Apr23Wed
Dallas
City Council
Past Meeting
Agenda · 4 items
City Council
Dallas, TX
Apr 23, 2025
Regular Meeting
Agenda item·CONSENT AGENDA Items 2-45·Item 23
Authorize the City Manager to negotiate and execute a forgivable development loan agreement and security documents with Braniff Lofts LP, an affiliate of Sycamore Strategies, LLC (together, the Applicant) in an amount not to exceed $ 7,000,000.00 in American Rescue Plan Act (ARPA ) Redevelopment Fund (name of fund for accounting purposes, but no federal funds are being used ), for the development of Braniff Lofts, a 48-unit permanent supportive housing complex located 2801 Wycliff Avenue, Dallas, Texas 75219 (Project ) - Not to exceed $ 7,000,000.00 - Financing: ARPA Redevelopment Fund
Also decided: Authorize the Dallas Public Facility Corporation to (1) acquire, develop, and own 5550 LBJ, a mixed -income multifamily development to be located at 5550 Lyndon B. Johnson Freeway, Dallas, Texas 75240 (Project) ; and (2) enter into a seventy -five- year lease agreement with High Street Residential, Inc. or its affiliate, for the development of the Project - Estimated Revenue Forgone: General Fund: $170,331,504.00 (see Fiscal Information)
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