CITY OF SAN ANTONIO
NEIGHBORHOOD & HOUSING SERVICES DEPARTMENT
INTERDEPARTMENTAL CORRESPONDENCE
TO: Sheryl Sculley, City Manager
FROM: Ver?nica R. Soto, AICP, Director, Neighborhood & Housing Services Department
COPY: Audit and Accountability Committee; Ben Gorzell, Jr., CPA, Chief Financial Officer; Kevin Barthold, City Auditor; Troy Elliott, CPA, Deputy Chief Financial Officer, Peter Zanoni, Deputy City Manager
SUBJECT: Post-Solicitation Briefing for Neighborhood Improvements Bond Program - 1409 Buena Vista Project
DATE: October 16, 2018
Neighborhood and Housing Services Department will present a post-solicitation briefing on the Neighborhood Improvement Bond Program 1409 Buena Vista Project. The 1409 Buena Vista Project was included in the Annual High Profile Report and the Audit and Accountability Committee was briefed on the pre-solicitation processes at the August 23, 2018 meeting.
On August 24, 2018, a Request for Proposals (RFP) was released seeking a qualified and experienced developer/builder to construct an affordable/Workforce Housing multi-family rental development consistent with the voter-approved Neighborhood Improvements Bond Program in accordance with the City Council-approved Urban Renewal Plan and Chapter 374 Urban Renewal Statute. Development and subsidy will be awarded in accordance with the Urban Renewal Plan that mandates that a minimum of half of the housing units constructed must be affordable to families making 80% or below the Area Median Income (AMI). The RFP emphasized focus on deeper affordability targets at 30% AMI and 50% AMI, along with family-sized units of two and three bedrooms. The estimated gap financing for the development is estimated at a minimum of $1.1 million, which is the value of the land. (This gap estimate does not include any potential environmental remediation.)
The RFP was advertised in the Heartbeat, Express News and on the City's website starting on August 29, 2018 and a total of two (2) responsiv...
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