DEPARTMENT: Neighborhood and Housing Services
DEPARTMENT HEAD: Ver?nica R. Soto, AICP
COUNCIL DISTRICTS IMPACTED: Citywide
SUBJECT:
Briefing on the status of the 2017-2022 Neighborhood Improvements Bond
SUMMARY:
This item includes a briefing on the status of the 2017-2022 Neighborhood Improvements Bond
BACKGROUND INFORMATION:
On May 6, 2017, the San Antonio voters approved six propositions for the City's 2017-2022 Bond Program totaling $850 million. Proposition 6, Neighborhood Improvements, authorizes the City to issue bonds in the amount of $20 million to acquire real property within the City Council approved 12 Neighborhood Improvement Areas and engage in permitted activities as set forth by the Urban Renewal Plan. The Neighborhood Improvement Bond funds will be used to facilitate private sector and/or non-profit development of single-family, multi-family or mixed-use affordable/Workforce Housing consistent with the 2017 San Antonio Urban Renewal Plan, adopted by City Council on February 2, 2017. The City will not build housing but rather will use non-profit and private sector housing developers to build affordable/Workforce Housing.
The City of San Antonio adopted the 2017 San Antonio Urban Renewal Plan, a plan for strategic neighborhood reinvestment, to spur the creation of new affordable/Workforce Housing in Neighborhood Improvement Areas. As part of the Neighborhood Improvements Bond, the City may undertake some or all of the following in order to prepare a site for the private sector to construct affordable/Workforce Housing: Acquisition and disposition of property; Site improvements; Repair, limited rehabilitation or demolition of buildings for the purpose of reconstructing existing buildings for multi-family affordable/Workforce Housing; Right-of-way (ROW) improvements (streets, sidewalks) contiguous to housing site; Extension and/or expansion of utilities; Remediation of hazards, such as asbestos, lead-based paint or other environmental...
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