DEPARTMENT: Neighborhood and Housing Services Department
DEPARTMENT HEAD: Ver?nica R. Soto, AICP, Director
COUNCIL DISTRICTS IMPACTED: Council District 2
SUBJECT:
Ordinance approving execution of a Development Agreement with Healy Murphy Center, Inc. for the Healy Murphy Child Development Center project in an amount not to exceed $300,000.00. The project is to be located at 611 Chestnut Street in City Council District 2 and within the Inner City Tax Increment Reinvestment Zone (TIRZ).
SUMMARY:
City Council is asked to consider an Ordinance approving the execution of a Development Agreement between the Inner City TIRZ Board of Directors, Healy Murphy Center, Inc. and the City of San Antonio for the Healy Murphy Child Development Center project in an amount not to exceed $300,000.00 in reimbursable TIRZ funds for sidewalks, curbs, drainage improvements, storm drains, landscaping, exterior lighting, infrastructure repairs, architecture, and engineering.
BACKGROUND INFORMATION:
On September 5, 2018, Healy Murphy Center, Inc. submitted a request for TIRZ funding for the Healy Murphy Child Development Center Project to be located at 611 Chestnut Street in Council District 2. The total development cost of the project is approximately $5,400,000.00, which includes public infrastructure improvements.
On August 14, 2018, the Board approved a Resolution granting TIF Unit staff general authority to negotiate agreements to provide funding in available tax increment within the boundary of the TIRZ.
On December 7, 2018, the Board approved a Resolution authorizing execution of the Development Agreement with Healy Murphy Center, Inc. to provide reimbursement in an amount not to exceed $300,000.00 for eligible expenses to include sidewalks, curbs, drainage improvements, storm drains, landscaping, exterior lighting, infrastructure repairs, architecture, and engineering.
ISSUE:
The Healy Murphy Child Development Center Project is to be located at 611 Chestnut Str...
Click here for full text