Oak & Ellum Affordable Housing Acquisition (25-923A)
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Authorize (1) acquisition by the Dallas Housing Finance Corporation (DHFC) of Oak & Ellum, an existing market-rate multifamily development located at 2627 Live Oak Street, Dallas, Texas 75204 for development of affordable housing; and (2) receipt and deposit of $1,489,361.00 from Waterford Property Company, LLC (Applicant) into the Tax Increment Financing Reinvestment Zone Number Twelve (Deep Ellum TIF District or TIF District) Fund as a one-time payment in lieu of annual tax increment for tax years 2025, 2026, and 2027 - Estimated Revenue Foregone: $9,502,325.00 to the City General Fund $8,012,964.00 (estimated taxes over 15-year period)
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Verify deed restrictions were recorded for Live Oak Street housing acquisition
Context: City Council authorized the DHFC acquisition on March 26, 2025; recording deed restrictions post-closing is the standard step that makes the affordability obligation binding on the property in perpetuity.
Recommended: Check Dallas County deed records to confirm that use restrictions and affordability covenants for the Oak & Ellum project at 2627 Live Oak Street were properly recorded following the Dallas Housing Finance Corporation closing — these covenants are the enforceable legal mechanism behind the $9.5M affordability commitment.
Request public records for Live Oak Street affordable housing deal
Context: City Council approved the DHFC acquisition on March 26, 2025, with Waterford Property Company as development partner and $9.5M in estimated General Fund revenue foregone, with no public summary of affordability period length or unit income limits.
Recommended: File a public information request for the executed Dallas Housing Finance Corporation acquisition agreement, affordability covenant, and income-targeting terms for the Oak & Ellum project at 2627 Live Oak Street — the city authorized $9.5M in foregone tax revenue but the contract terms are not in the public-facing meeting record.
Ask city for affordable housing details at 2627 Live Oak Street
Context: City Council approved the DHFC acquisition for the Oak & Ellum mixed-income housing project on March 26, 2025, committing $9.5M in estimated foregone tax revenue, but unit count and income-targeting specifics are absent from the public meeting record.
Recommended: Contact your district council office or the Dallas Housing Finance Corporation directly to learn how many units will be income-restricted, at what income levels, and when construction is expected to begin at 2627 Live Oak Street near Deep Ellum.
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Authorize (1) acquisition by the Dallas Housing Finance Corporation (DHFC) of Oak & Ellum, an existing market-rate multifamily development located at 2627 Live Oak Street, Dallas, Texas 75204 for development of affordable housing; and (2) receipt and deposit of $1,489,361.00 from Waterford Property Company, LLC (Applicant) into the Tax Increment Financing Reinvestment Zone Number Twelve (Deep Ellum TIF District or TIF District) Fund as a one-time payment in lieu of annual tax increment for tax years 2025, 2026, and 2027 - Estimated Revenue Foregone: $9,502,325.00 to the City General Fund $8,012,964.00 (estimated taxes over 15-year period)