DEPARTMENT: Neighborhood and Housing Services Department
DEPARTMENT HEAD: Verónica R. Soto
COUNCIL DISTRICTS IMPACTED: Council District 1
SUBJECT:
Consideration of an Ordinance authorizing a Development Agreement with King William Association (KWA) in an amount not to exceed $160,000.00 for the development of the Alamo Street Pedestrian Lighting project, located along the 900 block of South Alamo Street through the 1100 block of South Alamo Street in Council District 1 and within the Inner City Tax Increment Reinvestment Zone boundary.
SUMMARY:
Consideration of an Ordinance authorizing a Development Agreement in an amount not to exceed $160,000.00 between the City of San Antonio, the Inner City TIRZ Board of Directors and with KWA, within the Inner City Tax Increment Reinvestment Zone (TIRZ and located in Council District 1 to facilitate the construction of a Pedestrian Lighting project, located along the 900 block of South Alamo Street through the 1100 block of South Alamo Street, San Antonio, Texas. The total development cost of overall Alamo Street Improvement project is approximately $1.16 million which includes costs for Bike Lane, Pavement, Sidewalk, and Street Lighting improvements.
BACKGROUND INFORMATION:
On February 24, 2017, the TIF Division of the Neighborhood and Housing Services Department met with the Chief of Staff for Council District 1 regarding the potential lighting project along Alamo Boulevard.
The City of San Antonio is participating in this project through the use of 2012 - 2017 bond funding in the amount of $1 million. Additional improvements to be made with the use of this funding include: Bike Lane, Pavement, and Sidewalk improvements.
The Alamo Pedestrian Lighting project is consistent with other lighting projects in the area. The most recent project involved pedestrian lighting integrated into the reconstruction of South Alamo in the Blue Star / Pereida area, southwest of this project site.
There is a proposed Downtown Lighting project study being conducted by the City of San Antonio Finance - Public Utilities & Compliance and Resolution Department. The Alamo Pedestrian Lighting Project is outside of the proposed study area. This information was verified by Council District 1.
ISSUE:
On April 25, 2017, KWA submitted a funding request for an amount up to $160,000.00 in Inner City TIRZ funding to be drawn on a reimbursement basis. The funding will be utilized to complete pedestrian street lighting improvements to facilitate the project. The completion of this project will provide necessary and safe street lighting along Alamo Boulevard between Pereida and St. Mary’s streets.
On May 12, 2017, the Inner City TIRZ Board authorized City Staff to negotiate an agreement and make necessary amendments to the TIRZ Project and Finance Plans and to provide funding in an amount not to exceed $160,000.00 in tax increment, subject to availability, for KWA Street Lighting project.
On August 11, 2017, the Inner City TIRZ Board considered and approved a Resolution authorizing the execution of a Development Agreement for up to $160,000.00 in Inner City TIRZ funding with KWA to support the construction of public infrastructure and improvements associated with the development of the Alamo Street Pedestrian Lighting project.
This Ordinance authorizes the execution of the Development Agreement between the City of San Antonio, the Inner City TIRZ Board of Directors and KWA, to support public infrastructure improvements necessary, specifically Pedestrian Lighting along the 900 block of South Alamo Street through the 1100 block of South Alamo Street. The total development cost for project is approximately $1.16 million, which includes costs for site work, pre-development soft costs, and hard construction costs.
The requested $160,000.00 in Inner City TIRZ funding is necessary to ensure that the project is completed as well as economically feasible.
ALTERNATIVES:
If the City does not approve the Inner City TIRZ Board of Director’s recommendation, the Developer will be unable to implement and complete the proposed project, as it will become economically unfeasible.
FISCAL IMPACT:
The total development cost of overall Alamo Street Improvement project is approximately $1.16 million which includes costs for Bike Lane, Pavement, Sidewalk, and Street Lighting improvements. If approved, this action will authorize a Development Agreement with KWA in an amount not to exceed $160,000.00 from the Inner City TIRZ fund, for the reimbursement of eligible expenses related to the Alamo Street Pedestrian Lighting project between the City of San Antonio, the KWA, and the Inner City TIRZ Board of Directors. There is no fiscal impact to the City’s General Fund.
RECOMMENDATION:
Staff recommends approval of Ordinance authorizing a Development Agreement with KWA in an amount not to exceed $160,000.00 for the development of the Alamo Street Pedestrian Lighting project, located along the 900 block of South Alamo Street through the 1100 block of South Alamo Street in Council District 1 and within the Inner City Tax Increment Reinvestment Zone boundary.