ULI Dallas-Fort Worth October Forum: Municipal Budgets and Changing Property Values

When

Tuesday, October 27th, 2020
12:00pm - 1:00pm CDT

Where

ZOOM
ULIDFW Forums are content focused, information-dense events, concisely packaged in a hour long presentation or panel discussion. Typically attracting 100+ attendees, our Forums are known for offering members and non-members alike the opportunity to hear from regionally and nationally renowned industry thought-leaders on the most current of CRE topics.

Pricing

Standard Pricing Until October 27 Members Non-Members
Private FREE $15.00
Public/Academic/Nonprofit FREE $15.00
Retired FREE N/A
Student FREE $15.00
Under Age 35 FREE $15.00

 

 
 

As the fourth quarter begins, CRE is looking to 2021 and what it will bring. Already looming are expected revenue shortfalls for governments due to COVID-19, which bring considerable implications for funding of items important to CRE – infrastructure, permitting, code, etc. Some of these items are debt-focused, like local infrastructure, others are operational, and may have their own dedicated funding sources. With not only property and sales tax revenues, but also fee-based services like plan review and permitting, and property valuations and reassessments all looming, how are cities going to adjust priorities for a potentially much smaller pie that was already precisely sliced?

Join local representatives from the City of Dallas, City of Plano, and JLL for an insightful, inside peek, and a forward looking discussion moderated by Marti Shew of Hilltop Securities.

 

Speakers

Speaker

Karen Rhodes-Whitley

Budget and Research Director, City of Plano

Karen Rhodes-Whitley, is currently the Director of Budget & Research for the City of Plano, Texas, and has over 35 years of financial budgeting experience. She has been with the City of Plano for 30 years, 22 of which she has served as the Budget Director. In addition to her Budget duties, she is currently the Program Co-Chair for GFOAT and is a on the CORBA Committee with GFOA. She is also Past-President of the Government Financial Officers Association of Texas and past member of the Economic Development and Capital Planning Committee and Budget Committee for the National Government Financial Officers Association plus is a Budget Reviewer. Karen holds a BBA from the University of Texas at Austin and an MPA from the University of Texas at Dallas. She is also a Certified Public Manager and a Registered Tax Assessor/Collector. She also serves as an Associate Director of the Institute of Public Finance Certificate Program through Texas Tech University. She has been a speaker on various budget and capital project topics at GFOA, GFOAT, TML and ICMA Conferences. In November 2014, she received the 2014 Outstanding Service Award from the Government Finance Officers Association of Texas.

Speaker

Elizabeth Reich

Chief Financial Officer, City of Dallas

Elizabeth Reich began her service as the City of Dallas’ Chief Financial Officer in September 2016. In this role, Elizabeth is accountable for the financial policy and operations of the nation’s 9th largest city, with an annual budget of over $3 billion. Elizabeth provides executive​ leadership for budget, procurement, communication & information services, risk management, equipment & fleet management, accounting, investments, and managing some Federal grant funds. ​​In addition, Elizabeth was instrumental in brokering a pension compromise that saved the Dallas Police and Fire Pension after years of mismanagement, risky investments, and expansions of already generous features. The City of Dallas employs over 13,000 dedicated people with a primary mission of serving the over 1.3 million residents of the City. Annual property tax values within the City of Dallas have grown each year since 2012, including an all-time high of 10 percent growth in 2016. Sales tax, also a key indicator of economic well‐being, has grown 79 out of the last 84 consecutive months, and has increased 3.1 percent, as of December 2017. The City of Dallas owns Dallas Love Field airport, which is home to Southwest Airlines, and the Omni Hotel in Downtown Dallas, connected to the Dallas Convention Center, an economic engine attracting tourists for both business and pleasure to Dallas. Unemployment in Dallas remains lower than both the Texas and national levels. As the Chief Financial Officer for the City of Dallas, Elizabeth is responsible for the Office of Budget, the Office of Risk Management, the City Controller’s Office, and Procurement Services. Elizabeth is proud to work with a team of 158 employees within these departments. Together, we strive to find innovative ways to serve our City customers and, by extension, to address the needs of Dallas residents. We purchase over $400 million in products and services annually. Dallas excels in its financial practices, and all of our annual budgets, since Fiscal Year (FY) 1999, have received a Distinguished Budget Presentation Award from the Government Finance Officers Association (GFOA). In addition, since FY 2005, our Comprehensive Annual Finance Report (CAFR) has received the Certificate of Achievement for Excellence in Financial Reporting from GFOA. Prior to joining the City, Elizabeth enjoyed a 16-year career with the Social Security Administration, including serving as its Chief Financial Officer in 2015. In that role, Elizabeth was accountable for an over $940 billion program budget and an over $11 billion administrative budget. Elizabeth was also responsible for providing executive leadership for the following agency programs and operations: acquisition and grants; anti-fraud programs; budget; financial policy and operations; facilities and supply management; media management; quality improvement; quality review; records management and audit liaison; and security and emergency preparedness. Elizabeth was born in Oklahoma and Dallas is her home. She received a Master of Public Administration from The American University in Washington, D.C. in 2000. ​

Speaker

Mark Lamb

JLL-Valuation & Advisory Services

Mark R Lamb serves as Executive Vice President of JLL’s Valuation and Advisory (VA) in the Dallas TX metropolitan area. In this role, he is focused on real property, personal property, going concern and partial interest valuations for consulting, due diligence, lending, public offerings, financial reporting, purchase price allocation, estate and gift tax, tax planning and filing, market and feasibility studies, renewal options, litigation support and expert testimony. Immediately prior to joining JLL on December 1, 2016, Mr. Lamb was a charter stockholder and Senior Managing Director of the Dallas, Texas office of Integra Realty Resources DFW. Mr. Lamb co-founded LamBis Consulting in 1991 with Charles Bissell, which merged with Fort Worth based Appraisal/Data Services in 1999 and subsequently became part of Integra Realty Resources. He has been actively engaged in commercial real estate valuation and consulting since 1984 and conducted valuation assignments in over 30 US States and Mexico. Mr. Lamb has extensive experience in various property types including but not limited to; apartments, student housing, affordable housing, HUD, office buildings, retail centers, manufacturing facilities, data center subtypes including co-location, enterprise, hyper-scale, micro and powered shell, industrial distribution, cold-storage, self- storage, healthcare facilities, meat packing plants, mixed-use residential and commercial subdivisions, limited and full-service lodging, gaming, ranch land, municipal, state and federal tax abatements, utility districts, tax increment finance districts and public improvement districts. In addition, he has also completed partial interest valuations of single purpose entities, joint ventures, tenants-in-common, and trusts for financial reporting and tax planning. He has extensive experience managing the valuation of portfolios of data centers, industrial, NNN retailers, restaurants, hotels, and subdivisions.