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The Tower |
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| Gideon
Toal, Inc. was retained by TLC Green Property Associates I, L.P. to
develop an economic development strategy and negotiate the redevelopment
of the tornado-ravaged Bank One Tower into 150 rental units and 150
for-sale units with over 30,000 square feet of ground floor retail.
Gideon Toal prepared the financial information necessary to initiate
an economic incentive request totaling $16.9 million in public incentives. The public incentives consisted of: • 15-year Tax Increment Financing Parking Lease • 15-year City Program 380 Tax Rebate • 10-year County, Hospital District, College, and Water District Tax Abatements • Environmental Reimbursement Agreement Gideon Toal managed the negotiations between the developer and the multiple taxing jurisdictions, including the Downtown TIF District. This included an extensive cost/benefit analysis showing the impacts of the project on the community. After the start of the construction and during the pre-sales of the for-sale units, the entire project was converted to for-sale due to the overwhelming demand. |
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