(CBS 11 News)
DALLAS There?s a new stumbling block for a project
that could change the face of downtown Dallas. Dallas City Limits is the
development that would require the city to swap Reunion Arena for a parking
lot, but now there are legal issues that could prevent the project from being
built.
The developer held what seemed like a pep rally at city hall Tuesday. The
group wants the city to help pay for the project, but the city hasn't made an
offer. To many who were there, the event played more like a sales pitch aimed
at trying to force the city into a negotiation.
Dallas City Limits is a proposed $250 million entertainment center that would
include a concert venue, a rodeo arena and luxury corporate suites. Developer
Billy Bob Barnett of Billy Bob's honky-tonk in Fort Worth has been working on
the plan for more than a year, but negotiations with Dallas city staffers have
stalled.
Dallas City Manager Mary Suhm said, ?It's a challenging, complex deal. It's
not easy to do.?
The first hurdle is securing the land. As CBS 11 first reported, this project
would require Dallas to strike a deal with oilman Ray Hunt to swap Reunion
Arena for a downtown parking lot. The city owns half of the lot and Hunt owns
the other. The land is worth $30 million, and Dallas City Limits needs both
properties for its 400 thousand square foot project. But the developer doesn't
have a confirmed plan for how the land or the entertainment complex will be
paid for.
Bill Beuk, who?s with Dallas City Limits, said, ?At this point we don't have
closure on the financing.?
The developer wants the city of Dallas to pay for part of the deal. That
presents hurdle number two: the American Airlines Center and its non-compete
clause. Dallas attorneys have waved a red flag over this issue and have called
a closed door meeting with the council to discuss it.
Dallas Mayor Laura Miller issued a statement on the situation Tuesday
afternoon. She said, "All the problems stem from one fundamental flaw: the
developer is asking for $20 million in tax money, but he has no money of his
own and no track record on a project this size. That's pretty much a
non-starter for me."
