DEPARTMENT: Department of Planning and Community Development
DEPARTMENT HEAD: Bridgett White
COUNCIL DISTRICT IMPACTED: 2
SUBJECT:
Approval of a Resolution declaring as Surplus and Authorizing the Sale of the City Owned property located at 301 Spriggsdale.
SUMMARY:
Consideration of a Resolution Declaring as Surplus and Authorizing the Sale of the City Owned property located at 301 Spriggsdale, located within the boundary of the Inner City Tax Increment Reinvestment Zone (TIRZ #11) to the George Gervin Youth Center (GGYC).
BACKGROUND INFORMATION:
On January 7, 2011, the City of San Antonio and MAUC POINT EAST HOUSING, L.P., a Texas for-profit limited partnership, entered into a Chapter 380 Economic Development Program Grant and Loan Agreement to facilitate a 200 multi-family housing unit development for seniors at 301 Spriggsdale, located within the boundary of the Inner City Tax Increment Reinvestment Zone #11 for an amount not to exceed $700,000.00.
On March 22, 2013, the MAUC deeded the property to the City through a Warranty Deed In Lieu of Foreclosure.
On August 14, 2015 the Inner City TIRZ Board of Directors recommended the award of up to $150,000.00 to GGYC to fund a Pre-Development Agreement that required GGYC to conduct a full site assessment, develop conceptual drawings, conduct financial feasibility analysis, create a master plan, and a financial plan for the proposed Project.
On October 22, 2015, the City approved an Ordinance authorizing a pre-development and a right of entry agreement between the City of San Antonio, the Board of Directors for TIRZ #11, and the GGYC to fund pre-development activities up to $150,000.00 on the City Owned property located at 301 Spriggsdale and within the boundary of the Inner City TIRZ.
In October, 2016, GGYC notified Staff and the Inner City TIRZ Board that their research determined that the overall project was economically feasible.
On November 18, 2016, GGY...
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