[00:00:01]
LANDOWNER, L L C, NECESSARY FOR THE ACQUISITION OF APPROXIMATELY 2.85 ACRES OF LAND, LOCATED AT 1 15 20 NORTH CENTRAL EXPRESSWAY AND ENTERING INTO A LONG-TERM GROUND LEASE WITH CYPRESS CREEK FOREST LANE, LP, AND MANAGEMENT OF THE LAND.UM, AND SO NOW I'M GONNA TURN IT OVER TO MR. HINES TO, UM, GIVE US SOME, UH, DISCUSSION OR A BRIEFING ON THIS.
UH, SO WHAT WE HAVE IN FRONT OF US TODAY IS A, UH, 9% HOUSING TAX CREDIT APPLICATION THAT THE CITY RECEIVED IN, UH, OUR TWO 2021 ROUND OF 9% COMPETITIVE HOUSING TAX CREDITS.
UH, THE DEVELOPMENT IS 200 UNITS, UH, 107 OF THE UNITS ARE RESERVED FOR 80% A M I RENTS AND BELOW, AND THEN 93%, 93 UNITS ARE AT MARKET RATES.
IT'S LOCATED AT 11 5 20 NORTH CENTRAL EXPRESSWAY, BASICALLY AT THE CORNER, THE SOUTHEAST CORNER OF FOREST LANE AND, UH, US 75.
UH, THIS, THIS, LIKE I SAID, THIS PROJECT DID RECEIVE APPROVAL FROM CITY COUNCIL TO BE AN AFFORDABLE HOUSING DEVELOPMENT AND RECEIVE 9% HOUSING TAX CREDITS THROUGH OUR STANDARD PROCESS.
UH, IT ALSO ACTUALLY RECEIVED AN AWARD OF TAX CREDITS FROM, UH, T D H C A.
UH, IT'S AL IT'S, IT'S ABOUT A, THAT NUMBER IS WRONG.
IT'S ABOUT A 50 MILLION PROJECT.
UM, IT WILL HAVE ALL OF OUR STANDARD, UH, IT'S A, IT'S A FOUR STORY CONSTRU, FOUR STORY, FOUR STORY CONSTRUCTION PROJECT WITH WRAP PARKING WITH ALL OF OUR SIMILAR AMENITIES THAT WE SEE ON A LOT OF OUR OTHER DEALS SUCH AS SWIMMING, POOL, UH, FITNESS CENTER, BUSINESS CENTER, THINGS OF THAT NATURE.
UH, STANDARD MENU OF RESIDENT SERVICES WILL ALSO BE PROVIDED.
UH, IT'S IN A, IT QUALIFIED FOR A RESOLUTION OF SUPPORT FROM COUNCIL BECAUSE IT WAS LOCATED IN A CENSUS TRACT WITH A POVERTY RATE BELOW 20.
SO THAT IS CONSIDERED A HIGH OPPORTUNITY AREA BASED ON THE COMPREHENSIVE HOUSING POLICY.
UH, AND AT THIS TIME, THE REASON THAT IT'S COMING TO, UH, THIS, THIS BODY IS BECAUSE THERE ARE DEED RESTRICTIONS, PRIVATE DEED RESTRICTIONS ON THE LAND THAT DO NOT ALLOW FOR MULTIFAMILY HOUSING TO BE DEVELOPED ON THE PROPERTY.
AND SO THE, THE, THE THINKING AND WHAT WE HAVE, HAVE BEEN WORKING ON AND AND ANALYZING THIS IS THIS HAS COME TO US FAIRLY LATE IN THE GAME.
HOWEVER, THE THINKING IS THAT BECAUSE THIS BOARD AND THIS CORPORATION IS A CREATION, UH, CORPORATION CREATED BY THE CITY OF DALLAS, UH, TO SERVE THE PURPOSES OF THE CITY OF DALLAS AND PROVIDE PUBLIC BENEFIT THAT WE WOULD NOT NECESSARILY HAVE TO, UH, BASED ON OTHER CASE LAW IN THE STATE.
IT WAS THOUGHT WE WILL HEAR MORE ABOUT THIS FROM OUR ACTUAL COUNSEL IN AN EXECUTIVE SESSION IN A SECOND.
BUT WE WANTED TO ANALYZE AND TAKE A LOOK ON WHETHER OR NOT WE WOULD BE SUBJECT TO THESE DEED RESTRICTIONS AND OR WHETHER OR NOT WE COULD PROVIDE, UH, AND PARTNER IN THE PROJECT TO PROVIDE THE, UH, TO, TO PARTNER OWN THE LAND, AND THEN BE NOT SUBJECT TO THE DEED RESTRICTIONS AND DEVELOP THE AFFORDABLE HOUSING ON THIS PROPERTY.
SO WITH THAT, I, IF WE ANTICIPATE HAVING AN EXECUTIVE SESSION TO TALK ABOUT THE ISSUES SURROUNDING THE DEED RESTRICTIONS, HOWEVER, UH, WE WOULD, WE DO NEED TO TALK ABOUT THE, IF WE HAVE QUESTIONS ABOUT THE MERITS OF THE DEAL, UH, THE APPROVAL PROCESS THUS FAR, WE HAVE TO DO THAT IN A PUBLIC SETTING.
THE DEVELOPER IS, UH, SYCAMORE STRATEGIES, ZACH CROTCH TANGLE, WHO IS ALSO HERE TO ANSWER ANY QUESTIONS YOU MAY HAVE.
UH, BUT AT THIS TIME WE CAN ALSO, I'LL TURN IT BACK TO YOU, PRESIDENT HEEN, IF YOU WANNA OPEN IT UP FOR DISCUSSIONS ABOUT THE DEAL SPECIFICALLY.
ARE YOU THINKING THAT WE SHOULD DO THAT DISCUSSION BEFORE THE EXECUTIVE SESSION? NO, WE DON'T.
HOWEVER YOU, HOWEVER YOU WANT TO, TO DO THAT.
I, I GUESS IT WOULD, IT WOULD BE NICE TO FRAME OUR FUTURE QUESTIONS BASED ON WHAT WE HEAR IN EXECUTIVE SESSION, I GUESS.
SO, UM, YOU CAN, YOU CAN CALL US TO EXECUTIVE SESSION IF YOU'D LIKE.
IT IS 12:18 PM ON APRIL 12TH, 2022.
THE DALLAS HOUSING FINANCE CORPORA CORPORATION WILL NOW GO INTO CLOSED SESSION UNDER SECTION 5 51 0.07, ONE OF THE TEXAS OPEN MEETINGS ACT ON THE FOLLOWING MATTER DESCRIBED ON TODAY'S AGENDA RESOLUTIONS FOR CYRUS CREEK APARTMENT HOMES AT FOREST LANE, A MULTIFAMILY RESIDENTIAL DEVELOPMENT LOCATED AT 1 1 5 20 NORTH CENTRAL EXPRESSWAY.
A CONSIDER AN ADOPT A RESOLUTION APPROVING AN AGREEMENT WITH CYPRESS CREEK FOREST, L L P L L L C FOR THE ACQUISITION AND DEVELOPMENT OF CYPRESS CREEK APARTMENT HOMES
[00:05:01]
AT FOREST LANE, A MULTI-FAMILY RESIDENTIAL DEVELOPMENT, AND AUTHORIZING THE ASSIGNMENT OF OWNERSHIP TO THE CORPORATION OF CYPRESS CREEK FOREST LANE, G P L L C, THE GENERAL PARTNER OF CYPRESS CREEK FOREST LANE LP, THE PARTNERSHIP DEVELOPING, OWNING AND MANAGING THE PROJECT B.CONSIDER AN ADOPT A RESOLUTION APPROVING THE ASSIGNMENT TO THE CORPORATION OF OWNERSHIP OF CYRUS CREEK FOREST LANE, G P L L C, THE GENERAL PARTNER OF CYPRESS CREEK FOREST LANE LP APPROVING ALL ACTIONS NECESSARY FOR THE ASSIGNMENT OF OWNERSHIP OF THE GENERAL PARTNER TO THE CORPORATION AND APPROVING ALL OTHER ACTIONS NECESSARY FOR THE ACQUISITION, FINANCING, DEVELOPMENT, AND OPERATION OF CYPRESS CREEK.
APARTMENT HOMES AT FOREST LANE.
CONSIDER AND ADOPT A RESOLUTION APPROVING THE CREATION OF A LIMITED LIABILITY COMPANY WITH THE CORPORATION AS THE SOLE MEMBER WITH THE TEXAS SECRETARY OF STATE TO BE NAMED D H F C, CYPRESS CREEK AT FOREST LANE DEVELOPER LLC, AND ALL ACTIONS OF THE DHF C CYPRESS CREEK AT FOREST LANE DEVELOPER LLC NECESSARY FOR THE ACQUISITION, FINANCING, DEVELOPMENT, AND OPERATION OF CYPRESS CREEK APARTMENT HOMES AT FOREST LANE.
CONSIDER AND ADOPT A RESOLUTION APPROVING THE CREATION OF A LIMITED LIABILITY COMPANY WITH THE CORPORATION AS THE SOLE MEMBER WITH THE TEXAS SECRETARY OF STATE TO BE NAMED D H FFC, CYPRESS CREEK AT FOREST LANE LANDOWNER, L L C, AND ALL ACTIONS OF D H F C CYPRESS CREEK AT FOREST LANE LANDOWNER, L L C NECESSARY FOR THE ACQUISITION OF APPROXIMATELY 2.85 ACRES OF LAND LOCATED AT 1520 NORTH CENTRAL EXPRESSWAY AND ENTERING INTO A LONG-TERM GROUND LEASE WITH CYPRESS CREEK FOREST LANE, LP AND MANAGEMENT OF THE LAND.
SO NOW WE WILL LEAVE THIS YEAH.
AT THIS TIME ROOM TIME AND, AND GO INTO EXECUTIVE SESSION, EVERYBODY, UH, YEAH.
SO EVERYONE ONLINE NEEDS TO OPEN UP YOUR SEPARATE TEAMS MEETING AND YOU CAN THE DIRECTORS THAT ARE ONLINE.
SORRY, NO ONE ELSE HAS THE LINK.
THE LINK WAS SENT VIA EMAIL, CORRECT? YEAH, IT WAS SENT VIA EMAIL.
IT SHOULD BE A MICROSOFT TEAMS LINK, AND IT SAYS, UH, D H F C EXECUTIVE SESSION.
