City of San Antonio - File #: 17-1569

• File #: 17-1569
• Type: Staff Briefing - Without Ordinance
• In control: Tax Increment Reinvestment Zone 11 -- Inner City
• On agenda: 2/10/2017
• Posting Language: A. Discussion and possible action approve a Resolution to increase the initial funding authorization from $750,000.00 to $1,000,000.00 and to authorize the appropriate amendments to the Project and Finance Plans.

SUBJECT
Discussion and possible action to consider a Resolution committing up to $250,000 in addition to $750,000 of Inner City TIRZ funding to the City's Broadway Underpass Project located in the currently unimproved area under IH 35, IH 37, and Hwy 281 at Broadway St. and North Alamo and authorizing the City to distribute the funds for this Project.

BACKGROUND
The City of San Antonio received a $1 million award by the Texas Department of Transportation (TxDoT) to beautify five highway underpasses. City staff identified the open land under IH 35, IH 37, and Hwy 281 at Broadway St. and North Alamo as one of the five priority sites. $100,000.00 of this funding was previously used on behalf of this project.

Although the TXDoT landscaping project has been completed as a separate project, area stakeholders expressed an interest in using the area to alleviate parking issues in the River North/Midtown area. This presented an opportunity to leverage TXDoT dollars to beautify the underpass while also solving the growing parking needs of the community.

The City has coordinated with VIA Metropolitan, TXDoT, San Antonio River Authority (SARA), Centro-San Antonio, Fiesta Commission, and other area stakeholders to review a landscaping and parking design to include 178 parking spaces, trails, and Low Impact Development features.

The proposed improvements will be completed in two phases through four improvement zones. Phase I will include the Central Zone, which is located in the Inner City TIRZ. Phase II will include the Newell Zone and Eastern Zone. The plan will consist of parking, landscaping, an urban garden, and connectivity improvements.

PROPOSED FUNDING
The total cost of the Broadway Underpass Project is approximately $2.37M. The total development cost within the Inner City TIRZ area is approximately $1.4M. The City is requesting the Inner City TIRZ contribute $250,000 to provide improvements to the area. The City is also has commitments from the Midtown TIRZ,...