4 City Wide CDC: Runyon Springs Non Profit5 Defenders of Freedom Non Profit6 EDCO: Bexar Street Townhomes Non Profit7 EDCO: Thornton Heights Non Profit8 Jubilee Seniors Project Non Profit9 SD Fair Park ICDC Frazier Courts Non Profit

10 SD Fair Park ICDC Pittman Place Non Profit11 SouthFair CDC Fair Park Estates Non Profit12 Pleasant Oaks For Profit13 Altura Homes: Scattered Homes For Profit14 Altura Homes: Cedar Creek Ranch For Profit15 Atmos Phase I For Profit16 Continental For Profit17 Kaminski Building For Profit18 Hai Tak Building For Profit

Completed ProjectsId Housing Project Type of Development19 Builders of Hope: Topletz Project Non Profit20 CityWide CDC: Lancaster Urban Village Non Profit21 CityWide CDC: Rudy's Commercial Non Profit22 EDCO: Bexar Street Townhomes Non Profit23 EDCO: Thornton Heights Non Profit24 Frazier Revitalization Inc. Non Profit25 Habitat for Humanity: Greenleaf Village II Non Profit

26South Dallas/Fair Park ICDC Spring Street Med Bdlg Non Profit

27 South Dallas/Fair Park ICDC Pittman Place Non Profit28 Jubilee Park CCC Non Profit29 Central Dallas CDC Non Profit30 2000 Roses Non Profit31 Heroes House Non Profit32 Hall Family Non Profit33 Pleasant Oaks Non Profit34 Altura Homes: 4 Single Family Homes Non Profit35 Altura Homes: 36 Single Family Homes Non Profit36 Hatcher Gardens Non Profit37 Wynewood Senior Non Profit38 1400 Belleview Non Profit39 Lake Highlands Town Center Non Profit40 Atmos Phase II Non Profit41 DHA Buckeye Trail Commons Non Profit42 Spring Avenue Redevelopment City Projects

43West Dallas Neighborhood Street Improvements City Projects

44 Miller Family Park City Projects45 Neighborhood Lighting City Projects

46Bexar Street Redevelopment Investment Center City Projects

47 Bexar Street Public Improvements City Projects

48Ideal/Rochester Park Neighborhood Public Improvements City Projects

49North Oakcliff/Marsalis Median Improvements City Projects

d i i Projects to be Complete w th n 18 Months

Economic Vibrancy

June 26, 2013

10

Housing/Community Services

Ryan S. Evans, 670-3314

27P

Authorize (1) the acceptance of $13,350,000 of Community Development Block Grant

Section 108 Guarantee Loan Program Funds (Section 108 Loan Funds> from the U.S.

Department of Housing and Urban Development (HUD) for Lake Highlands Town

Center Phase I commercial development project; (2) a loan agreement with PC LH

Land Partners LP (the Section 108 Borrower), its affiliates or assigns in the amount of

$13,350,000 of Section 108 Loan Funds for development of the Lake Highlands Town

Center Phase I project (the Section 108 Borrower Loan) including construction of

commercial buildings with approximately 145,000 square feet of space and parking

structure with approximately 1,069 parking spaces, sitework, loan interest reserve, and

financing costs for public offering for the transit-oriented development located in the

7140 to 7160 blocks of Skillman Street; (3) the City Manager to enter into all necessary

agreements with HUD including a Funding Approval/Agreement, a Fiscal Agency

Agreement, a Promissory Note, up to two letters of agreement for establishment of a

custodial account, documents relating to additional security if required by HUD, and a

letter requesting advance funds for interim financing; (4) the City Manager to establish

appropriations for Section 108 Loan Funds for a commercial development loan; and (5)

the City Controller to deposit and disburse funds from an identified account for Section

108 Loan Funds - Not to exceed $13,350,000 - Financing: Community Development

Block Grant Section 108 Guarantee Loan Funds

BACKGROUND

In January 2009, the City Council adopted the Community Development Block Grant

Section 108 Guarantee Loan Fund Program to provide up to a total of all Section 108

projects of $75,000,000, primarily to increase the amount of funding available for

economic development through making of loans that promote activities which contribute

to the development of viable communities by providing decent housing and a suitable

living environment, and by promoting local economic development to stimulate

business and commercial activity in the City of Dallas leading to creation of permanent

jobs and provision of goods and services to project areas.

BACKGROUND (continued)

The City seeks to fund projects that increase the level of business activity by expandingeconomic activities, It is also important to the City that Section 108 loan repaymentsfrom borrowers match the City’s required repayments to HUD on the Section 108Guarantee Loan. Annual repayments of Section 108 Guarantee loans should be creditenhanced to eliminate risk of City making payments from annual CDBG allocations, tothe extent reasonably possible. The City applied to HUD for five years of interestreserve to cover the interest payments on the Section 108 Borrower Loan during theconstruction and lease-up period and through stabilization of the project. LakeHighlands Town Center Phase I (Lake Highlands) project is in a transit-orienteddevelopment area in the Skillman Corridor Tax Increment Financing (TIF) District, andan estimated $17,500,000 in future TIE funds available to the project will be used torepay the Section 108 Borrower Loan for the project.

The City received a proposal from PC LH Land Partners, LP for a loan in the amount of

$13,350,000 in Community Development Block Grant Section 108 Guarantee Loanfunds for eligible activities which may include construction of commercial buildings andparking structure, sitework, loan interest reserve, and financing costs for public offeringto assist with development of Lake Highlands Town Center Phase I project. The projectis a commercial development including construction of approximately 145,000 squarefeet of commercial space containing seven buildings that will be occupied by a groceryanchor, retail, office, restaurant, and service-oriented businesses and a structuredmulti-level parking deck with approximately 1,069 parking spaces located in the 7140 to7160 blocks of Skillman Street, The project will create an estimated 475 permanentjobs including an estimated 394 jobs held by individuals with incomes at 80% or less ofArea Median Family Income as established by HUD.