[00:46:08]
OKAY.[00:46:09]
THE[00:46:10]
DALLAS[00:46:10]
HOUSING[00:46:10]
FINANCE[00:46:10]
CORPORATION[00:46:11]
HAS[00:46:11]
COMPLETED ITS CLOSED SESSION UNDER SECTION 5 55 0.07, ONE OF THE TEXAS OPEN MEETINGS ACT, AND AT 1:00 PM ON APRIL 12TH, 2022, WE HAVE RETURNED TO OPEN SESSION.SO I THINK WHAT WE NEED TO DO IS START OFF WITH, UM, MAYBE SOMEONE MAKING THE MOTION ON THESE RESOLUTIONS, AND THEN WE COULD HAVE DISCUSSION.
UM, SO DOES ANYONE WANNA MAKE THAT MOTION? I'LL MAKE THE MOTION.
SO BEFORE WE START THE DISCUSSION, I'M GOING TO, UM, IN THE INTEREST OF FULL TRANSPARENCY, I'M GOING TO, UH, LET EVERYONE KNOW THAT, UM, ONE OF THE OWNERS OF ONE OF THE BUILDINGS INVOLVED HERE, UM, IS MY EX-HUSBAND.
SO
UM, AND THEN I JUST WANNA MAKE A STATEMENT OF, OF MY OWN FEELINGS HERE, UM, THAT HAVE NOTHING TO DO WITH THIS PARTICULAR, UH, PROJECT.
UM, AND THAT IS THAT WE REALLY ARE BEING ASKED HERE TO MAKE WHAT I WOULD CALL A POLICY DECISION FOR THE DALLAS HOUSING FINANCE CORPORATION.
AND THAT POLICY DECISION IS, DO WE WANT TO, UM, UH, UH, UM, APPROVE DEALS THAT MIGHT REQUIRE US TO, UM, GO AGAINST A PRIVATE DEED RESTRICTION? AND, UM, MY, UH, DAY JOB IS THAT I'M A COMMERCIAL REAL ESTATE ATTORNEY, AND I THINK THAT PRIVATE DEED RESTRICTIONS ARE, UM, YOU KNOW, UH, THE DEVELOPER COMMUNITY AND EVEN ANY PROPERTY OWNER THAT'S NOT A DEVELOPER, UH, WHEN THEY TAKE A PIECE OF PROPERTY AND THEY DO SO BASED ON CERTAIN PRIVATE DEED RESTRICTIONS THAT THEY'RE RELYING UPON, UM, TO GO IN AND SAY, OH, WE'RE JUST GONNA DISREGARD THOSE PRIVATE DEED RESTRICTIONS, UM, IS A VERY SIGNIFICANT ACT.
AND SO THE WAY I FEEL IS THAT, UM, I WOULD RATHER HAVE THE CITY OF DALLAS, THE CITY COUNCIL OF DALLAS, THAT, UH, WHERE WE HAVE THE ELECTED REPRESENTATIVES OF THE POPULACE, UH, FIRST MAKE A DECISION ON THAT POLICY ITEM BEFORE WE DO.
IN OTHER WORDS, I'M FEELING LIKE WE'RE KIND OF PUTTING THE CART BEFORE THE HORSE WHEN WE'RE HAVING AS THE DALLAS HOUSING FINANCE CORPORATION, WE'RE MAKING THAT POLICY DECISION.
SO THAT HAS, YOU KNOW, NOTHING TO DO WITH THIS PARTICULAR PIECE OF PROPERTY.
UM, BUT TO ME, I THINK WE HAVE TO KEEP IN MIND THAT WE ARE MAKING A DECISION HERE ON A VERY SIGNIFICANT PUBLIC POLICY.
SO I JUST WANNA SAY THAT BEFORE, UM, I OPEN THE FLOOR FOR QUESTIONS.
SO NOW I'LL HEAR FROM ANYBODY THAT WANTS TO SPEAK ON THIS.
I DON'T THINK IT SMELLS GOOD FOR US.
I DON'T THINK IT'S WHERE WE SHOULD BE WITH ALL THE NEEDS IN OUR CITY RIGHT NOW AS, ESPECIALLY IN HOUSING.
UH, I DON'T THINK THE LOCATION IS THE GREATEST.
UM, WHEN WE TALK ABOUT OTHER HOUSING, MULTI-FAMILY THINGS THAT WE'VE TALKED ABOUT, WE LOOKED AT GROCERY STORES, SCHOOLS, THOSE KINDS OF THINGS, UH, AND IT'S NOT THERE.
[00:50:01]
LOOKING AT WHAT WE LOOKED AT IN THE PAST.SO TELL ME WHERE THE CHILDREN ARE GONNA GO TO SCHOOL.
TELL ME WHERE THE PEOPLE ARE GONNA BUY THEIR GROCERIES.
THEY'RE, THEY'RE NOT GONNA GO TO COSTCOS ACROSS THE STREET.
I MEAN, THAT'S NOT WHERE THEY BUY, UH, YOU KNOW, WHEN YOU LOOK AT AFFORDABLE HOUSING.
SO, UH, SHOPPING HOME DEPOT, IF IT COMES BACK OR WHATEVER IT'S DOING RIGHT NOW, UM, OKAY, SO I LOOK AT WHERE ARE THESE PEOPLE? THERE'S NO DOLLAR STORES, OKAY? IF THEY ARE, THEY'RE THE REAL LOW, LOW END, UH, KIND OF DOLLAR STORES.
SO I'M LOOKING AT, FOR US TO TAKE THIS TYPE OF RISK AND COMPARE IT TO OTHER THINGS THAT WE'VE DONE, THIS IS NOT WHERE WE NEED TO BE.
TO CLARIFY, THERE IS, I'M JUST FOR THE RECORD, THERE'S A KROGER JUST OVER A MILE DOWN THE ROAD THAT, BUT STILL, I MEAN, YOU KNOW, IT'S, IT'S THERE, BUT THIS ISN'T THE GREATEST POVERTY.
POVERTY RATES ALSO 13 AND A HALF.
THIS ISN'T THE GREATEST AREA FOR THIS, FOR US, FROM, IN MY OPINION, FOR US TO INVEST IN.
LOOK, I AM IN FULLY SUPPORT OF THIS PROJECT.
I MEAN, DISTRICT 10 HAS A VERY LIMITED OPPORTUNITY TO GET AN AFFORDABLE HOUSING DEAL IN THERE.
IT'S JUST DA DANG NEAR IMPOSSIBLE.
I'VE ALMOST SEEN THIS AS OUR LAST OPPORTUNITY TO GET ANY AFFORDABLE HOUSING OF ANY KIND IN THIS DISTRICT.
I MEAN, IT IS IMPOSSIBLE FOR THE AFFORDABLE GROUPS TO GET A DEAL UNDER CONTRACT.
I MEAN, AND I'M, WE'RE JUST SEEING COST OF EVERYTHING GO AROUND.
AND WHEN I SEE THE SITE, I MEAN, I SEE RETAIL, I SEE MEDICAL, UH, FACILITIES, I SEE PEOPLE THAT NEED WORKERS AND NEED WORKERS THAT MAKE LOWER INCOMES.
AND I JUST, AND WE'RE TALKING ABOUT A HUNDRED UNITS.
I MEAN, JUST GETTING A HUNDRED RESTRICTED UNITS UP.
I MEAN, CUZ I THINK THE, THE WHOLE THING'S NOT, UH, INCOME RESTRICTED.
SO ANYWAYS, SO THIS DOES SUPPORT THE NEEDS FOR AFFORDABLE HOUSING, IN MY OPINION.
LOOK, PEOPLE HAVE CARS, THEY DRIVE.
I DON'T NEED A DEAL TO BE WALKABLE COMPLETELY.
I DON'T NEED TO BE WALKABLE AT ALL, TO BE COMPLETELY HONEST WITH YOU.
I JUST WANT AFFORDABILITY TO, YOU KNOW, I JUST WANT AFFORDABILITY TO SERVE THE LOCAL EMPLOYMENT BLA BASE.
AND THAT'S WHAT OUR HOUSING CRISIS IS.
YOU KNOW, THAT'S, ANYWAYS, WE'RE IN A HOUSING CRISIS.
THAT BEING SAID, UH, THIS
I GUESS I DO HAVE ONE QUESTION.
I MEAN, FOR THE DEVELOPER, I MEAN, THIS HAS BEEN GOING ON, YOU KNOW, I'VE KNOWN ABOUT THIS PROJECT FOR A LITTLE WHILE.
I MEAN, THE TAX CREDITS, I MEAN, WHEN DOES THAT EXPIRE? WHAT KIND OF TIMETABLE ARE WE UNDER? I MEAN, IF THIS GETS TABLED, WHICH I MAY AND MAY BE VOTED DOWN COMPLETELY, BUT IF IT WERE TO GET TABLED, I MEAN, W HOW CAN THIS BE RESOLVED? UH, ZACHARY CROUCH, UM, YOU GOTTA PUSH THE BUTTON.
UM, WE DO HAVE A LITTLE BIT OF TIME LEFT TO KEEP WORKING THROUGH THIS.
UM, OBVIOUSLY THIS IS A VERY COMPLICATED ISSUE.
I, FOR ONE, SEE BOTH SIDES OF RESPECTING PRIVATE DEED RESTRICTIONS AS WELL AS KNOWING THE HISTORY OF PRIVATE DEED RESTRICTIONS, WHICH ALSO HAMPER AFFORDABLE HOUSING DEVELOPMENT HAVE BEEN USED IN DISCRIMINATORY WAYS, ET CETERA.
IF YOU KNOW, I, AND I REALLY THINK YOU CAN'T SAY, OKAY, WE DID THIS ONE, SO NOW WE'RE GONNA TRAMPLE OVER EVERY PRIVATE DEED RESTRICTION.
UM, AND TO GIVE YOU KIND OF BACKGROUND ON THIS DEED RESTRICTION, THIS DEED RESTRICTION STARTED AS A RESTRICTION ON ONLY USES ALLOWED WERE HOTEL, UH, RESTAURANT AND OFFICE.
AND THAT WAS TO COVER ALMOST A 30 ACRE PARCEL.
UM, WITHIN 10 YEARS, MOST OF THE ACREAGE HAD ACTUALLY BEEN REMOVED FROM THE DEED RESTRICTION.
AND MOST OF THE LAND AROUND THIS PARCEL DOESN'T EVEN COMPLY WITH THE DEED RESTRICTION BECAUSE THERE'S AUTO MECHANICS, A CAR WASH, THERE'S RETAIL HOME DEPOT ACADEMY SPORTS, THERE'S SELF-STORAGE.
NONE OF THESE PIECES OF LAND THAT ARE AROUND THIS PARCEL ARE ACTUALLY COMPLYING WITH THE DEED RESTRICTION EXCEPT FOR FOUR PIECES OF LAND THAT ARE ALL OFFICE BUILDINGS.
UM, THIS IS AN OLD DEED RESTRICTION THAT MAGICALLY CAME UP AND THE NEIGHBORING LANDOWNER DECIDED THAT IT WAS TIME TO ENFORCE IT WHEN AFFORDABLE HOUSING WAS GONNA COME AROUND.
