Professional Documents
Culture Documents
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KEY FOCUS AREA:
ECONOMIC VIBRANCY
PURPOSE:
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2006 General Obligation Bonds
November 2006 – a $41.5M in General
Obligation Bonds was approved by voters to
fund:
Southern Sector
Public Infrastructure for City right-of-ways or
dedicated easements, and may be used for
planning, designing, constructing, improving,
extending and expanding public streets, and
utilities
Economic development projects in connection
with commercial, retail, residential, and mixed-
use development
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2006 General Obligation Bonds (cont’d)
Other areas of the City
Transit Oriented Developments for economic
development projects in connection with
commercial, retail, residential, and mixed-use
development
Uses include development through:
Acquisition of land including improved and
unimproved properties, the demolition of existing
structures, making loans and grants, and otherwise
providing assistance for private commercial,
industrial, retail, residential and mixed-use
developments
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“The Bottom”
Community-Wide Master Plan
This Plan outlines a comprehensive vision for the
area, developed in cooperation with residents, local
churches, and private/public sector entities
Revitalization of the Bottom by creating a desirable
community and reestablishing this neighborhood
through partnerships
Texas Heavenly Homes, Ltd. (THH)
Bottom Community Leadership
Golden Gate Missionary Baptist Church
Shiloh Missionary Baptist Church
Golden S.E.E.D.S. Foundation
City of Dallas 5
“The Bottom”
Community-Wide Master Plan (cont’d)
Located in City Council District 7
The west half of the Bottom has benefited from sizable
investments from
Golden Gate Missionary Baptist Church (GGMBC)
Shiloh Missionary Baptist Church
Both maintain a strong presence
The City of Dallas has included the “Tenth Street
Bottoms” area in the Trinity River’s Economic Land Use
Plan and incorporated proposed land uses as part of
the “forwardDallas” plan
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“The Bottom”
Community-Wide Master Plan (cont’d)
Bound by I-35 to the west, the Trinity River to
the north, Corinth St. to the east and 8th St. to
the south
Of approximately 92 acres with 142
predominately small single-family homes
Of 307 vacant lots, roughly 68% of the lots
directly adjacent to the Trinity River Levee are
vacant and on dead-end streets
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The Bottom
Community-Wide Master Plan Legend
Area 1: Commercial/Low Rise consist of primarily
ground floor retail or office with surface parking
Area 2: Single-family residential with yards on the side,
front and rear, driveways with detached or attached
garage
Area 3: Commercial/Mid-Rise consist of mainly ground
floor retail with additional uses above
Area 4: Yvonne A. Ewell Townveiw Center
Area 5: Green space and Parks- Eloise Lundy Park
Area 6: Multi-family Residential/Mid-Density
Area 7: Harllee Elementary School
Area 8: Dallas Housing Authority Brackins Village
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Area 1:
Commercial/Low Rise
Land development will consist of
primarily ground floor retail or office with
surface parking
Ideal for small shop retailers serving the
needs of the community
Development occurring along highly visible
corridors with a high traffic volume
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Area 1:
Golden Gate Missionary Baptist Church
Civic/Institutional/Religious
GGMBC, “The Flagship Church”, was
established in the 1930’s in a small
house across from the church’s present
location
In 1934, a frame building with an annex
built on four acquired lots
GGMBC has expanded into the largest
congregation in the Bottom
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Area 1:
Golden Gate Missionary Baptist Church (cont’d)
Church Campus
GGMBC continue to acquire adjacent properties with
church funds, assembling sufficient property to construct
new
Dining hall and kitchen
K-12 boy’s school
Children’s ministry
Office space and classrooms
Housing for elderly, and
Recovery Village – housing for men formerly engaged in
substance abuse
GGMBC now owns 10 lots, with the goal of assembling
a sufficient critical mass to fully realize it’s vision 12
Area 1:
Golden Gate Missionary Baptist Church (Cont’d)
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Area 2:
Single-family
Single-family consisting of:
Freestanding dwelling
units with yards
Driveways and/or alleys
with a detached or
attached garage
Separate lots maintained
by owner
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Area 3:
Commercial/Mid-Rise
Commercial/Mid-Rise
consisting of
Mainly ground floor retail
with additional use above
Additional retail and/or
office use
Parking on adjacent
surface lots and/or
structured parking
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Area 4:
Yvonne A. Ewell Townview Center
Townview, DISD flagship
incorporates six independent
magnet schools
Gifted and talented
Science and engineering
Government, law and law
enforcement
Business and management
Education and social services
Health professions
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Area 5:
Green space and Parks
Open space/park areas
consist of:
Land set-aside for
public use and
enjoyment
Few to no buildings
and area maintained
for public recreation or
preservation
Single lot/block or
span many acres
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Area 5: Eloise Lundy Park
Trinity Gateway Amphitheater (cont’d)
Future Bond sales could
include pedestrian access
directly from Bottom to
River floodway and a
public gathering space
such as an outdoor
amphitheater
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Area 6:
Multifamily Residential/Mid-Density
Multifamily residential/Mid-
density consists of:
Freestanding buildings,
one to multiple levels
Dwelling units with
bedroom(s), kitchen,
living areas
Both indoor and outdoor
common space, as well
as parking and other
amenities
May include small retail
establishments
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Area 6:
8th St Retail @ Hutchins (cont’d)
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Area 8: Brackins Village
Dallas Housing Authority
“The Village”, a 152-unit
complex with numerous
multi-family structures
in good repair
Was constructed in
1952 as an addition to
the Frazier Courts
complex on Hatcher
Street
DHA is planning future
demolition and
replacement
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Housing: Texas Heavenly Homes, Ltd
Applicant
Texas Heavenly Homes, Ltd., a subsidiary of Hanover Property
Management Company, a Texas Land Development Co.
