Community Development Corporation

Lewisville BridgeThe Lake Dallas Community Development Corporation (LDCDC) was created in January 2003 to foster improvements in the commercial area of the city and to enhance the quality of life in the city as a tool for attracting new businesses and residents. The CDC Board of Directors is a seven-member board appointed by the City Council. The revenue that the CDC uses to pay for the projects it undertakes comes from a cent add-on to the sales tax. This tax provides approximately $350,000 annually for the CDC to use on its projects.

The CDC has a number of projects which it can participate in, as noted below from the Bylaws of the Corporation and the Articles of Incorporation:

  • Acquire or lease property
  • Plan, develop, improve and sell or lease land
  • Build or rehabilitate buildings for sale or lease
  • Sell or lease property
  • Make loans and/or loan guarantees
  • Borrow funds and issue bonds with City Council approval
  • Sue or be sued in the Corporation's name
  • Develop long range goals and programs
  • Appoint standing or ad hoc committees
  • Employ personnel and/or contract for support services with professional consultants and contractors
  • Market and promote the City
  • Provide funding for developments or to enhance infrastructure

Tower and Main St.

The CDC has been very busy since its inception. Some of the projects that the CDC has funded include:

  • Provided funding along with the Economic Development Corporation (EDC) for the Main & Market project at 209 Main Street
  • Shared the cost of a Land and Thoroughfare Planning Study with the EDC
  • Funded a Parks, Recreation & Open Space Master Plan that has led to three park improvement projects
  • Funded the improvements to River Oaks Park, completed March 2006.
  • Borrowed $900,000, and applied for and received grant funds and contributions for major improvements to City Park and Willow Grove Park, which are to be implemented in summer 2006
  • Paid 50% of the cost of an economic development consultant and paid for administrative support from the City
  • Initiated the Christmas lighting on Main Street buildings by purchasing and installing lights on downtown buildings
  • Provided financial support to the Keep Lake Dallas Beautiful committee and Parks and Recreation special events
  • Funded a directory of city businesses for placement in local businesses