THEY'VE, WE'VE BEEN IN TALKS WITH THEM FOR MONTHS TO TRY AND NEGOTIATE WITH THEM.
WE'VE OFFERED THEM MONETARY, YOU KNOW, INCENTIVES TO NEGOTIATE WITH THEM.
HOWEVER, THEY DIDN'T WANNA WORK WITH US EVEN THOUGH FOR MONTHS THEY SAID THAT THEY THOUGHT THAT THEY COULD GET THERE.
WE NOW LOOK AT THAT AND WE SAY THAT THAT WAS JUST A LONG-WINDED, YOU KNOW, KIND OF STALL TACTIC.
UM, THAT'S AT LEAST MY PERSONAL BELIEF IS THAT THAT WAS A LONG-WINDED STALL TACTIC TO TRY AND GET THIS DEAL TO GO AWAY BASED ON JUST TIME.
[00:55:01]
BUT EVEN THE NEIGHBORING LANDOWNER THAT NOW DECIDES THEY WANT TO ENFORCE THIS DEED RESTRICTION WHEN THE TORNADO CAME THROUGH, WHICH THIS TORNADO IS THE ONLY REASON WE EVEN HAVE THIS OPPORTUNITY BECAUSE THAT WAS AN OFFICE BUILDING THAT WAS LEASED AND UP AND RUNNING.SO THIS IS A REALLY UNIQUE OPPORTUNITY.
AND WHEN THIS TORNADO CAME THROUGH, THE NEIGHBORING LANDOWNER THOUGHT TO SELL TO A MULTI-FAMILY DEVELOPER AS WELL.
TOLD ME THAT, YOU KNOW, IN ONE OF OUR MEETINGS, THAT HE HAD THOUGHT ABOUT SELLING FOR MULTI-FAMILY AS WELL.
SO THESE ARE NOT SACRED DEED RESTRICTIONS.
UM, THIS ISN'T ME SAYING LET'S GO INTO A SINGLE FAMILY NEIGHBORHOOD THAT HAS DEED RESTRICTIONS FOR SINGLE FAMILY.
ONLY BUY 10 PARCELS, GET OUT OF THE DEED RESTRICTION AND BUILD AN APARTMENT BUILDING IN THE MIDDLE OF IT.
IT'S NOT A, A WELL ESTABLISHED BUSINESS PARK OF 30 ACRES OF OFFICE BUILDINGS THAT WE'RE SAYING LET'S PLOP HOUSING IN THE MIDDLE OF IT.
THIS IS FIVE OFFICE BUILDINGS THAT ARE UNDER A 1979 DEED RESTRICTION SURROUNDED BY A BUNCH OF OTHER VARIOUS USES THAT ARE NO LONGER UNDER THAT DEED RESTRICTION.
SO YOU'RE NOT BREAKING SOME SORT OF AREA PLAN THAT IS SACRED TO THESE PEOPLE AND SACRED TO WHAT CAN BE DONE.
AND IT'S GONNA HURT THESE PEOPLE'S VALUE.
THIS, IN MY OPINION, HAS A, A CORNER THAT HAS EVOLVED FROM SOME OFFICES AND SOME RETAIL.
NOW THEY HAVE RESTAURANTS, THEY HAVE SOME OTHER SERVICES, AND NOW IT'S CONNECTED TO ALL THE TRAILS.
SO THERE'S A WALKING PATH TO THE DART STATION.
SO THIS HAS BECOME A CORNER THAT'S TRANSIT ORIENTED THAT IN MY OPINION, IS PROBABLY GONNA KEEP ON EVOLVING.
AND SOME NEWER USES ARE GONNA KEEP COMING THERE.
AND IT'S AN AREA WITH HIGH OPPORTUNITY JOBS.
THE MEDICAL CITY, WE WOULD BE THE FURTHEST NORTH AFFORDABLE HOUSING, NEW CONSTRUCTION IN PROBABLY 15 YEARS.
AND THAT'S BECAUSE THERE'S NO LAND.
IF THERE WAS LAND TO DO THIS ELSEWHERE, I WOULD GO ELSEWHERE.
THE THIS PIECE OF LAND IS JUST THE LAST ONE AND IT'S ZONED FOR MULTIFAMILY.
SO YES, THIS DEED RESTRICTION IT, IT'S VERY CONVENIENT TO ONCE AGAIN ENFORCE IT AFTER IT HASN'T BEEN ENFORCED IN DECADES JUST TO STOP AFFORDABLE HOUSING.
AND I THINK THAT, YOU KNOW, YOU HAVE TO LOOK AT THESE ON A HOLISTIC VIEW AND SAY, YES, NOT ALL DEED RESTRICTIONS ARE THE SAME.
I UNDERSTAND IF I CAME UP HERE AND SAID, LET'S KILL A 2005 DEED RESTRICTION ON A MASTER PLAN COMMUNITY THAT HAD OTHER ELEMENTS BECAUSE I JUST WANTED TO RAM MY PROJECT IN DOWN THEIR THROATS, I UNDERSTAND THAT.
IT'S BECOMING A MIXED USE CORNER.
AND I THINK THAT THIS IS ONE OF THE LAST OPPORTUNITIES TO GET AFFORDABLE HOUSING IN THIS AREA.
UM, I'M HERE FOR MORE QUESTIONS.
WHAT DOES THE COMMUNITY HAVE TO SAY ABOUT THIS PROJECT? UM, THE COMMUNITY HATED IT.
AND THAT IS VERY STANDARD FOR COMMUNITIES IN NORTH DALLAS.
BUT I WILL SAY THAT, UM, THE COMMUNITY HATED IT.
AND IT'S A QUARTER OF A MILE AWAY AS THE BIRD FLIES FROM THE NEAREST SINGLE FAMILY HOME.
IT'S ALSO 1.4 MILES AWAY IF YOU ACTUALLY HAD TO DRIVE TO THAT NEAREST SINGLE FAMILY HOME.
AND THOSE SINGLE FAMILY HOMES ARE MILLION DOLLAR HOMES THAT ARE SEPARATED BY A HOME DEPOT, A TRAIN TRACK, A OR THE DART RAIL, I SHOULDN'T SAY A TRAIN TRACK, THE HOME DEPOT, A CREEK.
SO YES, THE NEIGHBORHOOD HATED IT.
JUST LIKE EVERY NEIGHBORHOOD IN NORTH DALLAS HATES AFFORDABLE HOUSING FOR FAMILIES.
I DON'T EVEN THINK THAT A NEIGHBORHOOD REALLY SHOULD HAVE ANY SAY WHEN IT COMES TO ZONED PROPERTY FOR AFFORDABLE HOUSING.
UNFORTUNATELY THEY DID, THEY CAME OUT IN DROVES TO TELL ME HOW MUCH THEY HATED IT AND HOW IT WASN'T APPROPRIATE.
AND TO THAT, I SAY IF YOU'RE NOT GONNA BUILD AFFORDABLE HOUSING ON ZONE PROPERTY IN NORTH DALLAS, THEN I DON'T KNOW WHERE YOU'RE GONNA PUT THESE PEOPLE.
I, I WOULD GENUINELY BELIEVE THAT EVERYBODY WOULD WANT TO PUT THEM BETWEEN TWO CONCRETE BATCHING FACILITIES AND HOPE THAT THEY NEVER SEE THEM AGAIN, BECAUSE THERE'S NOT ENOUGH LAND IN NORTH DALLAS THAT'S ZONED FOR MULTIFAMILY HOUSING TO TAKE INTO ACCOUNT FIVE HOMEOWNERS OR 10 HOMEOWNERS OR 20 HOMEOWNERS THAT ARE WORRIED ABOUT CRIME, THAT ARE WORRIED ABOUT THEIR PROPERTY VALUES GOING DOWN AND THAT ARE WORRIED ABOUT THESE TYPES OF THINGS.
BECAUSE IF WE TAKE THAT INTO ACCOUNT EVERY TIME WE'RE LOOKING AT AFFORDABLE HOUSING IN NORTH DALLAS, ESPECIALLY FOR FAMILIES, BECAUSE THERE'S A LOT OF PEOPLE THAT JUST WON'T EVEN TRY AND DO FAMILY HOUSING IN NORTH DALLAS.
THEY ONLY DO SENIOR HOUSING BECAUSE THEY, THEY HOPE THAT THEY CAN GET AWAY WITH IT AND BECAUSE IT'S A LOT EASIER TO SELL TO THE HOMEOWNERS.
SO YES, WE DID GET TONS OF BACKLASH TELLING US THAT THIS IS THE WORST PLACE WE COULD POSSIBLY PUT AFFORDABLE HOUSING.
AND I WHOLEHEARTEDLY DISAGREE AS A PERSON WHO LIVES IN DALLAS AND WHO'S VERY FAMILIAR WITH THAT AREA AS WELL AS FAMILIAR WITH MY AREA.
AND I WILL, I LIVE IN DISTRICT 12 AND THERE WAS TONS OF BACKLASH FOR AFFORDABLE HOUSING, LESS THAN THREE QUARTERS OF A MILE FROM MY HOUSE.
AND GUESS WHAT? NOTHING HAS HAPPENED.
THE PROPERTY VALUES HAVE CONTINUED TO RISE JUST LIKE EVERYBODY ELSE'S.
SO YEP, I AGREE THE COMMUNITY HATED IT, BUT I DON'T THINK THAT THAT SHOULD REALLY BE A CONSIDERATION
[01:00:02]
IN THESE CIRCUMSTANCES.DID YOU TALK TO THE THE NEIGHBORHOOD HAMILTON PARK? YES.
DID YOU TALK TO THE CHURCHES IN HAMILTON PARK? WE DID.
AND WE HAD, UH, TWO PASTORS THAT SAID THEY WERE GONNA GIVE US A LETTER OF SUPPORT AND THEN THE REST OF THE COMMUNITY DECIDED THAT THEY DID NOT BELIEVE THAT WE SHOULD HAVE THAT.
WE'RE ALSO OVER A MILE AWAY FROM HAMILTON PARK, I BELIEVE, OR THREE QUARTERS OF A MILE.
BUT IT'S THE CLOSEST RESIDENTIAL AREA THAT'S AFFORDABLE IN THAT AREA.
I'VE WORKED THE HAMILTON PARK AREA HISTORIC AREA AS A MATTER OF FACT.