THH formed in 2004 for the explicit purpose of redeveloping the
Bottom
Hanover Properties
Richard LeBlanc, Executive Vice-President
Hanover has over 30 years of land development experience in
Dallas/Ft. Worth
Approximately 4,000 acres developed for residential
Over 6500 lots developed with home construction coordinated with
builders
Developer of Master-Plan Communities for custom, middle-
market, second-time homebuyer communities with high quality
residential development
Lowes Farm and Mira Lagos, located adjacent to Joe Pool Lake, are
approximately 1,000 acres of mixed-income communities
Hanover Retail/Commercial development often accompanies the
residential
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Texas Heavenly Homes, Ltd (Cont’d)
THH Founders
Richard LeBlanc, Chairman
Gabriel Meadows, President, and Limited Partner
5950 Berkshire Lane, Ste. 1200
Dallas, TX 75225
THH has made a commitment to building quality homes
that are affordable
Single family housing will replace existing vacant lots and
substandard housing
THH owns approximately 40 lots and has 15 under
contract
THH has identified 25 Dallas Land Bank lots that they
intend to acquire
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Texas Heavenly Homes, Ltd (Cont’d)
THH funding request is for:
Land acquisition – vacant, improved blighted and/or
crime ridden residential properties
Predevelopment expenses (i.e. environmental assessment,
appraisal, survey)
Demolition and Relocation
Bond funds not to exceed appraised value plus
demolition
For the purpose of constructing residential
Single-family homes will sell for $110,000 to $130,000
with floor plan starting at 1233 sq’ to 1900 sq’
Residential development will include driveways and/or
alleys with a detached or attached garage
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Texas Heavenly Homes, Ltd (Cont’d)
Funding
Sources:
Equity $* 205,000
2006 Bond Funds $ 500,000
Total $ 705,000
Uses:
Acquired Lots $ 205,000
Property Acquisition** $ 500,000
Total $ 705,000
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THH Model Homes (cont’d)
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THH Model Homes (cont’d)
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THH Model Homes (cont’d)
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Texas Heavenly Homes, Ltd. Loan
The initial loan amount will be $500,000 in Bond
funds
Any additional Bond commitments will be
evaluated after next Bond Sale in November
2008
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THH, Ltd. Loan (Cont’d)
Loan Terms:
Zero percent interest with maturity date of
seven (7) years
If Borrower fails to expend all of the Loan
proceed within two years of execution of the
Note, or to redevelop the acquired properties
with residential units within seven years of
execution of the Note, then the portion of the
project expenditures for projects that are
incomplete will be due and payable
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THH, Ltd. Loan (Cont’d)
Upon CO, Borrower will be released from
indebtedness on the Note for corresponding Bond
loan proceeds advanced and the Bond Deed
Restrictions terminated on that property
City funding will not exceed appraised value for
acquisition
New deed restrictions to the homebuyers will be
placed on the land and improvements if federal
funds are used
All other funding and required financing (Gap) to
be provided by THH
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THH, Ltd. Loan (Cont’d)
If Borrower fails to comply with the
expenditure or construction requirements, the
City of Dallas has the option to require
Borrower to convey fee simple title to the
properties acquired with Bond funds under the
loan, to the City, free of any liens or
encumbrances not acceptable to the City
If Borrower obtains acquisition loans from
another Lender for remainder of acquisition
costs, the City will subordinate its lien position
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Recommendation
That the Housing Committee approve the
Bottom proposal for City Council
consideration to:
Texas Heavenly Homes, Ltd., award of
$500,000 in 2006 Bond Funds
Evaluation of progress on Bottom
revitalization project after November ’08
Bond Sale and possible addition of $500,000
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Next Steps
Continue discussions with THH on terms of
loans and obligations of funds
June 25, 2008 – City Council Consideration
of $500,000 in Bond Funds
July 2008 Acquisition residential properties to
begin
January 2009 – Evaluate timing of future
funding of project
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