1600 Pacific Avenue May Still Get Do-Over
|The old LTV Tower on 1600 Pacific Avenue, still in need of a do-over|
A look at the agenda for Thursday's meeting of the Downtown Connection Tax Increment Financing District's board reveals that the city's in possession of a development agreement with something called Ricchi Dallas Investments LLC to redo 1600 Pacific. (Update: According to the Texas Secretary of State's records, Ricchi Dallas was formed in September -- and is actually based in McAllen and managed by grocer Leobardo Trevino.) The agreement, of course, does include TIF incentives worth almost $13 million, including interest, for redevelopment of eight floors; the old LTV spans 33 floors, so not sure exactly how this'll work. (Messages have been left all over City Hall; will update accordingly.)
Oh, and another interesting item on the TIF board's agenda: "Review of the preliminary plans for the expansion of the Joule Hotel. For informational purposes only."