Phase I is part of a multi-phase Lake Highlands Town Center development, which at fullcompletion will include 1.9 million square feet of mixed-use commercial space for office,restaurant, and service-oriented businesses, and approximately 1,200 units comprisedof multi-family rental units and for-sale units for mixed-income households with 20% ofthe units reserved for affordable housing. The project is in a transit-orienteddevelopment area located in the Skillman Corridor TIE District. 100% of theinfrastructure on the site has been completed and the development is “shovel ready” tostart Phase I of the vertical commercial development, which will be funded with Section108 loan funds. None of the Section 108 loan funds will be used for any aspect of theconstruction of residential units,

The project is part of a public/private partnership in which proposed funding will beprovided from Tax Increment Financing (TIF) District funding and City funding. TheCity Council approved a TIE development agreement with PC LH Land Partners, LP toprovide TIE funds for development of the Lake Highlands Town Center project on June13, 2007, for funding not to exceed $23,000,000.

Agenda Date 06/26/2013 page 2

ççRO!jjpJ continued

The Economic Development Committee was briefed on a proposed amendment to theTIF development agreement to increase the TIF funding and voted favorably torecommend the funding increase on June 20, 2011. The City Council approved theamendment to the TIE development agreement with PC LH Land Partners, LP toincrease funding for development of the multi-phase Lake Highlands Town Centerdevelopment from $23,000,000 to $40,000,000 on June 22, 2011.

Total project costs to develop the commercial portion of Phase I of the developmentincluding construction of commercial buildings with approximately 145,000 square feetof space for a grocery anchor, retail, office, restaurant, and service-oriented businessesand 1,069-space structured parking garage is approximately $46.2M with the Citycontributing 2&9%. Funding for the project will come from the $13.35M Section 108Loan funds and from a first lien note of $25.9M and owner/developer equity of $6.9M.

The Economic Development Committee was briefed on the Community DevelopmentBlock Grant Section 108 Guarantee Loan proposed application for submission to HUDfor development of Lake Highlands Town Center Phase I project on December 5, 2011.The Committee gave favorable recommendation for the City to apply for Section 108Guarantee Loan funds for the project. The City held a neighborhood public hearing atthe Audelia Road Library Branch at 10045 Audelia Road on January 12, 2012, andreceived favorable comments on the application to be submitted to HUD for the LakeHighlands project. On December 14, 2011, the City Council authorized a publichearing to be held on January 25, 2012, which complies with HUD regulations and theCity’s Citizen Participation Plan of 30 days comment period from date of call for publichearing.

After the City Council public hearing held on January 25, 2012, the City Councilapproved submission of the Section 108 Loan funds application to HUD for the LakeHighlands project, and the City submitted the application to HUD on February 2, 2012.The City submitted an amended application to HUD on March 23, 2012, in conformancewith revisions required by HUD following its preliminary review of the application. HUDapproved an award of $13,350,000 in Section 108 funds for the Lake Highlands projecton July 17, 2012.

The Section 108 loan application requested $13,350,000 for Lake Highlands TownCenter Phase I project. The loan term will be for twenty (20) years with interest onlypayments for the first five (5) years and principal and interest payments due for yearssix (6) through twenty (20). The Section 108 Borrower will repay principal and payinterest on the City’s Section 108 Lake Highlands Loan with a pledge of future TIEreimbursements beginning in 2015.

Agenda Date 06/26/2013 - page 3

Rontinued

The interest rate for the City’s Section 108 loan from HUD will be determined by the 3month London Interbank Offered Rate (LIBOR) plus twenty (20> basis points before theloan is required by HUD to be sold at public offering. HUD public offerings are usuallyheld in the fall of every year, at which time the full balance of the loan will be advancedby HUD at a permanent interest rate determined by yields on U.S. Treasury obligationsof similar maturity plus a small additional basis point spread.

Interest will be paid by Prescott Realty Group, Inc., the developer, through acombination of interest reserve built into the construction loan, and a pledge ofpartnership distributions until the TIE reimbursements start in 2015. The interest rateon the loan to the developer will be .50% higher than the Section 108 Loan from HUDand both loans will have matching amortization. The pledge of an income stream and/ora guaranty by the borrower may be pledged as a backstop guaranty, if required, for theloan repayment. All loan payments by borrower will provide adequate funds for the Cityto make its payments on the Section 108 Loan from HUD,

The Section 108 Loan funds will be used to fund construction of approximately 145,000square feet of commercial space that will be occupied by a grocery anchor, retail,office, restaurant, and service-oriented businesses and a 1 ,069-space structuredparking structure and to fund sitework, loan interest reserve, and financing costsrelated to public offering. The commercial development of the project will meet thestatements of community development objectives in the City’s Consolidated Plandealing with creation of employment opportunities by creating approximately 394 jobsthat will be held by low to moderate-income employees. The job creation also meets aHUD National Objective of providing jobs to low- to moderate-income persons.

This action item requests authorization for the City Manager to execute the documentsnecessary to enter into a $13,350,000 Section 108 loan agreement with HUD; toappropriate the Section 108 loan funds to the proper account; to execute a loanagreement with the Section 108 Borrower in the amount of $13,350,000 of Section 108loan funds for Lake Highlands Town Center Phase I project including construction ofcommercial buildings with approximately 145,000 square feet of space and a1,069-space parking structure, sitework, loan interest reserve, and financing costs forpublic offering.

PRIOR ACTIONIREVIEW (COUNCIL. BOARDS, COMMISSIONS)

On June 13, 2007, the City Council approved a TIE development agreement with PCLH Land Partners, LP to provide TIF funds for development of the Lake HighlandsTown Center project for funding in an amount not to exceed $23,000,000 by ResolutionNos. 07-1739 and 07-1740.


