Klyde Warren Park
Dallas Arts District
PID Renewal

Dear Property Owner,

Klyde Warren Park and the Dallas Arts District have transformed our neighborhood into one of the most dynamic and desirable destinations in the nation. Together, they attract millions of visitors, drive unprecedented economic growth and create a vibrant core for Dallas and North Texas.

Since its creation in 2014, the Klyde Warren Park/Dallas Arts District Public Improvement District (PID) has played a pivotal role in the cleanliness, safety and vitality of this area, ensuring it remains a welcoming and thriving place for residents, visitors and businesses alike. Continually bringing national honor to our city, Klyde Warren Park was recently named one of the "35 Most Stunning Destinations in the U.S.," and the Dallas Arts District was named the "Best Arts District in the Nation" by USA Today.

As you might know, the leadership of Klyde Warren Park has been working tirelessly to complete the Park with an almost two-acre westward expansion. Remarkably, we've raised more than $80 million to make this possible, but we still need to generate an additional $20 million to ensure we can fund ever-increasing construction costs and complete the expansion decks.

We therefore are seeking your support for an increase in the PID assessment rate for a one-time renewal period from 2.5 cents to 5 cents per $100 in appraised property value (a $250 annual increase per $1 million in value). Importantly, this assessment would remain in place only for a 10-year renewal period to allow us to pay back a $20 million public-sector loan at an extremely low interest rate and build the expansion decks. Once the obligation is retired, the expansion complete and the renewal period over, the PID assessment rate will return to its current 2.5 cents.

Since its creation in 2014, the Klyde Warren Park/Dallas Arts District PID has driven unprecedented economic growth, with property values within the PID increasing from $2.5 billion to over $8 billion, resulting in more than $660 million in incremental tax revenue for Dallas, DISD, Dallas County, Dallas College and Parkland Hospital. The planned expansion is expected to add another $2 billion in economic development and generate more than $50 million annually in new tax revenue for our community. However, with construction and engineering costs rising rapidly, it's "now-or-never" for us to finish our beloved Park.

For more information, please refer to the attached. If you have questions, feel free to email us at info@klydewarrenpark.org or info@dallasartsdistrict.org. To support this important project, we respectfully request you to sign and return the enclosed petition by December 15, 2024.

Thank you for your continued partnership and commitment to making our neighborhood one of the most inspiring and successful urban spaces in the country.

Sincerely,