SO, UM, I CAN SEE WHY THEY WOULD BE OPPOSED BECAUSE HAMILTON PARK IS MAKING A COMEBACK AND YES, I UNDERSTAND WHY PEOPLE WITH PERCEPTION WOULD BE OPPOSED, BUT I DON'T THINK APARTMENTS THAT ARE ACROSS A MAJOR ROAD ACROSS PA THE OTHER SIDE OF A DART STATION, THE OTHER SIDE OF A RAILROAD TRACK, I JUST DON'T THINK THAT THAT PLAYS INTO THE CALCULUS OF A NEIGHBORHOOD AND THOSE HOMEOWNERS.
YOU CAN TAKE THAT FOR WHAT YOU WANT, BUT I, THIS IS AN URBAN ENVIRONMENT.
THIS IS A, A MILE OR THREE QUARTERS OF A MILE.
I DON'T REMEMBER THE EXACT MEASUREMENT.
UM, BUT THAT DISTANCE, IT'S A WHOLE DIFFERENT WORLD, ESPECIALLY WHEN YOU'RE TALKING ABOUT CROSSING, UH, DART RAIL, CROSSING A MAJOR STREET.
YOU'RE NOT, YOU KNOW, PART OF THE SAME FABRIC I WOULD SAY, EVEN THOUGH YOU ARE AT THE SAME TIME.
UM, BUT THE CLOSEST NEIGHBORHOOD IS ACTUALLY STOLZ ROAD, WHICH IS DIRECTLY ACROSS AND BEHIND THE HOME DEPOT THAT DOES HAVE A MIXTURE OF MILLION DOLLAR HOMES AND AFFORDABLE HOMES.
SO THAT AREA IS BEING VERY RAPIDLY REDEVELOPED AS WELL.
BUT WE DID HAVE OUTREACH IN HAMILTON PARK.
WE HAD SOME MIXED, UM, RESULTS.
I THINK THAT A LOT OF OTHER THINGS PLAYED INTO THAT FACT.
AND THEN, UM, WE HAD A VERY STRONG TURN OF COMMUNITY MEMBERS AGAINST US.
AND FOR THAT I WISH THAT THE CIRCUMSTANCES WERE DIFFERENT.
I WISH THAT WE COULD GARNER MORE COMMUNITY SUPPORT FOR AFFORDABLE HOUSING ALL OVER DALLAS.
UM, IN MY PERSONAL OPINION, THIS IS A 50% MARKET RATE, OR 45% MARKET RATE, 55% AFFORDABLE, UM, HOUSING DEVELOPMENT WITH STRUCTURED PARKING.
I THINK THIS IS THE GOLD STANDARD OF AFFORDABLE HOUSING.
YOU'RE TALKING ABOUT AN INFILL SITE THAT THERE'S JUST NO OTHER OPPORTUNITIES AROUND.
AND YOU'RE TALKING ABOUT A 50 MILLION INVESTMENT THAT'S ALMOST $265,000 A DOOR IN OUR, IN THIS PROJECT.
THIS ISN'T, UM, YOU KNOW, CHEAP CONSTRUCTION.
THIS ISN'T A CHEAP PIECE OF LAND AND THERE'S A LOT OF GOOD REASONS FOR THAT.
AND ALL UP AND DOWN 75, THERE'S CLASS A APARTMENTS BEING BUILT EVERY DAY PART OF MIXED INCOME COMMUNITIES AND PART OR PART OF MIXED USE COMMUNITIES.
AND TO NOT BE ABLE TO DO AN AFFORDABLE LITECH DEAL HERE, I JUST DON'T SEE ANOTHER OPPORTUNITY TO DO IT IN THE FUTURE.
SORRY TO GO BACK TO MY POINT CUZ IT GOT CUT OFF, UH, ABOUT THE ENGAGEMENT PIECE.
UM, I I'M NOT OPPOSED TO THESE, UH, AFFORDABLE HOUSING UNITS BEING PLACED IN THIS AREA.
I'M NOT, WHAT I THINK MOST OF US ARE OPPOSED TO IS THE DEED RESTRICTION AND FEELING AS THOUGH THAT'S NOT OUR BATTLE AS THE DALLAS HOUSING FINANCES CORPORATION.
I FEEL LIKE IF DEED RESTRICTION WAS REMOVED, IF I, I DON'T KNOW WHY CONVERSATIONS WEREN'T HAD BEFORE IT WENT TO CO I I HONESTLY DON'T KNOW THE, UH, THE DETAILS WITH THAT.
IT IS, IT IS THE DEED RESTRICTION FOR A COUPLE OF US.
IT IT IS NOT NECESSARILY THE PROJECT ITSELF.
IS IT FOR, IT'S FOR FIVE PARCELS TOTAL? IS THAT WHAT YOU'RE ASKING? NO, I WAS STATING CAUSE IT SOUNDS LIKE YOU WERE MAKING AN ARGUMENT FOR THE HOUSING PROJECT ITSELF.
UM, AND I I WAS STATING FOR MOST OF US, UH, IT'S IT'S LIKE PREACHING TO THE CHOIR, RIGHT? UM, BUT FOR MOST OF US IT'S, IT'S THE DEED RESTRICTION.
I, WE, SOME OF US FEEL LIKE THAT'S, THAT'S NOT OUR BATTLE, IF THAT MAKES SENSE.
UM, THAT'S SOMETHING BETWEEN THE DEVELOPER AND THE OWNERS OF THIS PROPERTY.
AND UNTIL THAT'S RECONCILED, I THINK THAT'S WHEN YOU'LL KIND OF HEAR A DIFFERENT STORY, AT LEAST ON MY END.
LORNE'S POINT, YOU KNOW, MY PARENTS LIVE IN DISTRICT 12.
I SPENT A LARGE PART OF MY CHILDHOOD THERE.
I UNDERSTAND THE DESPERATE NEED FOR AFFORDABLE HOUSING THERE.
I WOULD LOVE TO GREENLIGHT THIS AND ENDORSE THIS PROJECT, BUT THE, THE PROBLEM FOR ME IS REALLY THE DEED, THE DEED RESTRICTIONS AS WELL, UM, FOR US TO BE INVOLVED IN THE CHANGE OR UPLIFTING OF THOSE IS A, SETS A VERY DANGEROUS PRECEDENT FOR THIS BOARD AND FOR THE CITY TO BE INVOLVED IN LITIGATION.
BUT I, I ADMIRE YOU FOR PUTTING THIS FORTH.
I THINK YOU'RE DOING EVERYTHING YOU CAN TO SALVAGE THE PROJECT.
[01:05:01]
AND WE NEED, WE NEED AFFORDABLE HOUSING IN NORTH DALLAS.UM, I'D LIKE TO SPEAK FOR A MAN, I, I, I APPRECIATE YOUR HEY DIRECTOR PAGES.
YES, DAVE, I, I, THERE'S BEEN TWO HANDS UP ONLINE.
UH, DIRECTOR FARROW OR VICE PRESIDENT NICHI.
I DON'T KNOW WHO WAS FIRST UP, BUT I JUST SAW THAT, THAT YOUR HANDS WERE UP AND I WANTED TO MAKE SURE THAT WE DON'T FORGET.
DO YOU WANNA GO QUICKLY THEN? UM, SO, SO IF I AGREE WITH EVERYTHING THAT YOU SAID HERE, AND I AGREE THAT DEED RESTRICTIONS, UM, ARE EITHER BAD OR, OR BEST MORALLY NEW CONTROL.
AND SO WE SHOULDN'T BE HELD BACK, UM, BY POLICY INTEREST FROM GOING AFTER THE DEED RESTRICTIONS.
AND IF I AGREE WITH YOU, THIS NEIGHBORHOOD NEEDS AFFORDABLE HOUSING AND THIS IS A GREAT SPOT FOR IT.
SO I'M ALIGNED WITH YOU ON ALL THESE POINTS, BUT MY HANGUP HERE IS THAT I DON'T WANT TO BITE OFF THE POTENTIAL FOR A PROTRACTED LEGAL FIGHT WITH THE OWNERS OF THE, THE INTEREST IN THOSE DEED RESTRICTIONS.
WHAT, WHAT IS THE COMFORT YOU CAN GIVE ME THAT THAT'S NOT GONNA HAPPEN IF WE MOVE FORWARD WITH THIS PROJECT? LOOK, UH, WE'RE OBVIOUSLY MOVING FORWARD, UM, WITH ALL OF OUR FINANCIAL PARTNERS LOOKING AT THE SAME RISK ANALYSIS AS WELL.
IF WE GET A GREEN LIGHT HERE TODAY, IT'S STILL NOT GUARANTEED THAT WE'RE EVEN GONNA MOVE FORWARD.
I'LL, I'LL BE HONEST WITH THAT.
WE STILL HAVE A LOT MORE ANALYSIS TO DO.
BUT I CAN TELL YOU, UM, THE CITY OF AUSTIN'S HOUSING FINANCE CORPORATION IS DOING THE SAME THING RIGHT NOW, WHICH IS IGNORING A DEED RESTRICTION TO BUILD AFFORDABLE HOUSING AND THEY ARE IN A LAWSUIT.
UM, I THINK SOME OF THE FACTS ARE VERY DIFFERENT, UM, BECAUSE THERE'S A FLOOD ISSUE THERE, UM, THAT COULD CAUSE, UH, IRREPARABLE HARM, WHICH WE DO NOT HAVE AN ISSUE LIKE THAT WHERE WE'RE CAUSING IRREPARABLE HARM.
UM, IT COMES DOWN TO MONETARY DAMAGES.
SO, YOU KNOW, THERE'S, THERE'S A MONETARY PRICE TAG ON WHAT WE'RE DOING.
UM, WE BELIEVE THAT WE ARE IN THE RIGHT IN TERMS OF CASE LAW AT THIS TIME.
UM, BUT WE ARE GONNA KEEP ANALYZING THIS REGARDLESS AND WORKING WITH THE CITY ATTORNEY'S OFFICE AS WELL.
WE'VE ALREADY HAD A CALL WITH THE CITY ATTORNEY'S OFFICE AND, UM, WHILE I THINK THAT YES, YOU WOULD BE, UH, ALLOWING THIS TO MOVE FORWARD, IT'S CERTAINLY NOT A GUARANTEE IT'S GONNA MOVE FORWARD.
AND IT'S ALSO GONNA GO TO CITY COUNCIL AS WELL.
SO CITY COUNCIL'S GONNA HEAR ALL OF THESE ISSUES, UM, AND THEY HAVE, YOU KNOW, THE ABILITY TO MAKE THESE DECISIONS AS WELL AND THEY'RE GONNA KNOW, UM, ALL ABOUT THESE DEED RESTRICTIONS.
BUT, YOU KNOW, THIS ISN'T THE END ALL BE ALL IN TERMS OF THAT.
BUT, UM, YOUR YES, WOULD JUST ALLOW THIS PROCESS TO CONTINUE MOVING FORWARD AND TO ALLOW CITY COUNCIL TO WEIGH IN ON WHETHER THEY WANNA GO DOWN THIS PATH OF, UM, POSSIBLY TAKING DEED RESTRICTIONS.