PRIOR ACTION!REVIEW (COUNCIL, BOARDS, COMMISSIONS) (continued)

On November 17, 2008, the Economic Development Committee and the HousingCommittees were briefed and gave favorable approval on CDBG Section 108 LoanApplication authorization for the use of Section 108 Guarantee Loan funds to provideproject gap financing or mezzanine debt necessary to move projects forward in today’sfinancial market, to minimize, if not eliminate, the risk to the CDBG program revenueand set guidelines by which the funds would be used.

On January 5, 2009, the Economic Development Committee and the HousingCommittees were briefed and gave favorable approval on CDBG Section 108Guarantee Loan fund application requirements and proposed Program Guidelines forCity to apply for up to a total of $75,000,000 in guarantee loans.

On January 28, 2009, the City Council adopted CDBG Section 108 Guarantee LoanProgram Statement, setting out the program purpose, description, operations andproject criteria by Resolution No. 09-0291.

On June 20, 2011, the Economic Development Committee was briefed on a proposedamendment to the TIE development agreement with PC LH Land Partners, LP fordevelopment of the Lake Highlands Town Center project to increase TIE funding from$23,000,000 to $40,000,000 and voted favorably to recommend the increase infunding.

On June 22, 2011, the City Council approved an amendment to the TIE developmentagreement with PC LH Land Partners, LP to increase funding for development of theLake Highlands Town Center project from $23,000,000 to an amount not to exceed$40,000,000 by Resolutions Nos. 11-1744 and 11-1745.

On December 5, 2011, the Economic Development Committee was briefed on theCommunity Development Block Grant Section 108 Guaranteed loan application to HUDfor development of the Lake Highlands Town Center project and voted to favorablyrecommend that the City apply for Section 108 Guarantee Loan funds for the project.

On December 14, 2011, the City Council authorized a public hearing to be held onJanuary 25, 2012, to receive comments on the proposed City of Dallas submission ofan application to HUD for a Section 108 loan not to exceed $13,350,000 for the LakeHighlands Town Center project by Resolution No. 11-3306.

On January 25, 2012, the City Council held a public hearing and following the publichearing authorized submission of a Section 108 Guarantee Loan Funds application toHUD for a Community Development Block Grant Section 108 loan in the amount of$13,350,000 by Resolution No. 12-0337.


flSCAL INFORMATION

Community Development Biock Grant Section 108 Guarantee Loan Funds -

$1 3,350,000

OWNER DEVELOPER

PC LH Land Partners, LP Prescott Realty Group, Inc.

Judson L. Pankey, Manager Judson L. Pankey, Chief Executive Officer& Co-General Partner

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COUNCIL CHAMBER

WHEREAS, the City of Dallas seeks to increase the amount of funding available for

economic development through making loans that promote activities which contribute to

the development of viable communities by providing decent housing and a suitable

living environment, by promoting local economic development to stimulate business

and commercial activity in the City of Dallas leading to creation of permanent jobs and

provision of goods and services to project areas, and by providing for elimination of

specific conditions of blight, physical decay, or environmental contamination to protect

the health and safety of the public; and

WHEREAS, the City of Dallas seeks to keep momentum going in growth prone areas

and stimulate investment in more challenged areas by providing a substitute for

declining availability of capital funding while banks are not willing to loan as much

against collateral, interest rates for available funding have increased and proceeds

from sales of tax credits has declined; and

WHEREAS, on June 13, 2007, the City Council authorized a development agreement

with PC LH Land Partners, LP (“PC LH”) to provide TIF funding not to exceed

$23,000,000 related to the development of the Lake Highlands Town Center by

Resolution Nos. 07-1 739 and 07-1740; and

WHEREAS, on November 17, 2008, the Economic Development Committee and the

Housing Committees were briefed and gave favorable approval on CDBG Section 108

Loan Application authorization for the use of Section 108 Guarantee Loan funds to

provide project gap financing or mezzanine debt necessary to move projects forward in

today’s financial market, to minimize, if not eliminate, the risk to the CDBG program

revenue and set guidelines by which the funds would be used; and

WHEREAS, on January 5, 2009, the Economic Development Committee and the

Housing Committees were briefed and gave favorable approval on CDBG Section 108

Guarantee Loan fund application requirements and proposed Program Guidelines for

the City to apply for up to a total of $75,000,000 in guarantee loans; and

WHEREAS, on January 28, 2009, the City Council adopted CDBG Section 108

Guarantee Loan Program Statement, setting out the program purpose, description,

operations and project criteria by Resolution No. 09-0291; and

WHEREAS, on June 20, 2011, the Economic Development Committee was briefed and

gave favorable approval on a proposed amendment to the TIF development agreement

with PC LH Land Partners, LP for development of the Lake Highlands Town Center

project to increase TIF funding from $23,000,000 to $40,000,000; and

COUNCIL CHAMBER

WHEREAS, on June 22, 2011, the City Council authorized an amendment to the TIEdevelopment agreement with PC LH Land Partners, LP (“PC LH”) to provide anincrease in funding related to the development of the Lake Highlands Town Centerproject from $23,000,000, not to exceed $40,000,000 by Resolutions Nos. 11-1744 and11-1745; and

WHEREAS, Prescott Realty Group, Inc., the developer, submitted a proposal to theCity for CDBG Section 108 Guarantee Loan Program funds (Section 108 Loan funds>for eligible economic development activities related to the development of LakeHighlands Town Center Phase I project; and

WHEREAS, on December 5, 2011, the Economic Development Committee was briefedon the developer’s request for Section 108 Loan funds in the amount of $13,350,000for development of Lake Highlands Town Center Phase I project and voted to favorablyrecommend that the City apply for Section 108 Loan funds for the project; and

