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SOUTHERN DALLAS -- The city of Dallas is jumping into the residential-development game.
By a 14-1 vote, the Dallas City Council has agreed to take $1.1 million in general economic-development funds to create a limited liability partnership to develop "workforce housing" in southern Dallas.
The unique public-private program is the brainchild of Jerry Killingsworth, who will become the city's housing director Jan. 2 after retiring from a longtime executive post at Bank One Corp.
Killingsworth has been advising the city on housing matters on a part-time basis for the last six months.
"If you ventured around, you wouldn't find any city municipalities that have been willing to take $1 million in general funds and step out there like this in a limited partnership," Killingsworth said. "This program is highly unusual."
The concept first came up at a City Council-Housing Department retreat earlier this year.