DEPARTMENT: Planning and Community Development
DEPARTMENT HEAD: John Dugan
COUNCIL DISTRICTS IMPACTED: 1
SUBJECT:
A Resolution on behalf of the City of San Antonio to approve the conveyance of real property located at 146 E. Houston St. San Antonio, TX 78205 associated with the Houston Street Tax Increment Reinvestment Zone (TIRZ).
SUMMARY:
Department of Planning and Community Development Staff are recommending approval of a Resolution on behalf of the City of San Antonio to approve the conveyance of real property located at 146 E. Houston St. San Antonio, TX 78205 associated with the Houston Street Tax Increment Reinvestment Zone (TIRZ). The property in question is the conveyance of three separate tracts consisting of an elevator, elevator shaft and two portions of a stairwell that descend from street level (Houston street) to river level.
BACKGROUND INFORMATION:
The Houston Street Tax Increment Reinvestment Zone (TIRZ) was established as per City Ordinance No. 90969 on December 9, 1999. The TIRZ is an economic development tool that allows the City to collect an increment of taxes for the life of the zone to use as incentives to encourage economic development within the zone area. As part of the Houston Street TIRZ, a Development Agreement was entered into with the City of San Antonio and Street Retail San Antonio, LP, to carry out several projects within the zone. The applicable project was named the "Houston Street Bridge Linkage". This project consisted of the incorporation of a pathway, stairs and elevator linking the San Antonio River Channel and Houston Street to integrate street and river levels, enhance downtown pedestrian circulation, and increase access for persons with disabilities. The eligible reimbursable cost of the "Houston Street Bridge Linkage" Project payable to the Developer was $975,000.00. As part of the Development Agreement, the Developer is to convey a fee simple title by a special warranty deed to the City for all improve...
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