WHEREAS, On December 14, 2011, the City Council authorized a public hearing to beheld on January 25, 2012, to receive comments on the proposed City of Dallassubmission of an application to the U.S. Department of Housing and UrbanDevelopment (HUD) for a CDBG Section 108 Loan funds loan not to exceed$13,350,000 for Lake Highlands Town Center Phase I project by Resolution No,11-3306; and

WHEREAS, on January 25, 2012, the City Council held a public hearing and followingthe public hearing authorized submission of an application to HUD for a CDBG Section108 Guarantee Loan Funds loan in an amount not to exceed of $13,350,000 fordevelopment of Lake Highlands Town Center Phase I project by Resolution No.12-0337; and

WHEREAS, on February 2, 2012, the City of Dallas applied to HUD for a CDBGSection 108 Loan funds loan for PC LH Land Partners, LP, its affiliates or assigns, for acommercial development project in the 7140 to 7160 blocks of Skillman Street includingconstruction of approximately 145,000 square feet of commercial space and1,069-space parking structure, sitework, loan interest reserve, and financing costs forpublic offering for development of Lake Highlands Town Center Phase I project; and

WHEREAS, on July 17, 2012, HUD approved an award of $13,350,000 for a CDBGSection 108 Guarantee Loan Funds loan for development of Lake Highlands TownCenter Phase I project; NOW, THEREFORE,

BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DALLAS:

COUNCIL CHAMBER

June 26, 2013

SECTION 1. That the City Manager, upon the U.S. Department of Housing and UrbanDevelopment’s (HUD’s) approval of Lake Highlands Town Center Phase project andthe use of Community Development Block Grant Section 108 Guarantee Loan funds(Section 108 Loan funds) for the project, and upon approval as to form by the CityAttorney, is hereby authorized to accept $13,350,000 in Section 108 funds for LakeHighlands Town Center Phase I project located in the 7140 to 7160 blocks of SkillmanStreet in the Skillman Tax Increment Financing (TIF) District to fund construction ofapproximately 145,000 square feet of commercial space including grocery anchor,retail, office, restaurant, and service-oriented businesses and 1,069-space parkingstructure, and to fund sitework, loan interest reserve, and financing costs for publicoffering.

SECTION 2. that the City Manager, subject to approval as to form by the City Attorney,is authorized to enter into a Fiscal Agency Agreement with the local fiscal agentselected by HUD, a Contract for Loan Guarantee Assistance with HUD, a PromissoryNote for either interim or permanent financing, two letters of agreement with acustodian and establishment of custodial accounts at a financial institution, otherdocuments relating to additional security which are required by HUD when the term ofthe loan is ten years or more, and if funds are needed immediately, a letter requestingadvance funds for interim financing.

SECTION 3. That, in connection with this Section 108 Loan, the City Manager is further

authorized to execute any other necessary documents, upon approval as to form by theCity Attorney, including, but not limited to, a Funding Approval/Agreement, assignmentof lien to HUD, blank endorsement of note to HUD, Co-lenders agreement, a requestfor project funding, and Community Development Block Grant Contract.

SECTION 4. That the City Manager is authorized to enter into loan agreements andexecute, subject to approval as to form by the City Attorney, all necessary loandocuments with PC LH Land Partners LP, its affiliates or assigns for development ofLake Highlands Town Center Phase I project in the 7140 to 7160 blocks of SkillmanStreet in the Skillman Corridor Tax Increment Financing (TIE) District to fundconstruction of approximately 145,000 square feet of commercial space includinggrocery anchor, retail, office, restaurant, and service-oriented businesses and1,069-space parking structure, and to fund sitework, loan interest reserve, andfinancing costs for public offering.

COUNCIL CHAMBER

SECTION 5. That the terms of the loan documents for the $13,350,000 Section 108Borrower Loan fund loan include:

a. The Borrower must execute a Note payable to the City of Dallas for no morethan $13,350,000 for the economic development loan for Lake HighlandsTown Center Phase I project and will execute a Deed of Trust for the periodof HUD’s Section 108 loan with the City and Use Restrictions on the propertyfor a period of fifteen (15> years from the closing date of the loan. Theinterest payments for the first five years of the loan will be funded out of fiveyears of interest reserve and Tax Increment Financing District (TIF)reimbursements to be used to make City Loan payments of principal andinterest due for years 6 through 20 until the City Loan is paid in full. Both theSection 108 Loan from HUD and the City Loan to the Borrower will havematching amortization and maturity dates, and the Section 108 LakeHighlands Town Center Phase I Loan will have an interest rate which is .5%higher than the Section 108 Loan from HUD. Based on projections, all loanpayments by borrower will provide adequate funds for City to make itspayment on the Section 108 Loan from HUD.

b. The Section 108 Borrower must use Section 108 Borrower Loan funds tocomplete construction of approximately 145,000 square feet of commercialspace including grocery anchor, retail, office, restaurant, andservice-oriented businesses and 1,069-space parking structure, and fundsitework, loan interest reserve, and financing costs for public offering forLake Highlands Town Center project located at 7140 to 7160 Skillman Street.

c. The grocery anchor, retail, office, restaurant, and service-orientedbusinesses in the commercial space must produce a minimum of 394 jobsheld by low/moderate income individuals.

d. Borrower will begin construction no later than twelve (12) months fromcontract execution and obtain Certificate of Occupancy no later than three (3)years of the closing of Section 108 Borrower Loan and will expend all of thefunds for approved construction line items, except interest reserve funds,within three (3) years of the closing of the Section 108 Borrower Loan andwill expend all of the funds except those necessary to meet debt servicerequirements.

e. Borrower will document and report ongoing occupancy requirements on amonthly basis for the commercial tenants and will report on the incomes oflow- and moderate-income persons occupying jobs created by the project.Borrower will also document job creation as necessary to meet the HUDrequirements for public benefit and the National Objectives of the Section108 Program.

f. Borrower must provide source documentation for all other sources of fundsnecessary to complete Lake Highlands Town Center Phase I commercialdevelopment project.

