In what I expect was a piece of theater, last night, the Dallas City Council trucked over to Fair Park to meet with the people in an open-door session. The goal was for citizens to voice their opinions about the Fair Park task force’s plans. As one black community leader pointed out, a two-hour session with the neighborhood after a year of work by a largely secretive task force was “a slap in the face.”
Before I continue, I ended my last piece on Fair Park wondering how much rent the city was generating from the State Fair.
In 2013 (the most recent financial statements I could find), the State Fair generated $42,411,006 in revenues (up $4.5-million from 2012) and paid the city $1,784,185 in rent for its 3.5 month lease of Fair Park. That would place an annual rental value on Fair Park of $5,947,283 or just $1,789 per acre per month. Does that seem a terrifically low price for a National Register property?
Put in perspective, the nonprofit State Fair pays its top nine executives just over $3 million in salaries and perks, not quite double what they pay the entire city of Dallas. Also keep in mind, for $1,789 a month you could either rent a 917 square foot, 1-bedroom apartment in West Village or an ACRE at Fair Park with all its accompanying historical buildings. How’s that for perspective?