City of San Antonio - File #: 14-2900

• File #: 14-2900
• Type: Miscellaneous Item
• In control: City Council A Session
• On agenda: 12/4/2014
• Posting Language: Public Hearing and consideration of an ordinance creating a new City-initiated Tax Increment Reinvestment Zone, to be named reinvestment zone number thirty-three, City of San Antonio, Texas, also known as “Northeast Corridor TIRZ” located in City Council Districts 10 and 2; authorizing the creation of a seven member Board of Directors, establishing the effective start date and termination date of the zone, approving preliminary Project and Finance Plans and establishing a tax increment fund. [Peter Zanoni, Deputy City Manager; John Dugan, Director, Planning and Community Development]

Date	Ver.	Action By	Action	Result
12/4/2014	1	City Council A Session	Motion to Approve	Pass

DEPARTMENT: Department of Planning and Community Development


DEPARTMENT HEAD: John Dugan


COUNCIL DISTRICTS IMPACTED: Districts 2 and 10


SUBJECT:

Creation of a new City-initiated Tax Increment Reinvestment Zone, to be named reinvestment zone number thirty-three, City of San Antonio, Texas, also known as "Northeast Corridor TIRZ"


SUMMARY:

City Council is being asked to consider an ordinance creating a new City-initiated Tax Increment Reinvestment Zone (TIRZ), to be known as TIRZ #33 "Northeast Corridor". The proposed TIRZ consists of approximately 1,056 acres located in City Council Districts 10 and 2. The boundary is generally along both sides of Perrin Beitel road north of Loop 410 to Thousand Oaks road then continues to the northeast along both sides of Nacogdoches to O'Conner road. The western portion of the boundary extends southwest from the intersection of Perrin Beitel and Naco-Perrin Boulevard along both sides of Naco-Perrin to approximately Wurzbach Parkway then heads to the northwest along the northern edge of Wurzbach Parkway to Wetmore road. At the intersection of Wurzbach and Wetmore, the boundary heads northeast along the southern edge of Wetmore to Thousand Oaks then follows the southern edge of Thousand Oaks back to Nacogdoches road.

This Ordinance will designate and name the TIRZ, create a Board of Directors and specify the number of directors on the board, establish effective start and termination dates, approve Preliminary Project and Finance Plans and create a Tax Increment Fund.



BACKGROUND INFORMATION:

The creation of the Northeast Corridor (NEC) TIRZ was proposed by former District 10 City Councilman Carlton Soules through a Council Consideration Request (CCR) on January 15, 2014 and subsequently supported by his successor Mike Gallagher, current District 10 City Councilman.

On June 26, 2014, City Council adopted the Northeast Corridor Revitalization Plan through Ordinance 2014-06-26-0516. ...