COUNCIL CHAMBER

June 26, 2013

SECTION 6. That the City Manager, upon approval as to form by the City Attorney, isauthorized to execute loan agreements, co-funding agreements, subordination of lien.intercreditor agreements, HUD regulatory agreement and any other documentsnecessary to document the Section 108 Borrower Loan.

SECTION 7. That the City Manager, upon approval as to form by the City Attorney isauthorized to execute releases of liens on the property and other collateral uponcompliance with the terms of the loans.

SECTION 8. That the City Manager is authorized to establish appropriations in theamount of $13,350,000 in Fund 0J54, Unit OJ5D, Obj 3090 for project costs and thosenecessary to make repayments to HUD,

SECTION 9. That the City Controller is authorized to accept and deposit Section 108loan funds in the amount of $13350,O00 in Fund 0J54, Unit OJ5D, Revenue Source8461, for project costs and those necessary to make repayments to HUD.

SECTION 10. That the City Controller is hereby authorized to encumber and disbursefunds in accordance with the terms and conditions of the loan documents authorized inSection 5 as follows:

PC LH Land Partners, LP C/O Prescott Realty Group Vendor # VS0000021277

Fund 0J54, Dept HOU, Unit OJ5D, Obj 3075, Program # LKHighlandHOUOJ5DH123 — in an amount not to exceed $13,350,000

SECTION 11. That the City Controller is hereby authorized to set up receivablebalance sheet account (033F) and deferred revenue (088M) in Fund 0J54 for theamount of the Section 108 Borrower loan.

SECTION 12. That the City Controller is authorized to accept and deposit TIFreimbursements into Fund 0J54 necessary to make HUD repayments. Principalamounts to be deposited into Revenue Source 8503 and interest amounts of the loan tobe deposited into Revenue Source 8556.

SECTION 13. That the City Controller is authorized to accept and deposit repaymentsfrom the Section 108 Borrower into Fund 0J54 necessary to make HUD repayments.Principal amounts to be deposited into Revenue Source 8503 and interest amounts tobe deposited into Revenue Source 8556.

SECTION 14. That the City Controller is hereby authorized to reverse the receivablebalance sheet account (033F) and deferred revenue (088M) in Fund 0J54 forrepayments of all principal amounts of loans.

COUNCIL CHAMBER

SECTION 15. That the City Controller is authorized to encumber and disburse loanpayments to HUD in accordance with the terms and conditions of the loan documentsauthorized in Section 2 from Fund 0J54 Vendor # 263304. Principal amounts to bedisbursed from Object Code 3077 and interest amounts to be disbursed from ObjectCode 3076.

SECTION 16. That nothing in this resolution shall be construed as a binding contract oragreement upon the City; that it is subject to HUD approval of the Lake HighlandsPhase I project, compliance with all HUD regulations and requirements, and availableHUD funding; approval of the final loan terms and loan documents by the City Managerand City Attorney; and there will be no liability or obligation on the City until the finalcontract documents are approved, executed, and final closing completed.

SECTION 17. That this resolution shall take effect immediately from and after itspassage in accordance with the Charter of the City of Dallas, and it is accordingly soresolved.

Economic Vibrancy

June 26, 2013

6



43L

Authorize a housing development loan in an amount not to exceed $300,000 withDallas Area Habitat for Humanity for the development of ten affordable single familyhomes to be located between 3528-3560 Jenny Dale Drive in West Dallas — Not toexceed $300,000 - Financing: FY 2012-13 HOME Investment Partnership ProgramFunds

BACKGROUND

On May 13, 2013, Dallas Area Habitat for Humanity submitted a proposal to the City ofDallas for the development of ten (10) affordable housing units for low and moderateincome families,

Habitat is a 501(c)3 nonprofit organization that serves the West Dallas communitywhere this project is located. In 2010, they completed and sold eleven (11) homes inthe Greenleaf Village subdivision; however, due to economic conditions, the privatedeveloper was unable to complete the subdivision, Habitat has purchased a number ofthose lots to continue the development of quality affordable housing in the area.

The funds for the housing development loan will be provided through FY 2012-13HOME Investment Partnership Program Funds from the Department of Housing andUrban Development (HUD) which the City Council appropriated for housingdevelopments such as this. The City of Dallas would provide gap financing for the totalcosts of construction of the units which will be sold to eligible low and moderate incomefamilies. The construction and occupancy will be completed within two (2) years.

City Council approval of this agenda item will authorize the City Manager to execute theloan documents with Habitat for these HOME Investment Partnership Funds, subject toenvironmental review by the City of Dallas and HUD. Resale deed restrictions will berequired for a ten (10) year period for affordability.

On June 27, 2012, the City Council approved the City of Dallas Consolidated PlanBudget for FY 2012-13 federal funds which included the HOME Investment PartnershipFunds, by Resolution No, 12-1629.

