1400 Belleview April Update

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1400 Belleview April Update

  1. 1. April 2011Application Process: The application (#11127) was submitted March 1st. In the pastmonth verification has been received of CNA support as well as letters from StateRepresentatives Eric Johnson and State Senator Royce West to maximize our score.Support letters were also submitted by Deputy Mayor Pro Tem Pauline Medrano, DARTand the Dallas County Community College District. Our team is very appreciative of thesustained support. The required housing market study was completed by the nationallyrecognized firm Novogradac and confirmed demand for the project.TIF Funds: The 1400 Belleview project application identified a $1.7 millioncontribution from the City of Dallas Cedars Tax Incremental Financing (TIF) District.TIF funds shall be used for infrastructure and off site improvements that support theproject and enhance the neighborhood. The Cedars TIF District has available fundsenabling 1400 Belleview to immediately access resources to complete the project. Theapplication for TIF funds was submitted to the City in March and will be consideredJune 8, 2011.TDHCA Public Hearing: The staff of the Housing Tax Credit (LIHTC) department ofthe Texas Department of Housing and Community Development (TDHCA) is hosting apublic hearing Thursday, April 14, 2011 at the J. Erik Jonsson Central Library, 1515Young Street commencing at 6:00PM. The public hearing offers the chance for thelocal community to voice their comments and contribute to the process of facilitatingquality mixed-use development in the Cedars neighborhood.Cedars District Retail Recruitment: During presentations by Matthews Southwest(MSW) to the CNA in January 2011, members posed questions related to retailrecruitment efforts for both 1400 Belleview as well as the entire neighborhood. MSWvolunteered to join a CNA “retail recruitment committee” to strategize on the types ofbusinesses and services members considered appropriate for the neighborhood (ie.grocery store, pharmacy, etc.). MSW remains committed to participating at the requestof the CNA.Information: Signage has been posted on the site to help inform area residents ofthe location and design of the proposed building. A web site (www.1400belleview.com)is under construction with links to the CNA, South Side on Lamar, Matthews Southwestand other appropriate links. Both the web site and property sign identify the contactemail: 1400belleview@gmail.com for further information. 1660 S Stemmons Fwy, Suite 100, Lewisville, TX 75067 Telephone: 972-221-1199 Email: 1400belleview@gmail.com

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