AND BY THE WAY, IGNORING DEED RESTRICTIONS FOR AFFORDABLE HOUSING IS NOT SOMETHING UNPRECEDENTED.
IT'S HAPPENED MANY TIMES IN DALLAS.
SO THIS ISN'T SOMETHING THAT, UM, IS, IS SO OUT OF LEFT FIELD THAT IT SHOULDN'T BE CONSIDERED.
UM, AND ONCE AGAIN, GOING BACK TO THE HISTORY OF DEED RESTRICTIONS, THEY'RE VERY COLORED THAT HISTORY AND THEY SHOULD, IT SHOULD BE TAKEN WITH A GRAIN OF SALT AND LOOKED AT VERY CLOSELY.
SO JUST TO MAKE SURE I UNDERSTAND YOUR ANSWER, I THINK I HEARD TWO PARTS.
NUMBER ONE, I DIDN'T BE WORRIED ABOUT BITING OFF LITIGATION BECAUSE THERE'S A CHANCE THE DEAL DOESN'T GO FORWARD.
AND THEN EVEN IF IT DOES, THERE'S A CHANCE I DON'T GET SUED.
SECONDARILY, UH, IF I DO GET SUED, THE WORST OUTCOME IS SOME SORT OF MONEY DAMAGES, WHICH PRESUMABLY, UM, SOME ENTITY YOU'RE AFFILIATED WITH WOULD AT LEAST CONTRACTUALLY AGREE TO BE ON THE HOOK FOR.
AND WE'D THEN HAVE TO DECIDE WHETHER THAT'S ACTUALLY MONEY WE COULD GO GET THROUGH A PERSONAL GUARANTEE FROM YOU OR YOUR PARTNERS OR SOMEBODY ELSE.
IS THAT MORE OR LESS THE, THE RESPONSE TO LITIGATION CONCERN? YES, AND THAT'S, UM, IN YOUR M O U IT'S ACTUALLY AN, THERE'S AN INDEMNIFICATION CLAUSE AND WE CAN OBVIOUSLY, YOU KNOW, WORK TO STRENGTHEN THAT FURTHER TO MAKE SURE THAT IT SPECIFICALLY, UM, TALKS TO THIS, UH, EXPOSURE.
BUT IN LOOKING AT HOW DAMAGES ARE CALCULATED ON SOMETHING LIKE THIS, THEY'RE USUALLY CALCULATED BASED ON IT BEING A NUISANCE.
AND, UM, OUR USE IS NOT ACTUALLY A NUISANCE.
SO IT'D BE VERY DIFFICULT TO PROVE SUBSTANTIAL DAMAGES BASED ON, UM, JUST HAVING MULTI-FAMILY HOUSING NEXT TO YOU INSTEAD OF AN OFFICE BUILDING NEXT TO YOU.
UM, AND WE'VE LOOKED AT THE CASE LAW IN TERMS OF THAT AS WELL.
AND YOU KNOW, IF SOMEBODY WANTS TO MAKE AN ARGUMENT THAT THEIR OFFICE BUILDING IS SO IRREPARABLY DAMAGED BY AFFORDABLE HOUSING, I WOULD BE VERY EXCITED TO SEE THEM MAKE THAT ARGUMENT IN COURT.
UM, JUST AS A POINT OF CLARIFICATION, UH, COULDN'T THEY JUST GET A DECLARATORY
[01:10:01]
JUDGMENT THIS SAYING THAT YOU CAN'T PUT MULTIFAMILY THERE? UH, WE DO NOT BELIEVE THAT THEY CAN AT THIS POINT IN TIME.WHY? BASED ON, BASED ON OUR READING OF THE, UM, RESTRICTIONS THEY, THEY CAN TRY.
BUT WITH PARTNERSHIP WITH THE CITY, WE DO NOT BELIEVE THAT THAT IS A GONNA WORK.
OH, OH, DIRECTOR PHARAOH, YOU HAD A QUESTION? I DO.
SO FIRST I WANNA SAY THAT IN THEORY I DO SUPPORT THE PROJECT.
I DO THINK IT'S A GOOD LOCATION.
I DO THINK THAT THERE'S A LOT OF BENEFITS, HOWEVER, JUST BEING FAMILIAR WITH THE PROCESS OF TRYING TO GET DEED RESTRICTIONS CHANGED OR REVOKED.
CAN YOU TELL US IF YOU'VE GOTTEN ANY FEEDBACK FROM YOUR CITY PLANNING COMMISSIONER OR CITY COUNCIL PERSON ABOUT THE POSSIBILITY OF GETTING THE DEED RESTRICTION REVOKED? UH, SO THESE ARE PRIVATE DEED RESTRICTIONS.
SO CITY COUNCIL AND CPC HAVE NOTHING, UM, THAT THEY CAN DO TO, UH, REMOVE THEM.
SO SINCE I'VE NEVER DEALT WITH A PRIVATE DEED RESTRICTION, WHAT WOULD BE THE PROCESS TO GET THEM CHANGED? DO YOU HAVE TO GET AN AGREEMENT FROM THE PROPERTY OWNER? SO THAT IS ONE WAY TO GET THEM CHANGED IS TO GET THE NEIGHBORING PROPERTY OWNERS TO AGREE TO CHANGE THAT.
AND WE'VE GONE DOWN THAT PATH, UM, EXTENSIVELY AND HAVE UNFORTUNATELY BEEN UNSUCCESSFUL IN TRYING TO GET THOSE DEED RESTRICTIONS REMOVED VOLUNTARILY.
SO WHAT WE'RE REALLY RELYING ON IS, UM, UH, AN ATTORNEY GENERAL OPINION FROM, UH, THE TEXAS ATTORNEY GENERAL AS WELL AS, UH, MULTIPLE CASE LAW, UH, THAT'S AVAILABLE IN TEXAS.
THAT BASICALLY IS OF THE BELIEF THAT PRIVATE DEED RESTRICTIONS CANNOT BE ENFORCED AGAINST PUBLIC ENTITIES.
AND IT'S SPECIFICALLY PUBLIC ENTITIES THAT ARE DOING SOMETHING FOR A PUBLIC PURPOSE, WHICH, UM, AN HFC WE BELIEVE WOULD BE DOING, UM, A PUBLIC PURPOSE AND PROVIDING A PUBLIC FUNCTION BY USING AFFORDABLE HOUSING.
DO YOU HAVE ANY SUPPORT AT THE STATE LEVEL? UH, SUPPORT FROM, I MEAN WE, WE WERE AWARDED TAX CREDITS FROM T D H D A.
SO I'M TRYING TO THINK ABOUT HOW THIS PLAYS OUT, YOU KNOW, CUZ ONCE IT BECOMES A PUBLIC FIGHT, THEN IT GETS MENTIONED IN THE NEWS.
AND I'M TRYING TO KIND OF GAUGE HOW DO YOU POSITION YOURSELF IN THE PUBLIC EYE SO THAT THE GENERAL PUBLIC AGREES THAT THIS IS A GOOD IDEA? LIKE WHO DO YOU HAVE THE BEST FOR YOU TO? UM, WE HAD, UM, THE INCLUSIVE COMMUNITIES PROJECT WROTE, I THINK PROBABLY THEIR FIRST LETTER OF SUPPORT IN SUPPORT OF OUR PROJECT HERE BECAUSE IT'S SUCH AN IMPORTANT LOCATION.
UM, THIS IS ALSO, UH, A PROJECT THAT IS FULFILLING THE WALKER SETTLEMENT, UM, BECAUSE WE'RE WILLING TO ACCEPT WALKER VOUCHERS THROUGH THE DALLAS HOUSING AUTHORITY.
SO THAT'S ANOTHER REALLY IMPORTANT, UH, PART TO THIS KIND OF FORMULA.
UM, IT IT'S JUST PUBLIC POLICY AND IT'S IN YOUR COMPREHENSIVE HOUSING POLICY AND IN YOUR ZONING THAT, YOU KNOW, HOUSING SHOULD GO HERE AND, UM, WE BELIEVE AFFORDABLE HOUSING SHOULD GO HERE BECAUSE OF THE COMPREHENSIVE HOUSING POLICY OF DOING AFFORDABLE HOUSING IN HIGH OPPORTUNITY AREAS.
SO THERE'S A PUBLIC POLICY ARGUMENT.
THERE'S UM, THERE'S JUST MANY ARGUMENTS THAT WE CAN MAKE THAT THIS IS APPROPRIATE FOR HOUSING.
THIS HAS ALREADY BEEN IN THE PRESS MULTIPLE TIMES.
UM, I THINK TWO DALLAS MORNING NEWS EDITORIALS MENTIONED THAT THIS WAS THE TYPE OF HOUSING THAT, YOU KNOW, SHOULD BE GOING THERE.
UM, WE ALSO HAD A BIG PIECE IN W F A A, UM, THIS IS, IT'S A RARE THING THAT YOU'RE GONNA HAVE HOUSING FOR FAMILIES THAT'S NEW CONSTRUCTION THAT'S IN NORTH DALLAS.
IT JUST DOESN'T HAPPEN AND THERE'S JUST NOT ENOUGH SITES TO MAKE IT KEEP HAPPENING.
SO, UM, YOU KNOW, I I THINK THAT THERE'S GONNA BE A LOT OF PUBLIC SYMPATHY THAT A 1979 DEED RESTRICTION THAT REALLY WAS MORE ABOUT THE INITIAL DEVELOPMENT OF A 30 ACRE PARCEL THAT'S NOW ONLY BEING, UM, ENFORCED ON EIGHT ACRES IS GONNA BE, YOU KNOW, SOMETHING THAT'S PROBABLY NOT AS INTERESTING TO A LOT OF PEOPLE.
HAVE YOU SEEN ANY EVIDENCE OF THAT PUBLIC SYMPATHY THOUGH? NOPE.
UM, I MEAN, FROM HOUSING ADVOCATES, SURE.
BUT YOU KNOW, I THINK THAT THE AVERAGE RESIDENT IN DALLAS
[01:15:01]
DOES NOT THINK ABOUT AFFORDABLE HOUSING.THEY THINK ABOUT THEIR OWN LIVES AND THEY THINK ABOUT HOW THEY'RE GETTING ALONG AND THEY DON'T REALLY THINK ABOUT WHERE HOUSING IS BEING SITUATED.
UM, YOU KNOW, TO GIVE YOU A REALLY GREAT EXAMPLE, UH, I, I WAS TALKING TO AN ATTORNEY WHO'S AT A VERY GOOD LAW FIRM AND HE TOLD ME HE THOUGHT HEARD OF A GREAT IDEA FOR THE HOMELESS SOLUTION, WHICH WAS TO DUMP THEM ALL IN FAIR PARK ON CITY OWNED PROPERTY.