FISCAL INFORMATION

2012-13 HOME Investment Partnership Program Funds - $300000

OWNERS DEVELOPER

Dallas Area Habitat for Humanity Dallas Area Habitat for Humanity

Bill Hall, CEO Sill Hall, CEO

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WHEREAS, affordable housing for low and moderate income families is a high priorityof the City of Dallas; and

WHEREAS, on June 27, 2012, the City Council approved the FY 2012-13 ConsolidatedPlan Budget which included the HOME Investment Partnership Program Funds byResolution No. 12-1629; and

WHEREAS, Dallas Area Habitat for Humanity (Habitat> proposed to work with the Cityof Dallas to undertake the development often (10) affordable units in West Dallas; and

WHEREAS, the City desires for Habitat to develop affordable units for low andmoderate income families, NOW THEREFORE,

BE RESOLVED BY THE CITY COUNCIL OF THE CITY OF DALLAS:

Section 1, That following approval as to form by the City Attorney, the City Manager isauthorized to execute a housing development loan in an amount not to exceed$300,000 with Dallas Area Habitat for Humanity for the development of ten (10)affordable single family homes to be located between 3528-3560 Jenny Dale Drive inWest Dallas.

Section 2. The terms of the loan agreement include:(a) Habitat must execute a note payable to the City of Dallas for $300,000

for the loan.(b) Habitat will execute a lien through a Deed of Trust and a Deed

Restriction on the property which will carry a 10 year term for theaffordable units.

(c) Habitat is forgiven 1/10th of the loan amount upon the sale of eachhome to an eligible buyer at or below 80% Area Median Family Income.

(d) The homebuyer must agree to the Resale Deed Restriction foraffordability which will remain on the property for 10 years.

(e) Habitat will have two (2) years to complete construction and occupy theunits.

(f) Habitat must build and occupy the affordable units to low and moderateincome families with incomes at or below 80% of area median familyincome.

Section 3. That the City Manager, upon approval as to form by the City Attorney, isauthorized to execute lien releases and terminate deed restrictions on the propertiesupon compliance with the loan terms and deed restrictions.

COUNCIL CHAMBER

6Q13

Section 4. That the Controller is hereby authorized to encumber and disburse funds inaccordance with the terms and conditions of the contracts as follows:

FUND DEPT UNIT OBJ CT VENDOR AMOUNTHM12 HOU 893E 3015 H0U893E1133 500903 $30O000

Section 5. That the City Controller is hereby authorized to set up receivable balancesheet account (033F) and an allowance for uncollectible debt (022D) in fund HM12 forthe amount of the loan.

Section 6. That this resolution does not constitute a binding agreement upon the Cityor subject the City to any liability or obligation with respect to the loan, until such timeas the loan documents are duly approved by all parties and executed.

Section 7. That this reso’ution shall take effect immediately from and after its passagein accordance with the provisions of the Charter of the City of Dallas, and it isaccordingly so resolved.

Economic Vibrancy

June 26, 2013

7


Ryan S. Evans, 6703314

47S

Authorize a conditional grant agreement in the amount of $300,000 with KKBKProperties, LLC, or its wholly owned subsidiary, to provide funding for the constructionof commercial and residential units at 4002 Hatcher Street — Not to exceed $300,000Financing: General Obligation Commercial Paper Funds

BACKGROUND

On May 20, 2013 the Housing Committee of the City Council was briefed on theproposed Hatcher Gardens Project. KKBK Properties, LLC formally requested that theCity of Dallas participate in the development of a mixed use building to include twocommercial units of approximately 800 square feet per unit and ten apartment units tobe located at 4002 Hatcher Street, The site is located immediately south of the DARTGreen Line Hatcher Station.

The Hatcher Gardens Project will serve a mixed income and mixed use purpose andfurther economic development in the area, The development owner/partners includeCraig Gant, Esq., Jerry Hicks, Esq., and Kurt Thomas.

This action would provide a conditional grant to KKBK Properties, LLC, or its whollyowned subsidiary, in the amount of $300,000 for the construction of this mixed usebuilding and require them to place ten year deed restriction on the apartment units tomaintain affordability at 140% Area Median Family Income.

PRIOR ACTIONIREVIEW (Council. Boards, Commissions)

On May 20, 2013, the Housing Committee was briefed on the Hatcher Gardens Projectand approved it unanimously.

FISCAL INFORMATION

General Obligation Commercial Paper Funds - $300,000

OPERS

KKBK Properties, LLC KKBK Properties, LLC

Craig Gant, Esq. Craig Gant, Esq.Jerry Hicks, Esq. Jerry Hicks, EsqKurt Thomas Kurt Thomas


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COUNCIL CHAMBER

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WHEREAS, the City of Dallas seeks to support economic growth in the Southern area

of the city and economic development; and

WHEREAS, KKBK Properties, LLC wishes to partner with the City of Dallas to improve

the property located at 4002 Hatcher Street and to offer commercial and residential

units at this site; and

WHEREAS the Housing Committee was briefed on the Hatcher Gardens Project and

approved it unanimously; and

WHEREAS, the City Council finds that it is in the best interest of the City to enter into

this conditional grant agreement as part of the City’s ongoing program to promote

transit-oriented development and to stimulate business and commercial activity in the

city, NOW, THEREFORE,


SECTION 1. That the City Manager, upon approval as to form by the City Attorney, is

authorized to execute a conditional grant agreement in the amount of $300,000 with

KKBK Properties, LLC, or its wholly owned subsidiary, to provide funding for the

construction of commercial and residential units at 4002 Hatcher Street.

SECTION 2. That the grant agreement is hereby expressly made subject to all of the

following contingencies which must be performed or occur:

(a) KKBK Properties, LLC, or its wholly owned subsidiary, shall begin

construction on 4002 Hatcher Street within one year of this Council Action

(b) KKBK Properties, LLC, or its wholly owned subsidiary, shall complete

construction by December 31, 2014(c) KKBK Properties, LLC, or it wholly owned subsidiary consents to and files

deed restrictions requiring 100% of the units to be rented to tenants with

household incomes at or below 140% Area Median Family Income for a

period often (10) years.

SECTION 3. That the City Manager or designee may extend the start and completion

dates for a period up to three months for just cause.

