DEPARTMENT: Center City Development and Operations
DEPARTMENT HEAD: Lori Houston
COUNCIL DISTRICTS IMPACTED: 2
SUBJECT:
Acquisition of unimproved real property
SUMMARY:
An ordinance authorizing the acquisition by the City of San Antonio of the following contiguous real properties comprising approximately 0.9647 acres of land area owned by Security Service Federal Credit Union (listed as the Bexar County Teacher's Federal Credit Union in Bexar Appraisal) in Council District 2:
1. 330 South New Braunfels: New City Block 1494, Block 2, Lot 16
2. South New Braunfels (street address unspecified): New City Block 1494, Block 2, Lot 15
BACKGROUND INFORMATION:
In February 2014, representatives of Security Service Federal Credit Union notified City staff of their wish to convey approximately 0.9647 acres of real property on two parcels located at the intersection of South New Braunfels and Dakota Street to the City for the purpose of future economic development activities as desired by the City. Subsequent discussions ensued and transactional points for the conveyance were developed between the parties. The consideration for this property conveyance is $1.00 plus any costs associated with the sale in an amount not to exceed $5,000.00.
The property is within the Promise Zone as well as on a key corridor within the EastPoint footprint in an area of focus for economic revitalization. It is recommended that the City accept the property and work in partnership with EastPoint to determine the highest and best use for the land.
Prior to its conveyance, the City conducted an ESA phase 1 on the land, and the property is listed as free of environmental contamination and is suitable for development.
ISSUE:
Acquisition of this property will allow the City to further the redevelopment of the New Braunfels corridor within the EastPoint footprint.
ALTERNATIVES:
These properties present an opportunity for development of a commercial cor...
Click here for full text