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Unanimous Decision: Dallas Economic Development Corporation Confirms Linda McMahon as First CEO

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Unanimous Decision: Dallas Economic Development Corporation Confirms Linda McMahon as First CEO


Linda McMahon, a powerhouse in the real estate industry, has been named the inaugural CEO of the Dallas Economic Development Corporation (DEDC) in a unanimous decision this week. McMahon is poised to steer the organization starting July 1, 2024.

The decision follows a six-month nationwide search and McMahon’s nomination as the sole finalist for the position on May 3, 2024, as reported by multiple news outlets.

John Stephens, president of the Dallas EDC board of directors and retired chief financial officer at AT&T, praised McMahon’s appointment. “Linda McMahon’s depth of experience and strategic approach to economic development align perfectly with Dallas EDC’s mission,” he said in a statement. “Her visionary leadership is exactly what we need to propel Dallas into a new era of economic prosperity.”

Currently, McMahon serves as the president and CEO of The Real Estate Council (TREC), where she will end her more than 13-year tenure on June 30, 2024, before transitioning to the new role. The DEDC, established as a nonprofit in January 2022, aims to bolster local businesses, stimulate economic growth, and enhance infrastructure in Dallas, including a focus on the city’s Southern sector. Operating independently from the city government, the DEDC can act as a public developer by purchasing, selling, and leasing land for projects.

Stephens expressed confidence in McMahon’s ability to lead the DEDC’s mission, calling her “an ideal fit” for the role. McMahon was among the 15 inaugural board members of the DEDC, appointed by the Dallas City Council in August 2022. The board comprises attorneys, bankers, former elected officials, and leaders from various sectors.

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After the May 7 confirmation, she took to LinkedIn to share her excitement about the role: McMahon said she appreciates “the confidence the Board of Directors has shown in me to lead this crucial effort in transforming the City of Dallas into the epicenter of business growth and opportunity.”

In an interview with Candys Dirt—which calls McMahon a “force to be reckoned with”—the incoming CEO also emphasized the EDC’s focus on business growth and development.

“The EDC was created to attract businesses and to grow business in the City of Dallas and to be the public developer of real estate for the City of Dallas,” McMahon said. “That business attraction, that engagement, and identifying opportunities to grow our tax base with new businesses is our No. 1 priority.”

The publication also highlighted optimism from community leaders, including Dallas Mayor Pro Tem Tennell Atkins and District 1 Councilman Chad West, about McMahon’s potential impact. Atkins noted, “Her leadership at the Dallas EDC signifies a promising future for Southern Dallas,” adding, “Her deep-rooted relationships and commitment to community development, her capacity to drive significant change, and her prowess in attracting impactful business investments are exactly what Dallas requires.”

During her tenure at TREC, McMahon led major community investment initiatives, fundraising efforts, advocacy campaigns, and leadership development programs that significantly bolstered the commercial real estate sector and economic growth in Dallas. Noteworthy projects include the $3 million Dallas Catalyst Project in the Forest District and the establishment of the Dallas Collaborative for Equitable Development. McMahon also played a critical role in the region’s Amazon HQ2 pitch, from the initial response to the detailed Dallas bid. 

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Following McMahon’s departure from TREC and until a new CEO is selected, Summer Loveland, TREC’s CFO/COO, will serve as its interim CEO. TREC board chairman Mike Geisler emphasized that the organization’s solid foundation and deliberate preparation ensures TREC will “evolve smartly and will remain deeply impactful and influential well into the future.”

In an announcement, Geisler praised McMahon’s “tireless advocacy” for the real estate industry locally and at the state level. He added: “We are at a time of real opportunity in Dallas, and we are confident that Linda’s dedicated service and deep knowledge of our city will help Dallas continue to grow and prosper well into the future.”

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Dallas City Council approves resolution to explore leaving Dallas City Hall

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Dallas City Council approves resolution to explore leaving Dallas City Hall


Dallas City Council members approved a measure to explore options for leaving Dallas City Hall while, but left the door open to staying in the iconic building.

Resolution to explore leaving City Hall passes

What we know:

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The resolution approved will explore options to buy or lease a new City Hall building. It was amended to include a plan to pay for repairs to the current building that would be compared side by side to the options to leave.

Dallas City Council approved the resolution by a 9-6 vote. The vote came around 1 a.m. Thursday morning after 14 hours of debate.

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Councilman Chad West told FOX 4’s Lori Brown that if the city decides to stay or leave City Hall, the resolution includes proposals to redevelop the land around the building.

“We still should be looking at redevelopment options to tie it into the convention center later on, because otherwise it just equals ghost town, which is what we have now,” West said. “And of course, if we decide to move and City Hall itself gets repurposed or demolished and something gets built there, we need to have a projected plan for what that could look like as well.”

Debate on City Hall’s future

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Local perspective:

Around 100 residents spoke about their desire to keep the current Dallas City Hall, the historic structure designed by architect I.M. Pei.

“The thought of losing this land to private hands is disheartening. A paid-off asset, unfair to taxpayers, built on what is here,” Meredith Jones, a Dallas resident, said.

