D ECONOMY: NEWS

Cedar Crest Community Center Now Open

A 50-year-old community center reopened their doors on January 11, 2024, celebrating the completion of the 7.9-acre Cedar Crest Community Center renovation. The ribbon cutting ceremony, attended by Darrion Lewis Sr., President and CEO of Behind Every Door, and Deputy Mayor Pro Tem Carolyn King Arnold, featured a lively performance by the Roosevelt High School Marching Band. The Dallas based non-profit, Behind Every Door (BED) Ministries, Inc. purchased the community center to restore the important asset to the South Oak Cliff community, with funding assistance from the New Markets Tax Credit program and the  Dallas Development Fund. With state-of-the-art facilities, including a fitness room, sports fields, and health clinics, the Cedar Crest Community Center is now open to the public and estimated to serve over 3,000 low-income community members at 1007 Hutchins Road, Dallas, Texas 75203.

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Dallas International District on the Move

Since 2012, the City of Dallas has worked tirelessly with private developers, the North Dallas Chamber of Commerce and neighborhood stakeholders to craft a redevelopment vision for the 450-acre Valley View-Galleria area. After extensive research, the area has been repositioned as Texas’ first international district. The area is already home to numerous international restaurants and a diverse and dynamic residential community. The area was renamed the Dallas International District with a goal to celebrate the variety of residents from across the world who have chosen Dallas as their home.

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Program Spotlight

Created in 2009, the New Markets Tax Credits (NMTC) is a program administrated through the City of Dallas’ non-profit Community Development Entity (CDE), Dallas Development Fund (DDF). The program permits taxpayers to receive a credit against federal income taxes from the U.S. Department of Treasury’s Community Development Financial Institutes Fund. Investments are used for projects in low-income communities and the credit received is 39% of the original investment.

DDF was most recently awarded $55 million in the 2021 allocation cycle and has closed $185 million in allocation to date. Eligible projects are in highly distressed Census tracts, offer strong community impacts, demonstrates a “But For” need for NMTC subsidy, and are typically $5 million+ in total project cost.  

More information is available here.

Incentive Inquiry Tool

Do you need help determining the best incentive program for your project? 

Complete our Incentives Inquiry Tool!  

Have questions about Economic Development programs?

Staff is available every third Thursday of the month during office hours between 3 p.m. and 4 p.m. for questions regarding the City's economic development tools. Join us for our next monthly meeting on February 15 at 3 p.m.
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