AND THIS IS SOMEONE WHO'S EDUCATED, WHO LIVES IN THE CITY, WHO LIVES IN NORTH DALLAS.
SO THAT'S THE ATTITUDE THAT A LOT OF PEOPLE HAVE THAT THESE PROBLEMS, THEY DON'T EVEN REALIZE WHAT THE PROBLEMS ARE.
THEY DON'T REALIZE THE SEGREGATION, THEY DON'T REALIZE THE HISTORY OF HOW PROBLEMS HAVE BEEN DEALT WITH IN DALLAS IN THE PAST.
SO, YOU KNOW, A LOT OF PEOPLE, IF I WENT AND TOLD THEM THIS IS WHERE I'M PUTTING AFFORDABLE HOUSING, I GUARANTEE A LOT OF PEOPLE IN NORTH DALLAS, YOU KNOW WHAT THEY'RE GONNA SAY.
THEY'RE GONNA SAY, WHY DON'T YOU PUT THAT IN SOUTH DALLAS? SO I THINK WE'RE FIGHTING A FIGHT AND THERE'S JUST NOT A LOT OF DEVELOPMENT OPPORTUNITIES IN NORTH DALLAS.
AND, YOU KNOW, UM, I FIGHT VERY HARD TO, TO HAVE THE OPPORTUNITY TO DEVELOP IN NORTH DALLAS.
AND IT, IT'S UNFORTUNATE THAT I CAN'T JUST LET THIS GO AND SAY, OKAY, WASH MY HANDS CLEAN OF IT AND WE'LL GO FIND THE NEXT ONE NEARBY AND HOPEFULLY IT'LL WORK OUT BETTER BECAUSE THERE IS NO NEXT ONE NEARBY.
IT'S JUST EVERY PIECE OF LAND THAT ZONED MULTIFAMILY IN NORTH DALLAS IS UNIQUE.
AND IT'S NOT GONNA BE JUST ME GOING FOR IT.
IT'S GONNA BE ME AND EVERY MARKET RATE DEVELOPER WHO WANTS TO BUILD A HIGH RISE PODIUM AND DO WHAT THEY WANT TO DO AND RENT FOR TOP DOLLAR.
SO IT COMES DOWN TO A POLICY JUDGMENT OF ARE THESE 1979 DEED RESTRICTIONS AND IS THE CONCERN OF 10 SINGLE FAMILY HOMEOWNERS OR A HUNDRED SINGLE FAMILY HOMEOWNERS? I REALLY, IT MEANS VERY LITTLE TO ME EITHER WAY.
THEY'RE JUST SITTING THERE BECAUSE LANDLORD DISCRIMINATION DOESN'T ALLOW THEM TO BE USED.
THEY PAY TOP DOLLAR RENTS AND NOBODY WILL TAKE THEM.
SO I AM THE ONLY DEVELOPER IN THE LAST TWO YEARS WHO'S PROPOSED TO USE WALKER VOUCHERS IN NORTH DALLAS.
SO I, IT'S, I I WISH I COULD SAY, LET'S JUST GO ON TO THE NEXT ONE.
THIS ONE'S NOT IMPORTANT, BUT THIS ONE IS IMPORTANT BECAUSE EVERYONE IS IMPORTANT IN NORTH DALLAS.
AND YOU KNOW, I DID HEAR A COMMENT ABOUT WHERE ARE THESE PEOPLE GONNA GO TO SCHOOL? THESE PEOPLE ARE GONNA GO TO SCHOOL IN RICHARDSON, I S D, ANOTHER PLACE THAT HAS NO AFFORDABLE HOUSING, THAT DOESN'T WANT AFFORDABLE HOUSING.
SO, YOU KNOW, THESE, THESE OPPORTUNITIES ARE EXTREMELY FLEETING AND I HAVE PUT MORE MONEY INTO THIS THAN I SHOULD AND MORE TIME INTO IT THAN I SHOULD.
AND YOU KNOW, PROBABLY IT'S BECAUSE I USED TO LIVE IN FAIR PARK AND THEN MOVED TO NORTH DALLAS THAT I SEE THE DISPARITY AND I SEE THE DIFFERENCE AND I SEE THE OPPORTUNITY THAT NEEDS TO HAPPEN.
AND IF IT'S NOT GONNA HAPPEN NOW, IT'S NOT GONNA HAPPEN BECAUSE THIS IS GONNA GET SOLD AND PROBABLY BECOME A BANK OR A RESTAURANT OR, YOU KNOW, SOMETHING IS TOLERABLE.
I'M, I'M GONNA, UM, YEAH, I COULD TALK ABOUT IT FOR 10 MINUTES.
SORRY,
SO, UM, SO, UH, DIRECTOR FARROW, DID THAT ANSWER YOUR QUESTION? IT DOES.
I FEEL LIKE I WOULD BE ABLE TO BETTER SUPPORT THE PROJECT IF YOU'RE ABLE TO GET MORE SUPPORT FROM SOME MORE ELECTED OFFICIALS.
I REALLY THINK YOU NEED A LITTLE BIT MORE OF THAT KIND OF SUPPORT BEHIND YOU TO REALLY MOVE THIS FORWARD.
SO YEAH, LET ME SPEAK TO THAT REAL QUICK BECAUSE WE'RE TALKING ABOUT A POLICY DECISION ON HOW WE AS A CITY WANT TO LOOK AT WHAT WE DO, ESPECIALLY OUR SPECIFIC CORPORATION HERE, WHICH IS CREATED TO DO AFFORDABLE HOUSING IN HIGH OPPORTUNITY AREAS PER OUR CHP, ALL OF THAT.
AND IF WE WANT TO, WE CAN, THIS WILL, NO MATTER WHAT THE DECISION IS TODAY, EITHER WE'RE TABLE IT AND SEE WHAT COUNCIL SAYS CUZ THEY DO HAVE THE OPPORTUNITY.
AND, AND EVEN IF WE WERE TO APPROVE THIS TODAY, THAT MEANS NOTHING BECAUSE I GOTTA BRING THIS TO THE HOUSING COMMITTEE.
I'LL HAVE TO LITERALLY TALK TO EVERY SINGLE ONE OF OUR COUNCIL, COUNCIL MEMBERS, UH, PERSONALLY AND BRIEF THEM ON WHAT WE'RE DOING.
AND THEY WILL HAVE AMPLE OPPORTUNITY TO HAVE A SIMILAR DISCUSSION JUST LIKE THIS TO SAY WHETHER OR NOT WE AS A CITY WANT TO ENTER INTO, UH, A POTENTIAL LEGAL BATTLE THAT WE WILL HAVE PROTRAC, PROTRACTED LEGAL BA BATTLE, OUR CITY ATTORNEYS ARE RIGHT BACK THERE, PROBABLY DREADING, UH, WHAT THEY MAY HAVE TO DO.
SO WE ALSO HAVE THAT, BUT THIS ISN'T, WE'RE NOT HERE THAT WE'RE NOT GONNA BE THE ONES SETTING THE POLICY.
THE REASON THAT IT'S IT'S ON OUR AGENDA WAS BECAUSE IT WAS CONVENIENT.
[01:20:01]
UP, WE COULD TALK ABOUT IT LIKE THIS.BUT THEN ALSO IF, DEPENDING ON WHAT HAPPENS HERE, BRING IT TO COUNCIL AND SEE WHAT THEY SAY.
LET THEM BE THE POLICY MAKERS CUZ WE'RE NOT, WE, WE CARRY OUT A SPECIFIC SLIVER OF THIS POLICY, BUT THIS IS A BIGGER LAND USE TYPE TYPE ACTION.
SO, UH, WHETHER OR NOT WE DETERMINE HERE TODAY WHAT WE WANNA DO, IT DOESN'T REALLY BIND US TO ANYTHING.
AND THEN WE CAN ALSO, UH, LIKE DIRECTOR FARROW JUST SAID, LET'S TRY TO GET, WE CAN ALSO CONTINUE WORKING DOWN THE ROAD AND GET, UM, YOU KNOW, ELECTED OFFICIAL BUY-IN AS WELL BECAUSE I THINK WE CAN ALL AGREE THAT THIS IS A, A GREAT SITE.
UH, UH, ZACH DID A A A GREAT JOB DESCRIBING, UH, WHY THIS IS ALMOST KIND OF A UNICORN, I GUESS AS, AS IT COMES TO AFFORDABLE HOUSING.
BUT THAT'S, I JUST WANTED TO MAKE SURE WE KNOW WHAT NEXT STEPS ARE GONNA HAPPEN.
HOUSING COMMITTEE, COUNCIL, AND THEN COMING BACK TO THIS BODY TO APPROVE ANYTHING.
SO, SO DO YOU HAVE, UM, AN OPINION ON WHETHER IT'S BETTER FOR US TO TABLE THIS OR TAKE A VOTE ON IT? UH, I DON'T KNOW HOW EVERYBODY'S GONNA VOTE, SO I, I DON'T NECESSARILY HAVE AN OPINION AND IT'S NOT REALLY STAFF'S POSITION TO SAY THAT.
UM, I WOULD JUST, LIKE, I DON'T, MY, MY, MY OPINION IS, UH, IS I DON'T WANNA SEE IT DONE.
I, MY FEELING IS WE SHOULD PROBABLY TABLE IT CUZ I THINK IT'S THE PROSPECTS OF THIS PASSING TODAY IS VERY DIRE.
AND I THINK GIVEN HOW MUCH, UH, TIME HAS GONE INTO IT, I DON'T THINK, YOU KNOW, I THINK WE GOTTA GIVE THE DEVELOPER ONE LAST CHANCE TO SEE IF THEY CAN PROVIDE ACCEPTABLE PROTECTION OF THE D HFC, WHICH I DON'T KNOW IS GONNA HAPPEN, BUT GIVE THEM THE TIME TO DO IT.
I APPRECIATE ONE OF THE MEMBERS OF THE BOARD.
SO DOES, I WOULD ENTERTAIN A MOTION TO TABLE DIRECTOR ELLIS, IF THAT'S WHAT YOU SAID.
I'VE BEEN LIKE, WAIT, NO, SORRY, SORRY I'VE HAD MY HAND UP FOR A WHILE.
I'M SO SORRY THAT YOU COULDN'T SEE ME.
I DO WANNA SAY THAT I UNDERSTAND YOUR PRESENTATION IS FABULOUS.
SECONDLY, I UNDERSTAND THAT THE LAWYERS ARE GONNA ALWAYS WANNA BE RISK AVERSE.
