The Dallas City Council approved an economic development incentive package authorizing up to $23.5 million in Chapter 380 grant funds for the first phase of the University Hills “Rivulet” master‑planned development. The grant is structured as reimbursement in four payments tied to infrastructure milestones, with the largest final payment of about $9.6 million contingent on lots being taken down and other milestones.

Kevin Spath, director of the Office of Economic Development, said the project requires roughly $47–50 million of horizontal infrastructure to make 300 single‑family lots and shovel‑ready multifamily and commercial tracts available. The developer will initially put in the infrastructure and seek reimbursement as sections are accepted by the city. Staff told council underwriting reviewed financing and market absorption assumptions and that bonds would be issued only after firm commitments were in place.

Several council members expressed concern about paying significant sums before vertical construction occurs and asked for protections including deed restrictions, take‑down agreements with builders, staged reimbursements and a holdback tied to home‑builder take‑down milestones; staff and the city manager said the contract includes milestones and a final holdback. After extended debate about timing, financing and audit protections, the council approved the measure.

Supporters said the grant will unlock substantial private investment (staff estimated eventual vertical investment in the hundreds of millions) and create single‑family home opportunities in South Dallas; skeptics cautioned about risk, subordinate lien positions and the city’s exposure if the market softens.