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“The decision belongs to the people, not the city council,” David Boss, the former manager of Dallas City Hall, said.

Several questioned why the price tag for a repair is public knowledge, but the cost for a move isn’t.

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“The public deserves to know the value of the land we are giving up. Dallas deserves a careful decision, not a rushed one,” resident Azael Alvarez said.

Future Mavs arena looms large

Dallas City Council went back and forth on the resolution, amending it before it finally passed. Much of the conversation revolved around the Dallas Mavericks’ potential interest in the site for a new arena.

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Mayor Eric Johnson lamented that conversation revolved around the Mavs’ future and not City Hall itself.

“A  conversation about a particular sports team and where you want them should never have been part of the conversation because that was not what was infront of us,” Johnson said. “I’ve never seen such vehement opposition to gathering more information.”

Councilwoman Cara Mendelsohn wore a Mavericks T-shirt to a recent hearing due to the continued conversation around them.

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“We’re talking a lot about the Mavs. They’re the elephant in the room, but they’re actually not here, so let’s at least let them have a seat at the horseshoe,” Mendelsohn said on Monday.

Residents were also upset at the idea of City Hall being bulldozed to make way for a new Mavs arena.

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“The Mavericks were ridiculed nationally, and still are. Worst trade in the history of the NBA,” one resident said Monday. “The decision to knock this building down without all the facts and allowing the people to make the decision is your Luka Dončić trade.”

A potential 10-digit repair cost

The backstory:

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Experts who assessed Dallas City Hall said the 47-year-old building’s mechanical, plumbing, heating, air conditioning, and electrical systems don’t meet modern standards. 

It put a $906 million to $1.4 billion price tag on keeping the iconic building, which was designed by the famous Chinese architect I.M. Pei, for another 20 years.

Downtown Dallas Inc., an advocacy group for Downtown Dallas, said last week they support leaving the current City Hall site.

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“We believe Dallas City Hall is no longer serving its intended purpose. The important functions that happen and must continue to be evolved and innovated within our city government are inefficient and truly stymied in that space,” said Jennifer Scripps, President and CEO of Downtown Dallas Inc. told the crowd. “Our board called a special called meeting and voted unanimously in support of pursuing options to relocate City Hall and redevelop the site. We were we feel that the opportunity is huge.”

The Source: Information in this story came from FOX 4 reporting.

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Dallas, TX

Study says the real value of a $100K salary in Dallas is…less than that

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Study says the real value of a 0K salary in Dallas is…less than that


How much do you earn? And how far does that paycheck really go?

In Dallas, a $100,000 salary is a figure that’s more than double the area’s individual median income, but nevertheless a useful benchmark for the region’s burgeoning business community. However — once taxes and the local cost of living is factored in — it has the effective purchasing power of around $80,000 according to a new financial report.

Consumer-focused fintech site SmartAsset worked the numbers on the country’s 69 largest cities, determining the “estimated true value of $100,000 in annual income” in each location by measuring federal, state and local taxes as well as local cost of living data, including on housing, groceries and utilities.

It used its own proprietary figures, as well as information from the Council for Community and Economic Research.

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Despite recent research suggesting North Texas has lately been losing some of its famous economic advantage — a major factor behind the region’s explosive growth — Dallas actually fared relatively well in SmartAsset’s analysis. Of the 69 cities, Dallas’ effective purchasing power, of $80,103 on the $100,000 salary, tied with Nashville to rank 22nd highest.

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Like many cities in the report, Dallas also actually saw a year-over-year effective salary bump, likely because of slightly lower effective tax rates and living costs that have hewed closer to the national average. In 2024, the value of a $100,000 salary in Dallas came out to $77,197.

Other large Texas cities fared even better than Dallas. El Paso, where SmartAsset calculated the effective value of the $100,000 salary at nearly $90,300, ranked third highest overall.

San Antonio, where the effective value was around $86,400, ranked eighth. Houston, where the figure was around $84,800, ranked 10th, and Austin, where the figure was $82,400, ranked 17th.

Oklahoma City topped SmartAsset’s value ranking, with an effective salary of around $91,900, and Manhattan, which the website considered as its own city, came in with the lowest value, at around $29,400.

Dallas’ relatively strong effective value score won’t necessarily translate to the good life: Another financial report, published in November by the website Upgraded Points, determined that even a single adult with no kids needs a pre-tax salary of at least $107,000 to live “comfortably” in the Metroplex.

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Public frustration grows as Dallas leaders debate billion‑dollar City Hall fix or relocation

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Public frustration grows as Dallas leaders debate billion‑dollar City Hall fix or relocation


Dallas City Council members spent the day hearing hours of public criticism as they weigh whether to spend roughly $1 billion to repair the aging, 50‑year‑old City Hall or pursue a plan to move out entirely. The meeting grew tense as residents voiced mistrust over the council’s motives, prompting members to suspend normal rules and allow anyone in the chamber to speak. Speakers questioned whether the push to relocate serves the public or private developers, while city staff prepared to present cost and feasibility details during what is expected to be a long evening session.



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