SECTION 4. That the City Manager is hereby authorized to decrease appropriations in

an amount not to exceed $300,000, in the General Obligation Commercial Paper Fund

1T33, Dept P8W, Unit T839, Object 4599.

COUNCIL CHAMBER

6Q13

SECTION 5. That the City Manager is hereby authorized to increase appropriations inan amount not to exceed $300,000, in the General Obligation Commercial Paper Fund1T52, Dept HOU, Unit S803, Object 3016.

SECTION 6. That the City Controller be authorized to encumber and disburse funds inan amount not to exceed $300,000, in accordance with the terms and conditions of thecontracts as follows:

KKBK Properties, LLC Vendor # VS0000078632

Fund 1T52, Unit S803, Dept HOU, Obj 3016, CT HOUS8O4I13O

SECTION 7, That this resolution does not constitute a binding agreement upon theCity or subject the City to any liability or obligation with respect to the loans, until suchtime as the deed restrictions are duly approved by all parties and executed.

SECTION 8. That this resolution shall take effect immediately from and after itspassage in accordance with the provisions of the Charter of the City of Dallas, and it isaccordingly so resolved.

Economic Vibrancy

AGENDA DATE: June 26, 2013

2


CMO: Ryan S. Evans, 670-3314

46K

Authorize a conditional grant agreement in the amount of $500,000 with Jubilee Park

Community Center Corporation (JPCCC) to provide funding for the acquisition,demolition, relocation, predevelopment and construction of the Jubilee Neighborhood

Project — Not to exceed $500,000 - Financing: General Obligation Commercial Paper

Funds

BACKGROUND

On June 3, 2013 the Housing Committee of the City Council was briefed on the

proposed Jubilee Neighborhood Project. Jubilee Park Community Center Corporation

(JPCCC) has formally requested that the City of Dallas participate in the development

of forty single family homes. The Phase I project location is 918 & 1000 Ann Avenue

and will include nine single family homes, JPCCC will partner with East Dallas

Community Organization (EDCO) for the development and management of this project.

The proposed development is part of the greater economic development strategy for

the neighborhood which includes housing. Other projects in the immediate

neighborhood include: the Jubilee Head Start Center, Community Resource Center,

Congo Street Homes, Community Center, and the Seniors multifamily project.

This action would provide a conditional grant to JPCCC in the amount of $500,000 for

the Phase I development to include acquisition, demolition, relocation, predevelopment

and construction costs, not to exceed $50,000 in predevelopment reimbursement and

$25,000 in construction subsidy per housing unit. Once constructed, JPCCC will be

required to place a five year deed restriction on the single family units to maintain

affordability at 140% Area Median Family Income. JPCCC has agreed to match fund

$500,000 with the City’s commitment of $500,000.

On June 3, 2013, the Housing Committee was briefed on the Jubilee Neighborhood

Project and approved it unanimously.

FISCAL INFORMATION

General Obligation Commercial Paper Funds $500,000

OWNER(S)IDEVELOPER(S)

Jubilee Park Community Center Corporation

Tom Harbison, Chairman of Board

Ben Leal, Executive Director


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WHEREAS, the City of Dallas seeks to support economic growth in the Southern area

of the city and economic development; and

WHEREAS, Jubilee Park Community Center Corporation (JPCCC) wishes to partner

with the City of Dallas to provide forty single family homes in the Jubilee Neighborhood:

and

WHEREAS, the Housing Committee was briefed on the Jubilee Neighborhood Project

and approved it unanimously: and

WHEREAS, the City Council finds that it is in the best interest of the City to enter into

this conditional grant agreement as part of the City’s ongoing program to promote

housing as a part of greater economic development plans in the city, NOW,

THEREFORE,


SECTION 1. That the City Manager, upon approval as to form by the City Attorney, is

authorized to execute a conditional grant agreement in the amount of $500,000 with

Jubilee Park Community Center Corporation (JPCCC) to provide funding for the

acquisition, demolition, relocation, predevelopment and construction of the Jubilee

Neighborhood Project

SECTION 2. That the grant agreement is hereby expressly made subject to all of the

following contingencies which must be performed or occur:

(a) JPCCC shall begin construction on Phase I of the Jubilee Project within

one year of this Council Action(b) JPCCC shall complete construction by December 31, 2014

(c) JPCCC will be required to prove match funding prior to the construction

start of the nine homes(d) JPCCC consents to and files deed restrictions requiring 100% of the units

to be sold to homebuyers with household incomes at or below 140% Area

Median Family Income for a period of five (5) years.

SECTION 3. That the City Manager or designee may extend the start and completion

dates for a period up to three months for just cause.

SECTION 4. That the City Manager is hereby authorized to decrease appropriations in

an amount not to exceed $500,000, in the General Obligation Commercial Paper Fund

1T33, Dept PBW, Unit T839, Object 4599.

COUNCIL CHAMBER

2013


SECT1ON 6. That the City Controller be authorized to encumber and disburse funds in

an amount not to exceed $500,000, in accordance with the terms and conditions of thecontracts as follows:

Jubilee Park Community Center Corporation Vendor #356593

Fund 1T52, Unit S803. Dept HOU, Obj 3016, CT HOUS9O4I131

SECTION 7. That this resolution does not constitute a binding agreement upon the

City or subject the City to any liability or obligation with respect to the loans, until suchtime as the deed restrictions are duly approved by all parties and executed.

SECTION 8. That this resolution shall take effect immediately from and after its

passage in accordance with the provisions of the Charter of the City of Dallas, and it isaccordingly so resolved.

