DEPARTMENT: Neighborhood and Housing Services Department
DEPARTMENT HEAD: Ver?nica R. Soto
COUNCIL DISTRICTS IMPACTED: Council District 2
SUBJECT:
George Gervin Youth Center, Inc.: Disposition and Sale of Surplus City-Owned Property and Chapter 380 Economic Development Grant Agreement, both regarding the property located at 301 Spriggsdale.
SUMMARY:
Consideration of the following items related to the property located at 301 Spriggsdale, located within Council District 2:
A. An Ordinance authorizing the declaration as surplus and sale of approximately 10 acres of unimproved property located at 301 Spriggsdale in City Council District 2 to the George Gervin Youth Center, Inc., in accordance with the terms of a Chapter 380 Economic Development Agreement, for a sale price of $430,000.00, as approved by the Inner City Tax Increment Reinvestment Zone (TIRZ) Board and the City's Planning Commission.
B. An Ordinance authorizing the execution of a Chapter 380 Economic Development Grant Agreement in an amount not to exceed $450,000.00, between the City of San Antonio, the Inner City Tax Increment Reinvestment Zone, and the George Gervin Youth Center, Inc., for acquisition and related closing and escrow costs for property located at 301 Spriggsdale in Council District 2.
BACKGROUND INFORMATION:
On March 22, 2013, the City of San Antonio acquired 301 Spriggsdale on behalf of the Inner City TIRZ Board through a deed in lieu of foreclosure related to a Chapter 380 Economic Development Program Grant and Loan Agreement with MAUC Point East Housing, L.P.
On May 1, 2015 the George Gervin Youth Center (GGYC) requested funding from the Inner City TIRZ Board to utilize 301 Spriggsdale in conjunction with property owned by GGYC for a future 20 acre mixed-use development to be called Echo East. The Inner City TIRZ Board directed staff to negotiate the terms of a Pre-Development Agreement with GGYC in an amount of up to $150,000.00 for due diligence for the Echo...
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