AND NO OFFENSE, I HAVE MANY LAWYER FRIENDS AND CLIENTS, BUT I DO THINK THAT IF WE DO THINGS THAT ARE STRICTLY WITHOUT RISK, THEN YOU NEVER MOVE FORWARD.
AND FRANKLY, IF THE CITY IS GONNA BE INVOLVED IN ANY KIND OF HOUSING, WE HAVE LIABILITIES.
WE HAVE ALL KINDS OF LIABILITIES.
AND SO I DON'T WANT THIS TO BE A SITUATION WHERE JUST BECAUSE THERE'S A BIG BAD LAWYER NEXT DOOR WHO, I'M GLAD I KNOW HIS NAME, I'LL STEER CLEAR.
BUT NEVERTHELESS, I DON'T THINK OUR CITY NEEDS TO ALWAYS BUCKLE BECAUSE SOMEBODY IS A SCREAMING LAWSUIT.
AND I THINK WE, I'M, I'M, I'M IN, I AM IN COMMUNICATION WITH AN ELECTED OFFICIAL ON THIS WHO IS MY CITY COUNCILWOMAN WHO ACTUALLY SUPPORTS THIS.
SO ALL I'M GONNA SAY IS I'M GONNA VOTE IN FAVOR OF IT OR I'LL BE VOTING TO TABLE IT.
BUT I DON'T THINK THAT WE NEED TO LET THIS OPPORTUNITY PASS.
I THINK IT'S A FANTASTIC SUPPORT OF THE DART SYSTEM.
IT'S A FANTASTIC SUPPORT OF HEALTHCARE WORKER FORCE.
I HAVE FURTHER QUESTIONS ABOUT HOW MANY ONE BEDROOMS YOU HAVE VERSUS THREE BEDROOMS. I HAVE FURTHER QUESTIONS ABOUT WHY WE HAVE A MOVIE STUDIO
I MEAN THERE'S A FEW THINGS IN THERE CUZ I'M LIKE, I THINK THERE'S THE THEATER NOT TOO FAR FROM THERE, BUT NEVERTHELESS, UM, AND I DON'T KNOW WHETHER THAT'S THE POSITION WE SHOULD BE TAKING EXCEPT, I MEAN, OR QUESTIONS WE SHOULD BE ASKING.
I'M, I'M A NEW, UM, YOU KNOW, RELATIVELY NEW, UM, APPOINTEE TO THIS COMMITTEE.
THANK YOU FOR WHAT YOU'RE TRYING TO DO.
UM, I JUST HAVE SOME QUICK DEAL SPECIFIC QUESTIONS.
UM, IN TERMS, KYLE, YOU'D SAID THE UNIT MIX, UM, IS IT THE 30 50 AND IS IT 30 60 IN MARKET RATE OR DO YOU SAY WHERE THEY WERE ALL THE AFFORDABLES WERE 80% UNITS? IT'S 30, UH, 60, 70, 80, 30, 60, 70 80.
SO THIS IS, UM, TAKING ADVANTAGE OF WHAT'S CALLED INCOME AVERAGING.
SO UNDER THE NORMAL CIRCUMSTANCES, THE 9% DEAL WOULD BE 30%, 50%.
UM, AND THAT ACTUALLY, IF YOU AVERAGE ALL THOSE UNITS BASED ON PERCENTAGES, YOU GET TO 54% AREA MEDIAN INCOME IS THE AVERAGE.
UM, YOU CAN ACTUALLY DO SOMETHING CALLED INCOME AVERAGING, WHICH IS NEW FROM ABOUT THREE YEARS AGO, WHERE YOU CAN BASICALLY DO UNITS ALL THE WAY UP TO 80% AS LONG AS THAT AVERAGE COMES OUT TO THAT SAME 54%.
SO WE ARE DOING INCOME AVERAGING.
WE ACTUALLY ARE WAITING, UM, HEAVIER ON THE THIRTIES AND HEAVIER ON THE SEVENTIES TO GET THAT AVERAGE AND INCOME AVERAGE, UM, ALL THROUGHOUT.
AND WHAT WAS THE PROPOSED FEE SPLIT THAT YOU WERE TALKING ABOUT IF WE WERE TO PARTNER WITH Y'ALL? UM, I THINK IT WAS, UH, 25, 75 OR 2080.
[01:25:01]
UM, AND THAT'S BECAUSE THIS ISN'T A BOND DEAL.BOND DEALS ARE VERY DIFFERENT.
UM, THIS IS PROBABLY AS EXPENSIVE AS A BOND DEAL WITH HALF THE UNITS.
AND WE ALSO HAVE 30% UNITS VERSUS BOND DEALS, WHICH ARE ALL 60% UNITS.
SO NOT IF YOU'RE TRYING TO GO FOR PRIORITY ONE.
I KNOW IN THE CURRENT CLIMATE, I, I'D LOVE TO RE LOOK AT THOSE FEES AGAIN CAUSE I KNOW HOW LUCRATIVE THE 9% CREDITS ARE COMPARED TO THE FOURS.
UM, THE 9% CREDITS ARE LUCRATIVE IN DEVELOPER FEE AND NOT IN CASHFLOW.
UM, THE A 4% DEAL WOULD PROBABLY HAVE SOMETHING LIKE SIX OR $7 MILLION IN DEVELOPER FEE, WHEREAS A 9% DEAL WOULD BE AT THE FOUR OR $5 MILLION RANGE.
OUR CASHFLOW FIRST YEAR IS PROJECTED, I WANNA SAY AT 200,000.
UM, AND THAT'S PROBABLY GENEROUS.
UM, AND WE'RE ON HIGHER COST LAND WITH STRUCTURED PARKING.
SO THE DEBT LOAD THAT WE'RE TAKING VERSUS VERSUS YOU WOULD GET THE ABATEMENT CORRECT IF WE PARTNERED WITH Y'ALL? YES.
AND THAT'S WITH THE ABATEMENT.
AND THEN WHAT'S THE, THE DEFERRED FEE? UM, I THINK IT'S 1.8 MILLION, TWO TO 2 MILLION, SOMETHING LIKE THAT.
UM, I THINK THE CASH FEE IS ABOUT 3.6.
UM, I'M, I'M IN FAVOR OF TABLING THIS RIGHT NOW.
UM, IN TERMS OF THE, THE RUNWAY, CAN Y'ALL REALISTICALLY GET THIS DONE IF THE LITIGATION DRAGS OUT IN THE TWO YEAR TIMEFRAME? UM, WE HAVE A LOT OF LEGAL OPINIONS SAYING THAT WE WOULD NOT BE, THEY WOULD NOT BE GRANTED AN INJUNCTION, THAT IT'D BE VERY UNLIKELY FOR THEM TO GET AN INJUNCTION.
UM, AND THAT'S WHAT THE CASE LAW IS KIND OF TELLING US THAT WITH THIS PARTNERSHIP WITH A GOVERNMENTAL ENTITY, UM, AN INJUNCTION IS VERY UNLIKELY AND THAT IS WHY WE ARE CONFIDENT THAT WE WOULD MOVE FORWARD AND PAY THE MONETARY DAMAGES WHEN THEY CAME.
I, I'D BE IN FAVOR OF TABLING THIS NOW, BUT I WOULD NOT WANT TO COME TO AGREEMENT UNTIL WE REASSESS THOSE FEES.
OH, SO NOW YOU'RE, I GUESS THIS IS A NEW TWIST FOR ME THAT YOU'RE TALKING ABOUT THAT YOUR PLAN IS THAT UNLESS IF THERE'S LITIGATION FILED AND THERE'S NO INJUNCTION THAT YOU'RE GONNA GO FORWARD WITH BUILDING THIS PROJECT WITHOUT THE LITIGATION BEING, UH, FINALIZED YEAH.
AND BE ABLE THE CONSEQUENCES LATER.
NOW YOU'RE TALKING ABOUT BIG DAMAGES TO US BECAUSE, NOT TO US, BUT TO THE INVESTORS BECAUSE THEY'RE GONNA HAVE INVESTED THEIR MONEY IN THE PROJECT AND IT WOULD HAVE TO BE TORN DOWN IF THE LITIGATION IS SUCCESSFUL, RIGHT.
UH, WE DO NOT BELIEVE THAT THAT WOULD BE A DAMAGE THAT WOULD BE GOING FOR, WELL, THEY WOULD BE GOING FOR IT, BUT WE DO NOT BELIEVE THAT THAT'S REALLY IN THE REALM BECAUSE WE ONCE AGAIN, DON'T BELIEVE THAT THIS IS A RESTRICTIVE COVENANT THAT WILL BE ABLE TO BE ENFORCED AGAINST A GOVERNMENTAL ENTITY.
IN THE CASE LAW THAT WE'VE LOOKED AT, UM, IT'S BEEN THE EXACT SAME STRUCTURE OF A GOVERNMENTAL ENTITY, UH, GROUND LEASING FOR PRIVATE STUDENT HOUSING.
UM, AND IN THAT SITUATION, THE COURT SPECIFICALLY SAID THEY HAVE THE RIGHT TO BUILD IT AND THEY HAVE THE RIGHT TO MONETARY DAMAGES.
UM, AND WE'VE SEEN THAT IN A COUPLE OF OTHER CASES AS WELL.
SO, SO YOU'RE WANTING US, IF, IF WE DIDN'T TABLE THIS, YOU'RE WANTING US TO AGREE TO THAT, THAT WE WOULD BE INVOLVED IN GOING FORWARD WITH BUILDING THIS PROJECT IN THE, EVEN THOUGH THERE WAS PENDING LITIGATION, THAT IT SHOULD NOT BE BUILT BECAUSE OF THE PRIVATE DEED RESTRICTION.
THAT'S WHAT YOU'RE ASKING US TO APPROVE? YES.
UM, I I HAVE A QUESTION, I GUESS A COUPLE COMMENTS.
FIRST, I, I, UM, I COMMEND YOU ON YOUR PERSISTENCE WITH THIS PROJECT.
UH, I THINK LIKE A LOT OF THE OTHER MEMBERS HERE, I THINK THIS IS AN EXCELLENT SITE.
I CAN'T THINK OF A, UM, I MEAN WHEN YOU THINK ABOUT THE CRITERIA, WHAT WE'RE LOOKING FOR, I AGREE THIS IS A FANTASTIC SITE.
I TAKE EXCEPTION WITH YOUR, UH, CHARACTERIZATION OF PEOPLE IN NORTH DALLAS AS BEING NOT SUPPORTIVE OF AFFORDABLE HOUSING.
UH, THE EVIDENCE OF THAT IS THE FACT THAT THIS WAS APPROVED BY THE DALLAS CITY COUNCIL.
UH, THE DALLAS WARNING NEWS, AS YOU MENTIONED, SUPPORT CAME OUT IN SUPPORT OF THIS PROJECT TWICE.
