City Property Sale Process (26-381A)
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Real Estate: Process for the Sale of City Property [John Johnson, Director, Facilities and Real Estate]
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Verify legal notice type for North Stemmons housing lease
Why now: The agenda titles this item 'City Property Sale Process' but the filed transaction is a 75-year lease between the Dallas PFC and Good Homes Communities, LLC, and it has moved through two briefings (Jan 26, Feb 3) without the notice question being addressed.
What to do: Pull the public notice filed for this item and confirm it cites Public Facility Corporation lease procedures (Local Government Code Chapter 303), not property sale/disposal procedures — if it doesn't, the affordability covenants are exposed to a third-party challenge that could void them before any tenant moves in.
Act before: After statutory challenge period expires
Request draft lease for North Stemmons mixed-income project
Why now: This is the only Dallas PFC lease with any disclosed deal terms after two Finance Committee briefings (Jan 26, Feb 3) — the $16,837,803 foregone-revenue figure is the sole hard number in the record, and the covenant structure isn't public yet.
What to do: Request the draft lease for 6950 North Stemmons Freeway from city staff now — the income-targeting thresholds and affordability covenant structure in this 75-year Dallas PFC deal will set the template staff expects on future PFC mixed-income projects, and your ability to negotiate different terms closes once this lease is executed.
Act before: After lease is executed by Dallas Public Facility Corporation board
Investigate North Stemmons lease ownership and title mismatch
Why now: After two Finance Committee briefings (Jan 26 and Feb 3), the only public figure is $16,837,803 in foregone tax revenue and the LLC receiving the 75-year lease has no disclosed principals.
What to do: File a public information request for Good Homes Communities LLC's ownership structure and the full draft lease for 6950 North Stemmons Freeway, and press city staff on why the agenda calls this a 'City Property Sale Process' when the filed transaction is a 75-year lease — a statute mismatch that could mean the item wasn't noticed correctly.
Act before: After records request response (typically 10 business days)
Lobby Finance Committee before North Stemmons lease vote
Why now: The item has appeared twice as a briefing/memorandum in Draft status without moving to a vote, signaling the deal terms are still being shaped.
What to do: Meet with Committee on Finance members now — after two straight briefing-only appearances (Jan 26 and Feb 3) with no vote scheduled, the affordability covenants and income-targeting thresholds for this 75-year lease are still open, and that negotiating window closes the moment a vote is scheduled.
Act before: After next hearing on this item
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Real Estate: Process for the Sale of City Property [John Johnson, Director, Facilities and Real Estate]
Real Estate: Process for the Sale of City Property [John Johnson, Director, Facilities and Real Estate]