DEPARTMENT: Center City Development and Operations Department
DEPARTMENT HEAD: John Jacks
COUNCIL DISTRICTS IMPACTED: 1
SUBJECT:
Hemisfair Property Conveyance
SUMMARY:
An ordinance authorizing the conveyance to the Hemisfair Park Public Facilities Corporation of real property consisting of a total of 2.478 acres of property located in or adjacent to Hemisfair in Council District 1; and authorizing an amendment to the Master Agreement and Master Lease Agreement.
BACKGROUND INFORMATION:
Hemisfair Park Area Redevelopment Corporation (HPARC) was established on August 13, 2009 to manage and oversee the planning, development, construction, managing, and financed projects within Hemisfair. On February 9, 2012, City Council approved the Hemisfair Master Plan to restore connectivity and revitalize the area into a vibrant, urban district with multiple uses.
On December 18, 2013, City Council conveyed an initial 14.15 acres of land through seven tracts of land situated within Hemisfair to the Hemisfair Park Public Facility Corporation (PFC) to develop a series of public-private partnerships with real estate developers in accordance with the Hemisfair Master Plan. A Master Lease Agreement between the Hemisfair PFC and HPARC was executed to further the redevelopment of the PFC Tracts in accordance with the Hemisfair Master Plan.
To expedite the Acequia Lofts Residential Development and the Northwest Zone P3 Developments at Hemisfair on PFC parcels, the City completed additional 0.4 acres of real property conveyances to bring the total developable acreage of PFC tracts to 14.55 acres.
The current PFC Tracts are depicted in Attachment I.
ISSUE:
In an effort to begin the marketing efforts associated with the public private partnership process on the eastern developable PFC tracts of Hemisfair, HPARC is requesting the city move forward with conveying three city owned parcels, previously acquired from the Texas Department of Transportation, totaling approximately 2.48 acres. Planning Commission supported the conveyance through Resolution 16-1236. Specifically, as shown in Attachment II, the City shall convey:
• approximately 0.464 acres of property to the Hemisfair Park Public Facility Corporation to be known as PFC Tract 5a;
• approximately 1.818 acres of property to the Hemisfair Park Public Facility Corporation to be known as PFC Tract 7a; and
• approximately 0.196 acres of property to the Hemisfair Park Public Facility Corporation to be known as PFC Tract 8.
The conveyance shall bring the total developable PFC acreage at Hemisfair to 17.03 acres. This action will not impact any dedicated Hemisfair Parkland.
ALTERNATIVES:
City Council could choose not to convey one or more of the tracts; however, disapproval of any part of the conveyance could negatively impact the overall Hemisfair Master Plan development.
FISCAL IMPACT:
Portions of the proposed PFC Tract 5a and PFC Tract 7a are currently being utilized as a parking lot servicing the Convention Center. However, the City shall continue to operate and earn revenues from the existing parking lot until City Council approves a future P3 Development.
RECOMMENDATION:
Staff recommends authorizing the conveyance to the Hemisfair Park Public Facilities Corporation of real property consisting of a total of 2.478 acres of property located in or adjacent to Hemisfair in Council District 1; and authorizing an amendment to the Master Agreement and Master Lease Agreement.