I'M A MEMBER OF THE OK LAWN COMMITTEE, WHICH IS A MAJOR, UH, ORGANIZATION, NORTH DALLAS, WHICH IS ON RECORD OF BEING SUPPORTIVE OF AFFORDABLE HOUSING.
UM, PROJECTS, WHETHER THEY'RE AFFORDABLE HOUSING OR JUST OTHER PROJECTS IN THIS, AND ESPECIALLY IN THIS AREA, TEND TO BE DIFFICULT TO GET APPROVED.
UM, PEOPLE DON'T LIKE CHANGE WHETHER IT'S AFFORDABLE HOUSING OR ANYTHING ELSE.
AND I WENT BACK AND LOOKED AT THE CITY COUNCIL, UH, MINUTES, THE NUMBER OF OPPONENTS RELATIVE TO A TYP LIKE TO A TYPICAL ZONING CASE.
YEAH, THERE THERE'RE LOUD AND PEOPLE WHO ARE, I THINK JUST, AND I THINK YOU TOUCHED UPON THIS,
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UM, THE PEOPLE THAT TEND TO BE THE MOST VOCAL ARE ONES THAT ARE OPPONENTS.MOST PEOPLE ARE JUST BUSY LIVING THEIR LIVES AND, UH, DON'T HAVE OPINION ABOUT THIS STUFF.
FOR SOME OF 'EM ARE SUPPORTIVE, BUT THEY'RE NOT GONNA GET OUT AND SAY IT.
BUT PEOPLE THAT ARE OPPOSED ARE THE ONES THAT ARE GONNA BE MOST PRONE TO SHOW UP.
AND SO I THINK THAT OUR CITY COUNCIL MEMBERS, OUR ELECTED LEADERS ARE GENERALLY AWARE OF THAT FACT, AND THAT'S WHY THEY SUPPORTED THIS PROJECT BECAUSE THEY WEREN'T GOING TO SUPPORT SOMETHING THAT THEIR CONSTITUENTS, UH, HATE.
SO, UM, I, AND I, I FEEL THAT YOU'RE TRYING TO KIND OF CONFLATE TWO THINGS HERE.
THIS KIND OF IDEA THAT THIS IS THE LAST CHANCE WE HAVE TO DO AN AFFORDABLE HOUSING PROJECT IN NORTH DALLAS, WHICH I DISAGREE WITH.
I THINK THEY'RE DIFFICULT, BUT THERE WILL BE OTHER OPPORTUNITIES, UM, WITH GETTING, DRAGGING US INTO A, UM, WHAT'S ESSENTIALLY CONTRACT DISPUTE.
AND, YOU KNOW, LIKE IT OR NOT, RIGHT NOW YOU'VE GOT, THIS PROBABLY ISN'T THE LEGAL TERM, BUT YOU'VE EFFECTIVELY GOT A, A PARTNER IN THIS DEAL, UM, THAT YOU DON'T WANT BY VIRTUE OF THE FACT THAT THESE PARTIES HOLD THIS DEED RESTRICTION.
AND SO I DON'T THINK IT'S, YOU KNOW, THE PROBLEM OF THIS BODY TO BE MAKING THIS DETERMINATION AS WHETHER WE WANT TO GO DOWN, WHICH SOUNDS LIKE AN INCREASINGLY PERILOUS, UH, LEGAL PATH WITHOUT, UH, YOU KNOW, THIS IS SOMETHING I BELIEVE NEEDS TO GO TO CITY COUNCIL AND THEY NEED TO MAKE THAT DETERMINATION.
UM, I DON'T SHY AWAY FROM FIGHTS, BUT I DON'T THINK, AS SOME OF THE OTHER DIRECTORS HAVE SAID HERE, I DON'T THINK IT'S OUR, UH, IT SHOULD BE OUR BODY'S ROLE TO, UH, BE THE POINTY END OF THIS, UH, YOU KNOW, SPEAR THAT'S GOING TO DO THIS.
I WOULD RATHER THAT THE CITY COUNCIL, UH, MAKE THAT DECISION.
IF WE, IF WE DID TABLE THIS, WHICH I THINK IS A GOOD IDEA TOO, MY CONCERN IS WHEN WE WOULD MEET AGAIN ABOUT IT AND WHAT IS BEING BROUGHT TO THE TABLE THE NEXT TIME.
WILL YOU GO BACK TO CITY COUNCIL? WILL YOU BRING DOCUMENTATION FROM THE STATE REPRESENTATIVE SIMILAR TO HOW OTHER, UM, DISTRICTS HAVE DONE? UM, WHAT, WHAT ALL WILL YOU BE BRINGING BACK TO PRESENT TO MAKE THIS A STRONGER CASE? SO THIS, I MEAN, I BELIEVE THIS WAS THE PATH TO GET THE CITY COUNCIL.
SO THAT'S KIND OF WHY I THINK WE WERE HERE FIRST.
SO WE CAN, WE CAN TAKE A COUPLE DIFFERENT, DIFFERENT ROUTES.
OBVIOUSLY THE HFC CAN ACT FIRST OR, OR CITY COUNCIL CAN ACT FIRST.
I, I, IN MY OPINION, CITY, THEY DON'T, THEY AREN'T AWARE TO THE DEED RESTRICTION IS ISSUE.
OBVIOUSLY WE, WE WILL BE BRIEFING THEM ON THAT.
THEY HAVE MADE THEIR DECISION THAT THIS IS A, AN APPROPRIATE SPOT FOR AFFORDABLE HOUSING.
I THINK WE'VE SETTLED THAT, UH, HOWEVER WE CAN BECAUSE OF THE SPECIFIC NATURE OF THIS, BECAUSE WE ARE THE, I GUESS THE POINTY END OF THE SPEAR.
WE NEED TO MAKE SURE THAT CITY COUNCIL IS MAYBE THROWING THAT SPEAR, I GUESS, AND WE CAN TAKE IT THROUGH THE PROTOCOL AND MAKE SURE THAT THERE IS PUBLIC DISCUSSION ON A LARGER BASIS ABOUT WHAT EXACTLY IS THE CITY'S POLICY ON WHETHER OR NOT, I MEAN, I, I I, I, I'LL TAKE WHAT DIRECTOR, UH, DOER MENTIONED IS THAT WE, WE DO, DO WE WANNA SHY AWAY FROM POTENTIAL LITIGATION OR DO WE WANNA FIGHT FOR, UH, WHAT IS GOING TO CONTINUOUSLY BE HARDER AND HARDER FOR US TO BE ABLE TO PROVIDE AFFORDABLE HOUSING? UH, I, AND OBVIOUSLY I, I UNDERSTAND AND CUZ I, I WORK FOR THE CITY MANAGER AND HE HAS TO RE ASK ANSWER TO COUNCIL AS WELL.
SO WE ALL KNOW, UH, THAT WE WANNA MAKE SURE THAT WE'RE ALL ON THE SAME PAGE POLICY GOING FORWARD.
AND WE CAN TRY AND WE WILL WORK AS FAST AS POSSIBLE TO GET THIS IN A TIMELY MANNER FOR THE DEVELOPER'S SAKE, FOR THE AFFORDABLE HOUSING SAKE AND FOR, UH, THE, THE CURRENT LANDOWNER'S SAKE, EVERYBODY'S SAKE, TO TRY TO MOVE THIS AND GET A DEFINITIVE ANSWER ONE WAY OR THE OTHER.
HOWEVER, I DON'T THINK WE SHOULD, WE SHOULD CERTAINLY NOT, UH, JUST SAY NO.
WE'LL COME BACK WITH, WITH STRONGER FOOTING.
UH, WE'LL MAKE SURE THAT, UH, OUR CORPORATION COUNSEL DOESN'T LOSE SLEEP OVER IT AS MUCH AS HE PROBABLY ALREADY HAS.
SO WE'LL COME BACK WITH A MUCH MORE DEFINITIVE, UH, ISSUE.
I JUST WANTED TO MAKE, I DID NOT WANNA SAY NO TO BRINGING THIS TO THIS BODY'S ATTENTION IN THIS, IN THIS TIMEFRAME, BUT I ALSO WANNA MAKE SURE THAT WE'RE, WE'RE, WE'RE ALL WORKING TOGETHER IN CONCERT SO THAT THERE'S A UNIFIED APPROACH TO THIS PROJECT.
SO THAT'S WHAT I WOULD SAY TO ANSWER WHAT WE'LL BE COMING BACK.
SO IF EVERYONE'S OKAY WITH IT, UM, I GUESS I WOULD ENTERTAIN A MOTION TO POSTPONE.
I THINK WE NEED, I WILL MAKE A MOTION TO POSTPONE, UH, THIS VOTE OR THIS VOTE OR RIGHT, THIS RESOLUTION.
OKAY, SO I'VE GOT ELLIS AND ENDURER.
WAS ANYONE ELSE OPPOSED? OKAY.
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WE HAVE TO DECIDE, UH, WHAT TO DO WITH OUR AGENDASO NONE OF THE NEXT ITEMS, I'LL JUST, JUST FOR POINT OF ORDER OR, OR WHATEVER.
NONE OF OUR ITEMS ARE TIME PRESSING SO WE CAN BRING THESE BACK NEXT TIME AND WHEN WE HAVE MORE CHANCE TO, TO ACTUALLY KIND OF TALK ABOUT WHAT WE'RE TRYING TO DO.
I'M VERY EXCITED THOUGH ABOUT OUR, OUR FOR SALE HOUSING OPPORTUNITIES, UH, TO BE ABLE TO PROVIDE THIS PROGRAM.
UH, UNLESS THE, UNLESS THE BOARD MARK, IF PRESIDENT HEEN YOU, YOU FEEL THAT YOU HAVE ENOUGH INFORMATION, DON'T NEED TO ASK QUESTIONS ABOUT THIS, WE CAN CERTAINLY MOVE ON IT.
HOWEVER, IT'S NOT GONNA KILL ANYTHING.
WE'LL JUST HAVE MORE CASH IN THE BANK BY THAT TIME, HOPEFULLY FROM OTHER PROJECTS AND CASH FLOW REVENUES AND THINGS OF THAT NATURE.
SO I, NOTHING DOES ANYONE, UM, I'LL KIND OF LOOK FOR A CONSENSUS.
IS IT OKAY WITH EVERYONE IF WE POST PHONE? WELL, NO, WE DON'T HAVE TO DO ANY MOTION, BUT JUST IF WE DECIDE TO NOT TAKE UP THOSE OTHER THINGS ON THE AGENDA UNTIL NEXT TIME.
DID ANYONE HAVE ANYTHING ELSE? UM, I GUESS I WILL CALL THIS MEETING ADJOURNED AT ONE 50.
THANK YOU EVERYONE, AND WE WILL SEE YOU NEXT MONTH.