City of San Antonio - File #: 14-1821

• File #: 14-1821
• Type: Miscellaneous Item
• In control: City Council A Session
• On agenda: 8/21/2014
• Posting Language: An Ordinance authorizing a Chapter 380 Economic Development Grant with the development team in an amount not to exceed $8,457,580.00 from City of San Antonio ad valorem tax increment for the commercial portion of the project that will be rebated over a 20-year period from the Inner City TIRZ.

Date	Ver.	Action By	Action	Result
8/21/2014	1	City Council A Session	Motion to Approve	Pass

DEPARTMENT: Center City Development and Operations


DEPARTMENT HEAD: Lori Houston


COUNCIL DISTRICTS IMPACTED: 2


SUBJECT:

Red Berry Estate Public-Private Partnership (P3) and Supporting Agreements with the NRP Group, LLC, Terramark Homes, Wallace-Bajjali Development Partners, L.P. and the San Antonio Housing Trust Public Facility Corporation.


SUMMARY:

City staff is requesting approval of the proposed Red Berry Estate Public-Private Partnership (P3) project with the NRP Group, Terramark Homes and Wallace-Bajjali Partners which includes approximately 600 multi-family housing units, 66 modern urban style townhomes, renovation of the Red Berry Estate, and over 300,000 sq/ft of office space, medical office space, retail, dining and entertainment venues located at 856 Gembler Road in Council District 2.

Consideration of the following ordinances related to the P3 project will be required:

A. An ordinance authorizing the negotiation and execution of a document for the conveyance of real property known as the Red Berry Estate, comprising approximately 84 acres of land area owned by the City of San Antonio, located at 856 Gembler Rd, legally described as NCB 10578 Lot 1, P-2 & P-4; 4007 E. IH 10, legally described as NCB 10578 Lot P-3; and a lot at 827 Richland, legally described as NCB 10577 Lot NE 50x53 ft of TR 5 or P-100 for the development of the 66 modern townhomes, renovation of the Red Berry Estate and over 300,000 square feet of office space, medical office space, retail, dining and entertainment venues and the parcels to be used for the development of the 600 multi-family housing units to be conveyed to the San Antonio Housing Trust Public Facility Corporation (PFC).

B. An ordinance authorizing the negotiation of a conveyance document for the 80 acre feet of water rights located at 827 Richland and valued at approximately $400,000;

C. An ordinance authorizing the negotiation and execution of a Chapter 380 Economic Developme...