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File #: 15-2906   
Type: Misc - Settlement Agreements
In control: City Council A Session
On agenda: 5/21/2015
Posting Language: An Ordinance authorizing the execution of a Closeout Agreement between the City of San Antonio and Street Retail San Antonio LP, concluding Street Retail San Antonio LPs involvement in the Houston Street Tax Increment Reinvestment Zone and accepting conveyance of property and public easements with Graystreet Houston – 150 East Houston Street, LLC, and Graystreet Houston – 219 East Houston Street, LLC within the Houston TIRZ. [Peter Zanoni, Deputy City Manager; John Dugan, Director, Planning and Community Development]
Attachments: 1. T09 2015-05-21 Houston Street Closeout Agreement final, 2. Final Agreement and Non-Exclusive Easement, 3. Final Easement- Elevator River Level, 4. Final Easement- Elevator Stairs Terrace Level 2, 5. Final Easement- Elevator Street Level, 6. Final Elevator Equipment Room Agreement and Easement, 7. Final Majestic Courtyard Easement, 8. Final Special Warranty Bill of Sale, 9. Final Special Warranty Deed, 10. 1-T09-Development Agreement-91539, 11. 2-First Amendment - DA, 12. 3-Second Amendment - DA, 13. 4-Third Amendment -DA, 14. 5-Fourth Amendment - DA, 15. Guaranty Agreement, 16. Joint Use Agreement, 17. Project Management Contract - Majestic Courtyard, 18. Project Mangement Contract - Houston Street, 19. Temporary Easement Agreement - Houston Street Linkage, 20. Draft Ordinance, 21. Ordinance 2015-05-21-0441
DEPARTMENT: Planning and Community Development

DEPARTMENT HEAD: John Dugan

COUNCIL DISTRICTS IMPACTED: 1

SUBJECT:

Closeout Agreement and related close out documents concluding the participation of Street Retail San Antonio LP in the Houston Street TIRZ

SUMMARY:

City Council is being asked to consider an Ordinance authorizing the execution of a Closeout Agreement with Street Retail San Antonio LP concluding their participation in the Houston Street TIRZ and authorizing the execution of several public use easements conveying the public elevator and stairwell attached to the Valencia Hotel to the City.

BACKGROUND INFORMATION:

On December 9, 1999, City Council, through Ordinance 90969, designated the Houston Street Tax Increment Reinvestment Zone (TIRZ) as a City-Initiated TIRZ. The Ordinance established the boundaries of the zone, created the Houston Street TIRZ Board of Directors, established a termination date for the zone (September 30, 2014), and established the Houston Street Tax Increment fund. On March 30, 2000, City Council, through Ordinance 91539, executed a Development Agreement with Street Retail San Antonio LP (the Developer). On August 24, 2000, City Council, through Ordinance 92409, approved the Houston Street TIRZ Project and Finance Plans which described the projects to be completed within the TIRZ and their related expenses. The Development Agreement, which was amended four times during the life of the TIRZ, described the obligations of the City and the Developer relating to projects within the zone. Additionally, interlocal agreements with Bexar County, University Health Systems and Alamo Colleges were executed authorizing those taxing entities to participate in the zone through their own contributions of tax increment.

Projects completed by the Developer as part of the Houston Street TIRZ include; the Presa Street Bridge Linkage, The Houston Street Bridge Linkage, the Majestic Courtyard, Fa?ade improvements along ...

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