Economic Vibrancy

AGENDA DATE: June 26, 2013

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Authorize a conditional grant agreement in the amount of $650,000 with FrazierRevitalization Inc. (FRI) to provide funding for the acquisition, demolition, relocation,predevelopment and construction of the Hatcher Square Project — Not to exceed

$650,000 - Financing: General Obligation Commercial Paper Funds

BACKGROUND

On June 3, 2013 the Housing Committee of the City Council was briefed on theproposed Hatcher Square Project. Frazier Revitalization Inc. (FRI) has formallyrequested that the City of Dallas participate in the development of the transit orienteddevelopment which will include thirty-nine single family homes, retail and commercialspace, fifty multifamily units, and medical/office space. The project area is bounded byBertrand, Scyene, Hatcher, and Lagow. The site is located immediately north of theDART Green Line Scyene/Hatcher Station.

The proposed development includes several phases: Phase I —single family homes,Phase Il-medical/office facility, and Phase Ill — construction of multifamily andcommercial/retail space. Phase I is broken up into three (3) parts over a two (2) yearperiod. With infrastructure installation, six homes are scheduled to be built in 2013,twenty-eight homes in 2014, and five homes in 2015.

This action would provide a conditional grant to FRI in the amount of $650,000 for the

Phase I development to include acquisition, demolition, relocation, predevelopment andconstruction costs, not to exceed $50,000 in construction subsidy per unit. Onceconstructed, FRI will be required to place ten year deed restriction on the single familyunits to maintain affordability at 140% Area Median Family Income.

PRIOR ACTION/REVIEW (Council, Boards, Commissions)

On June 3, 2013, the Housing Committee was briefed on the Hatcher Square Projectand approved it unanimously.

FISCAL INFORMATION

General Obligation Commercial Paper Funds $650,000

OWNER(S DEVELOPER(S)

Frazier Revitalization, Inc. Frazier Revitalization, Inc.

Dorothy Hopkins, President & CEO Dorothy Hopkins, President & CEO


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WHEREAS, the City of Dallas seeks to support economic growth in the Southern areaof the city and economic development; and

WHEREAS, Frazier Revitalization Inc. (FRI) wishes to partner with the City of Dallasto improve the property bounded by Bertrand, Scyene, Hatcher, and Lagow and to offermixed-use development at this site; and

WHEREAS, the Housing Committee was briefed on the Hatcher Square Project andapproved it unanimously; and

WHEREAS, the City Council finds that it is in the best interest of the City to enter intothis conditional grant agreement as part of the City’s ongoing program to promotetransit-oriented development and to stimulate business and commercial activity in thecity, NOW, THEREFORE,


SECTION 1, That the City Manager, upon approval as to form by the City Attorney, isauthorized to execute a conditional grant agreement in the amount of $650,000 withFrazier Revitalization Inc. (FRI) to provide funding for the acquisition, demolition,relocation, predevelopment and construction of the Hatcher Square Project

SECTION 2. That the grant agreement is hereby expressly made subject to all of thefollowing contingencies which must be performed or occur:

(a> FRI shall begin construction on Phase I of the Hatcher Project within oneyear of this Council Action

(b) FRI shall complete construction by December 31, 2014(c) FRI consents to and files deed restrictions requiring 100% of the units to

be sold to homebuyers with household incomes at or below 140% AreaMedian Family Income for a period often (10) years.

SECTION 3. That the City Manager or designee may extend the start and completiondates for a period up to three months for just cause.

SECTION 4. That the City Manager is hereby authorized to decrease appropriations inan amount not to exceed $650,000, in the General Obligation Commercial Paper Fund1T33, Dept P8W, Unit T839, Object 4599,

COUNCIL CHAMBER

çg013


SECTION 6. That the City Controller be authorized to encumber and disburse funds inan amount not to exceed $650000, in accordance with the terms and conditions of thecontracts as follows:

Frazier Revitalization Inc. Vendor # VS0000060090

Fund 1T52, Unit S803, Dept HOU, Obj 3016, CT HOUS8041132

SECTION 7. That this resolution does not constitute a binding agreement upon theCity or subject the City to any liability or obligation with respect to the loans, until suchtime as the deed restrictions are duly approved by all parties and executed,

SECTION 8. That this resolution shall take effect immediately from and after itspassage in accordance with the provisions of the Charter of the City of Dallas, and it isaccordingly so resolved.

Memorandum

CITY OF DALLAS

June 14, 2013

Members of the Housing Committee,Carolyn Davis (Chair), Scott Griggs, (Vice-Chair) Linda Koop, Pauline Medrano, DwaineCaraway

SUBJECT Loan Amendment for City Wide CDC (Addendum)

As briefed in December 5, 2012 to the City Council Housing Committee, the Lancaster/KiestDevelopment included four phases. On December 12, 2012, the City Council authorized aDevelopment Agreement with City Wide Community Development Corporation to coordinateall acquisitions, demolitions, environmental work, relocations, predevelopment, andconstruction for the four phases of the project.

On June 26. 2013, the City Council will consider a modification to the loan agreement toincrease the budget from $600,000 to $734,500 from 2006 General Obligation Bond Funds forthe purpose of completing the demolition and predeveloprnent for the four phases.

Should you have any questions, please contact me at (214) 670-3296.


C: The Honorable Mayor and Members of the City CouncilMary K. Suhm. City ManagerRosa Rios, City SecretaryTom Perkins Jr., City AttorneyCraig Kinton, City AuditorDaniel Solis, Administrative Judge, Municipal CourtA.C. Gonzalez, First Assistant City lvi anagerJill A. Jordan, P.E.. Assistaiit City ManagerForest Turner, Assistant City ManagerJoey Zapata, Assistant City ManagerJeanne Chipperfield, Chief Financial OfficerJerry Killingsworth, Director, Housing/Community Services DepartmentBernadette Mitchell, Assistant Director, Housing/Community Services DepartmentStephanie Pegues-Cooper, Assistant to the City Manager

2013 jun 13 am if: 21 memorandum - dallas · 2013 jun 13 am if: 21 memorandum city of dallas date...

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