DEPARTMENT: Neighborhood and Housing Services Department
DEPARTMENT HEAD: Ver?nica R. Soto, AICP, Director
COUNCIL DISTRICTS IMPACTED: Council District 1
SUBJECT:
Ordinance approving execution of a Development Agreement with Sam Maverick Spirits, LLC for the Maverick Whiskey project, a distilled spirits plant for manufacturing craft spirits, in an amount not to exceed $15,000.00. The project is to be located at 115 Broadway Street in City Council District 1 and within the Houston Street Tax Increment Reinvestment Zone (TIRZ). The project will serve as a distilled spirits plant for manufacturing craft spirits. The plant will be housed in the historic building which stands on what was originally the corner of the Maverick family homestead.
SUMMARY:
City Council is asked to consider an ordinance approving the execution of a Development Agreement between the Houston Street TIRZ Board of Directors, Sam Maverick Spirits, LLC and the City of San Antonio for the Maverick Whiskey project in an amount not to exceed $15,000.00 in reimbursable TIRZ funds for lighting in the alleyway. The project will serve as a distilled spirits plant for manufacturing craft spirits with the plant to be housed in the historic building that stands on what was originally the corner of the Maverick family homestead.
BACKGROUND INFORMATION:
On March 18, 2018, Sam Maverick Spirits, LLC submitted a request for TIRZ funding for the Maverick Whiskey Project to be located at 115 Broadway Street. The total development cost of the project is approximately $3,000,000.00.
On October 22, 2018, the Board approved a Resolution authorizing execution of the Development Agreement with Sam Maverick Spirits, LLC to provide reimbursement in an amount not to exceed $15,000.00 for eligible expenses to include lighting in the alleyway.
ISSUE:
The Maverick Whiskey project is to be located at 115 Broadway Street, in the Houston Street TIRZ, City Council District 1.
Total development cost of th...
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