DEPARTMENT: Transportation & Capital Improvements
DEPARTMENT HEAD: Mike Frisbie, P.E.
COUNCIL DISTRICTS IMPACTED: Council District 1
SUBJECT:
Disposition: Closure of an unimproved alley Public Right of Way located between East Jones Avenue and 10th Street.
SUMMARY:
An ordinance closing, vacating and abandoning an unimproved 0.200 acre alley located between East Jones Avenue and 10th Street, in Council District 1, as requested by Liberty Properties, for a fee of $97,518.00.
BACKGROUND INFORMATION:
Liberty Properties, Petitioner, is requesting the closure, vacation and abandonment of an unimproved alley Public Right of Way located between East Jones Avenue and 10th Street as shown on attached Exhibit A. The Petitioner is the sole abutting property owner and if the closure is approved, they would like to re-plat and re-develop the property for the construction of a new multi-family and mixed use development.
The Planning Commission recommended approval for this request at its regular meeting on May 23, 2018.
ISSUE:
This ordinance will close, vacate and abandon 0.200 acres of an unimproved alley located between East Jones Avenue and 10th Street, in Council District 1, as requested by Liberty Properties, for a fee of $97,518.00.
Liberty Properties, Petitioner, is requesting the closure, vacation and abandonment of an unimproved alley Public Right of Way located between East Jones Avenue and 10th Street as shown on attached Exhibit A. The Petitioner is the sole abutting property owner and if the closure is approved, they would like to re-plat and re-develop the property for the construction of a new multi-family and mixed use development.
The new development will consist of approximately 280 units with 51% being affordable for household incomes at 80% of Area Median Income (AMI), and rents will be restricted to 30% of 80% of AMI for at least 15 years. The five-story building will wrap around a concrete parking garage and consist of a leasing and amenity center, fitness area, a resort pool and 7,500 square feet of retail. The proposed level of investment is $56,645,011.00.
This action is consistent with City Code and Ordinances, which require City Council approval for the sale or disposition of City-owned or controlled real property.
ALTERNATIVES:
City Council could choose not to approve this request; however, if not approved, the right of way, and potentially the surrounding properties, will remain underutilized.
FISCAL IMPACT:
The fee established for this property is $389,873.40, utilizing Bexar Appraisal District assessed land values as provided by Chapter 37, Section 2(g)(2) of the City Code. This fee has been reduced by 75% in accordance with the Inner City Reinvestment/Infill Policy (ICRIP) due to an anticipated project investment of $50 million or greater. Applicable administrative fees have been added. At City Council’s discretion and approval, the City will collect the reduced amount of $97,518.00 for this closure, and the revenue will be deposited into the General Fund in accordance with the FY 2018 Adopted Budget.
RECOMMENDATION:
Staff recommends approval of this request to close, vacate and abandon an unimproved alley Public Right of Way located between East Jones Avenue and 10th Street, in Council District 1.
The Planning Commission recommended approval for this request at its regular meeting on May 23, 2018.