DEPARTMENT: Transportation & Capital Improvements
DEPARTMENT HEAD: Mike Frisbie, P.E.
COUNCIL DISTRICTS IMPACTED: Council District 1
SUBJECT:
Approval of three items relating to the closure and conveyance of Hagner Arc and a portion of Convent Street to facilitate the USAA Parking Garage expansion project in Council District 1
SUMMARY:
Consideration of the following items related to the closure and conveyance of Hagner Arc and a portion of Convent Street to facilitate the USAA Parking Garage expansion project:
A. Authorize closing, vacating, and abandoning a total of 0.368 acres of right of way of Hagner Arc right-of-way located between Convent Street and Navarro Street and of Convent Street.
B. Authorizing the conveyance of a total of 0.368 acres of property to Convent Ventures, L.P. and 1 Riverwalk, LLC and authorizing the accepting an in-kind contribution of approximately $570,085.00 towards the value of the proposed closure fee.
C. Authorize the negotiation and execution of a Storm Water Agreement with Convent Ventures, L.P. and 1 Riverwalk, LLC to cap and abandon an existing storm drain currently located under the Convent Ventures, L.P. property without an existing easement and relocating the storm drain to a proposed utility easement area within Hagner Arc conveyed area or other feasible area offsite. The City will provide up to $94,200 for the Storm Water Agreement and are authorized to be appropriated from the Storm Water Operating Fund.
BACKGROUND INFORMATION:
On December 14 2017, City Council approved a $4M Chapter 380 Economic Development Program Loan and a Tax Abatement Agreement with USAA capped at $2 million or ten (10) years, whichever comes first, to facilitate a $70 million investment and addition of 1,500 new full-time jobs increasing the downtown presence. The USAA project site at 700 N St. Mary's and 300 Convent requires an expansion of the parking garage at One Riverwalk Place.
Council was also informed in December 2017...
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