Good News for Those of Us Tired of Dallas City Hall Writing Blank Checks

For as long as we can remember, Dallas City Hall has doled out development dollars willy-nilly. And that's being charitable.Whether operating from a desire to get dirt flying or because acquiescence was easier than telling developers no, city staff too often handed out bags of money to whomever had a decent idea. All of this with the blessings — and often the muscle — of City Council members.The pitch would go something like this:Developer: "My project will cost me $60 million to build and will add $200 million in real estate value. So I think you, Dallas City Hall, should throw in $40 million of that $60 million."The problem is that the city wasn't getting the steal the developer implied. That $200 million in value, while subject to property taxes, belongs not to Dallas but to the project's owner.Other times, the ask would be much smaller, but made by a perennial hat-in-hand player whose work too seldom added real value to a neighborhood.  Continue reading...