Estrada Hinojosa serves as Financial Advisor to the Woodall Rodgers Park Foundation for Phase 2.0 of the Klyde Warren Park.
Since opening in 2012, Klyde Warren Park has transformed Dallas’ urban core. It offers more than 1,300 free programs and events each year and celebrates inclusion and diversity with guests from around the city and the world. The park’s economic impact is equally as powerful, it has generated $658 million in incremental property taxes for the City, County, Dallas ISD, Dallas College and Parkland.
A unique public-private partnership (P3) between the North Central Texas Council of Governments
(NCTCOG), Texas Department of Transportation (TxDOT), the City of Dallas, and the Woodall Rodgers Park
Foundation (Klyde Warren Park) turned this vision into a beloved community green space.
The expansion will cover the final recessed portion of the Woodall Rodgers Freeway, creating a continuous deck from Pearl Street to west of Akard Street. Some of the features will include a weather-protected venue, expanded space for events/programs, outdoor entertainment amenities and multimodal transportation accessibility.
Phase 2.0 construction costs will exceed $100 million and the approximate $80
million already secured in Private, Federal, State and Local grant funding programs won’t suffice. As
Financial Advisor, Estrada Hinojosa worked with the client to determine how to fund the remaining
approximate $20 million dollars in funding.
The Park’s operating budget has historically been funded by tax levy from the Downtown Public
Improvement District (PID). The PID levy was $0.025 cents, and has since increased to $0.050, with support
from Estrada Hinojosa.
Due to the unique nature of the park deck constructed over a roadway, the project qualifies assistance from TxDOT State Infrastructure Bank (SIB) loan program, a subsidized innovative mechanism to assist communities with transportation related projects. The favorable terms were made possible by the SIB Loan program, which provides subsided, below-market borrowing rates for qualified transportation-related projects. EH applied to the SIB loan program on behalf of the Foundation.
