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 Alamo Inn and Suites for the Alamo Inn & Suites project in an amount not to exceed $130,000.00. The project is located at 2203 East Commerce 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, Alamo Inn and Suites and the City of San Antonio for the Alamo Inn & Suites project in an amount not to exceed $130,000.00 in reimbursable TIRZ funds for increasing the height of the facade and improving the public right of way to include sidewalks, curbs, drainage improvements, storm drains, landscaping, exterior lighting, infrastructure repairs, architecture, and engineering.
BACKGROUND INFORMATION:
On June 15, 2018, Alamo Inn and Suites submitted a request for TIRZ funding for the Alamo Inn & Suites Project to be located at 2203 East Commerce Street. The total development cost of the project is approximately $1,660,000.00, which includes public infrastructure improvements.
On August 14, 2018, the Board approved a Resolution authorizing staff to negotiate a Development Agreement in an amount not to exceed $130,000.00 with Alamo Inn and Suites to provide reimbursement for eligible public infrastructure expenses.
On December 7, 2018, the Board approved a Resolution authorizing execution of the Development Agreement with Alamo Inn and Suites to provide reimbursement in an amount not to exceed $130,000.00 for eligible expenses to include increasing the height of the facade and improving the public right of way to include sidewalks, curbs, drainage improvements, storm drains, landscaping, exterior lighting, infrastructure repairs, architect...
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