1910 East Wheatland Road (File 26-2926A)
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Authorize the Dallas Public Facility Corporation to (1) acquire, develop, and own the University Hills, a mixed-income, multifamily development to be located at 1910 East Wheatland Road, Dallas Texas 75241 (Project); and (2) enter into a 75-year lease agreement with UH Multifamily Development 1, LLC, an affiliate of Hoque Global Partnership, LLC and Anchor Capital Partners, LLC, for the development of the Project - Estimated Revenue Foregone: General Fund $3,657,529.91 (for 60 years; see Fiscal Information) *In alignment with Dallas Housing Resource Catalog.
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Obtain the 75-year lease for the University Hills apartments
Applies if: You represent a party to, or an interested party in, the University Hills deal
Context: Council approved the 75-year lease on 2026-10-14 while the record shows revenue foregone estimated only over 60 years, and no implementation milestone is verified in the supplied record.
Recommended: Pull the executed lease and related agreements between the Dallas Public Facility Corporation and UH Multifamily Development 1, LLC. Check the affordability commitments, termination or default terms, and what happens in years 61 to 75, when the revenue-foregone estimate stops but the lease continues.
Request fiscal analysis behind apartment tax-foregone estimate
Context: The council item approved on 2026-10-14 pairs a 75-year lease with an estimated $3,657,529.91 in revenue foregone "for 60 years", a mismatch the public record does not explain.
Recommended: Request the fiscal information attachment and the calculation behind the $3,657,529.91 General Fund revenue foregone figure for the University Hills public facility corporation deal. Ask what assumptions, such as property value and tax rates, were used, and why the lease runs 75 years while the revenue estimate covers only 60.
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Timeline
Authorize the Dallas Public Facility Corporation to (1) acquire, develop, and own the University Hills, a mixed-income, multifamily development to be located at 1910 East Wheatland Road, Dallas Texas 75241 (Project); and (2) enter into a 75-year lease agreement with UH Multifamily Development 1, LLC, an affiliate of Hoque Global Partnership, LLC and Anchor Capital Partners, LLC, for the development of the Project - Estimated Revenue Foregone: General Fund $3,657,529.91 (for 60 years; see Fiscal Information) *In alignment with Dallas Housing Resource Catalog.