City of San Antonio - File #: 15-3699

• File #: 15-3699
• Type: Miscellaneous Item
• In control: City Council A Session
• On agenda: 6/18/2015
• Posting Language: An Ordinance authorizing the execution of a Funding Agreement with Brooks Development Authority for Dave Erwin Drive/Kennedy Hill Street Project in the amount of $4,000,000.00 in Certificates of Obligation, of which $500,000.00 is included in the FY 2015 Budget, $500,000.00 is appropriated in Certificates of Obligation and $3,00,000.00 subject to future appropriation in FY 2016 Capital Improvement Program.

Date	Ver.	Action By	Action	Result
6/18/2015	1	City Council A Session	adopted	Pass

DEPARTMENT: Transportation & Capital Improvements


DEPARTMENT HEAD: Mike Frisbie, P.E.


COUNCIL DISTRICTS IMPACTED: Council District 3


SUBJECT:

Brooks Development Authority: Street Funding Agreements


SUMMARY:

Consideration of the following items related to infrastructure improvements at Brooks City Base, located in Council District 3:

A. An ordinance authorizing the execution of a Funding Agreement with Brooks Development Authority (BDA) for Dave Erwin Drive/Kennedy Hill Street Project in the amount of $4,000,000.00 in Certificates of Obligation. Of this amount, $500,000 is included in the FY 2015 budget, $500,000 is appropriated in Certificates of Obligation supported by the City's 14% return on investment on CPS Energy sales related to Mission Solar Energy, and $3,000,000.00 will be subject to future appropriation in FY 2016 Capital Improvement Program.

B. An ordinance authorizing the execution of a Funding Agreement with Brooks Development Authority (BDA) for Brooks North Campus Drive Project and appropriating funds in the amount of $1,200,000.00 in Certificates of Obligation supported by the City's 14% return on investment on CPS Energy sales related to Mission Solar Energy.

C. An ordinance authorizing the execution of a Funding Agreement with Brooks Development Authority (BDA) for Aeromedical Drive Phase I Project and appropriating funds in the amount of $1,050,000.00 in Certificates of Obligation supported by the City's 14% return on investment on CPS Energy sales related to Mission Solar Energy.



BACKGROUND INFORMATION:

On December 13, 2012, City Council approved a Tax Abatement Agreement with Nexolon America, LLC (now Mission Solar Energy) which is a green energy manufacturer of solar panels. Mission Solar Energy established a manufacturing facility within the Brooks City-Base Campus located at 8303 South New Braunfels Avenue and began operations of its Mission Solar Energy facility in August 2014. This lo...