South Dallas Fair Park Opportunity Fund

The South Dallas/Fair Park Opportunity Fund is a City of Dallas initiative created to promote equitable economic and human development in neighborhoods surrounding Fair Park. Initially envisioned in 1987 through the adoption of a community-driven preservation and development plan, the Fund was officially established in 1989 with support from the City Council. Over time, its structure and policies have evolved through ordinances and resolutions, culminating in its current iteration governed by the South Dallas/Fair Park Opportunity Fund board and administered by the City’s Office of Economic Development. The fund is designed to reinvest revenue generated by Fair Park events into local communities, creating a sustainable mechanism for area revitalization. The program provides two main forms of financial support: repayable loans and limited-scope grants. At least 75% of budgeted funds each fiscal year must be disbursed as loans, while no more than 25% may be awarded as grants. Additionally, a maximum of $200,000 annually may support human development contracts, which are targeted at improving local outcomes in education, workforce participation, public safety, health, and small business development. Economic development awards must result in job creation, job retention, or an increase in the local tax base. Eligibility restrictions apply to both funding types, including disqualifications for applicants with tax liens, bankruptcies, or prior contract defaults with the City. Funding sources include a $0.20 surcharge on amphitheater tickets, a share of profits from Fair Park flea markets and antique shows, revenue from loan repayments and interest, and a supplemental allocation (PILOT) to ensure a minimum annual fund inflow of $500,000. This hybrid funding model aims to maintain program viability even during years of lower Fair Park activity. The fund operates within seven designated 2020 Census tracts, ensuring benefits are geographically targeted to the South Dallas/Fair Park area. Applicants for economic development projects may apply year-round on a rolling basis using the Office of Economic Development's current application forms and underwriting criteria. Human development grants are offered up to twice annually via a formal Notice of Funding Availability (NOFA). Each NOFA includes detailed evaluation criteria and specific application procedures. Only projects offering new or expanded services to Service Area residents are eligible for human development support, and applicants must demonstrate a dollar-for-dollar match, primarily in cash. Each approved award is formalized through a written contract that includes clear performance metrics aligned with public benefit goals. Human development awardees must demonstrate service to a population that is at least 90% within the designated service area, with quarterly reimbursement based on documented expenditures and outcomes. Economic development contracts similarly require measurable progress toward job or tax base growth. For both program tracks, applications are vetted by staff for compliance before being presented to the Opportunity Fund board for recommendation. Final approval follows standard City of Dallas procedures. Through this process, the South Dallas/Fair Park Opportunity Fund aims to deliver transparent, accountable, and community-focused economic reinvestment to historically underserved neighborhoods.

Ensure documentation of service area coverage and financial/legal compliance; incomplete or ineligible applications will be rejected.