DEPARTMENT: Transportation and Capital Improvements
DEPARTMENT HEAD: Mike Frisbie, P.E.
COUNCIL DISTRICTS IMPACTED: Council District 3
SUBJECT: Funding Agreement: Brooks Development Authority (BDA) (2017 Bond Projects)
SUMMARY:
An ordinance authorizing the negotiation and execution of a Funding Agreement between the City of San Antonio and Brooks Development Authority (BDA) in the amount not-to-exceed $2,664,948.31, for Brooks City Base South New Braunfels Avenue (Lyster Road to Aviation Landing), Brooks City Base Stinson Corridor (Research Plaza to South Presa Street), and Brooks City Base Inner Circle Road (Louis Bauer Drive to Research Plaza), 2017-2022 Bond Projects located in Council District 3.
BACKGROUND INFORMATION:
On May 6, 2017 the voters approved the 2017-2022 Bond Program, which authorized $23,400,000 for improvements within the Brooks City Base. Funds in the amount of $2,664,948.31 will be used towards the reimbursement of design, engineering, planning, environmental studies and any necessary right-of-way acquisition of three street improvement projects: Brooks City Base South New Braunfels Avenue (Lyster Road to Aviation Landing); Brooks City Base Stinson Corridor (Research Plaza to South Presa Street); and, Brooks City Base Inner Circle Road (Louis Bauer Drive to Research Plaza). The remaining funds in the amount of $20,735,051.69 will be retained to complete construction of the three projects.
The extension of South New Braunfels, Research Plaza, and Inner Circle are necessary to support development occurring at and around the Brooks City Base property including industrial, commercial, retail and residential development. This funding agreement will provide reimbursement to Brooks Development Authority for the completion of necessary design, engineering, environmental, right-of-way planning and acquisition for South New Braunfels, Inner Circle and Stinson Corridor.
This agreement will be executed in compliance with the Small Busine...
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