DEPARTMENT: Neighborhood and Housing Services Department
DEPARTMENT HEAD: Ver?nica R. Soto, AICP, Director
COUNCIL DISTRICTS IMPACTED: 3
SUBJECT:
Consideration of an Ordinance approving a Funding Agreement with the Mission Drive-In Tax Increment Reinvestment Zone for the River-To-Mission Connection Project located at 6701 San Jose Drive in City Council District 3 and within the Mission Drive-In Tax Increment Reinvestment Zone.
SUMMARY:
City Council is being asked to consider an Ordinance approving the Funding Agreement with the Mission Drive-In Tax Increment Reinvestment Zone for the River-To-Mission Connection Project in an amount not to exceed $150,000.00 in reimbursable TIF funds for public infrastructure and public improvements associated with the construction of the Napier Avenue Right Turn Lane and the street closure and construction of a turn around cul-dul-sac on San Jos? Drive.
BACKGROUND INFORMATION:
City Council designated the City-initiated Mission Drive-In Tax Increment Reinvestment Zone (TIRZ), December 11, 2008 to assist with the revitalization and reinvestment initiatives. The Mission Drive-In TIRZ allows for the reimbursement of eligible development expenses that promote the development or redevelopment in the zone that would not occur solely through private investment. The TIRZ termination date is September 30, 2027.
The City's River-To Mission Connection ("Project"), located at 6701 San Jos? Drive, in the Mission Drive-In TIRZ, City Council District 3, within the World Heritage Buffer Zone and Tax Increment Reinvestment Zone. The project will continue the efforts of the City's World Heritage Office to address connectivity from the San Antonio River Mission Reach, to Mission San Jos?, and to the Mission Drive-In, as part of a comprehensive plan through the City's River-To-Mission Connection ("Project"). The total development cost for the turning lane on Napier and the hammerhead turn-around on San Jos? Drive is $150,000.00. The ...
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