Before Hearing, Read City's $13-Mil HUD Loan Application for Lake Highlands Town Center

Categories: City Hall, Crime
lakehighlandstowncenteraerial1.jpg
Via.
Earlier this month we noted that the city hopes to use $13 million in federal funds to turn 70 acres at Walnut Hill and Skillman into, you know, the Lake Highlands Town Center, where ground was broken way back in November 2007. Behold: On the city's website you'll find a draft of the application the city will send to the Department of Housing and Urban Development in the hopes of securing that Community Development Block Grant Section 108 guaranteed loan; it's been posted in advance of a January 12 town hall at the Audelia Road Dallas Public Library Branch.

As you may recall, Office of Economic Development Director Karl Zavitkovsky told us the money would be used for a parking garage, because, as he explained, "Essential to the retail is a grocer anchor, and that needs to have parking." The application, which offers significantly more detail, acknowledges: The project has become quite the undertaking and "is characterized by an unprecedented public/private partnership involving Tax Increment Financing (TIF) funding as well as funding from the City of Dallas, Dallas County and the North Central Texas Council of Governments for direct investment in the public infrastructure."

But it still needs the $13.35 million to kickstart development, fingers crossed by April; the first phase will include the still-unnamed grocery anchor (57,186 square feet) and some 100,00 square feet of retail and restaurants. From the application:
This Section 108 funds will be used to construct the commercial space and structured parking facility above and below ground to accommodate patrons of the businesses that will occupy the 166,000 square feet of commercial improvements space developed in Phase I. The commercial development providing for new businesses will be the impetus for creation of approximately 460 permanent jobs that will provide employment opportunities for low- to moderate-income individuals.
Read the whole thing here.

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9 comments
LH Dad
LH Dad

What sort of pictures do the Prescott kids have of the City leaders? Or is there a financial incentive? Why is the City continually giving financial support for a project that obviously cannot make it on its own. There ahs to be a back story here; LH does not need this development, as is obvious by the lack of retail interest/commitment.

DC
DC

Here is how bad the fraud regarding the use of CDBG funds by these cities has become:

http://www.chron.com/news/hous... 

None of these cities want blacks to live anywhere near whites!!!!!! 

Gosspl
Gosspl

So they need $13+ million to build a parking garage, even though this development is directly connected to both Dart Bus and Rail and has plenty of space for surface parking already. 

If the grocery anchor wants the garage so badly, why don't they pay for it? Why must tax-payers incentivize and finance a private industry's expansion and growth?  Come on people. It's thinking like this that has bankrupted our government, given us endless sprawl, all while the developers keep cashing those checks. This just gives me a case of hurt head.

Ed D.
Ed D.

"funding...for direct investment" is code for "we're giving a big chunk of taxpayer money to one of our pals" with a hint of "suck it, free market!" as a top note.

Grumpy Demo
Grumpy Demo

Community Development Block Grants are suppose to help disadvantaged neighborhoods not help a developer make a profit from a poorly planned development in one of Dallas' wealthier neighborhoods. Will the garage be for low-to-moderate income cars only?

Wow, it like that lawsuit against the City for misuse of these same funds never happened.http://www.dallasobserver.com/...This looks like evidence of exactly what the plaintiffs are suing about.

Get the HUD loan to bail out the developers' banks and get them off the hook for their liability for the loan.

Nosotros
Nosotros

The main difference being, Annise Parker, the Mayor of Houston, was smart enough to realize how much trouble they were in with the Feds and the risk of a False Claims Lawsuit, so she handed over the key's to the Housing Department. A very rare incident, but a much better choice than ending up like Dallas with a Multi-Billion Dollar False Claims Lawsuit, with no way out. 

Great move Annise Parker! If only Dallas City Hall was as smart as you. 

Guest
Guest

We are talking about TEXAS cities, of course. Other states are not nearly as prehistoric. 

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