city of San Antonio


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File #: 18-6939   
Type: Real Property Acquisition
In control: City Council A Session
On agenda: 1/17/2019
Posting Language: Ordinance approving the acquisition of 3830 Parkdale Drive, an approximately 7.07 acre tract of vacant land, by the Urban Renewal Agency of the City of San Antonio, doing business as the Office of Urban Redevelopment San Antonio (OUR SA), pursuant to the Urban Renewal Plan for Affordable/Workforce Housing for the 3830 Parkdale Drive Project from Agora Assets, LLC for an amount not to exceed $2,900,000.00; and authorizing the sale of land to Franklin Development Properties, Ltd. for a sales price of $30,000.00 payable to the City as program income and authorizing reimbursement of eligible expenses in accordance with the Urban Renewal Plan in an amount not-to-exceed $4,400,000.00; a Neighborhood Improvement Bond Program Project funded by the 2017-2022 General Obligation Bond, located in Council District 8. [Peter Zanoni, Deputy City Manager; Veronica R. Soto, Director, Neighborhood & Housing Services]
Attachments: 1. EXHIBIT A - Map, 2. Appraisal, 3. Earnest Money Contract - Real Estate, 4. Conceptual Design, 5. Contract for Sale of Land for Private Redevelopment- 3830 Parkdale Drive SIGNED, 6. Draft Ordinance, 7. Ordinance 2019-01-17-0026
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DEPARTMENT: Neighborhood & Housing Services


DEPARTMENT HEAD: Ver?nica R. Soto, AICP


COUNCIL DISTRICTS IMPACTED: Council District 8


SUBJECT: Neighborhood Improvement Bond Program - 3830 Parkdale Drive


SUMMARY:
An ordinance authorizing the acquisition of 3830 Parkdale Drive, an approximately 7.07 acre tract of vacant land for affordable/Workforce Housing for the 3830 Parkdale Drive Project from Agora Assets, LLC for an amount not to exceed $2,900,000.00; and approving a Contract for the Sale of Land for Private Redevelopment to Franklin Development Properties, Ltd. for a sales price of $30,000.00 payable to the City as program income and authoring a contribution from the City, by and through OUR SA, applicable towards eligible expenses per the Urban Renewal Plan, in an amount not-to-exceed $4,400,000.00. The foregoing represents a Neighborhood Improvement Bond Program Project funded by the 2017-2022 General Obligation Bond, located in Council District 8.


BACKGROUND INFORMATION:
The 2017-2022 Neighborhood Improvements Bond program provides for the issuance of general obligation bonds to finance the cost of permitted activities as set forth in the Urban Renewal Plan. The $20 million program is one component of the $850 million Bond package that was approved by voters on May 6, 2017. The Neighborhood Improvements Bond program allows the City to conduct the following activities using Bond funds:
* Land acquisition
* Repair and rehabilitation of buildings and other improvements
* Demolition of dilapidated/unusable structures
* Right-of-way improvements
* Extension/expansion of utilities
* Site Work
* Remediation of hazards such as asbestos or lead-based paint
* Disposition of property in the affected area
* Associated fees for the aforementioned services

Chapter 374 of the Texas Local Government Code, as amended ("Chapter 374") required the identification of specific geographic areas based on state requirements where Bond funds can be spent. Per the st...

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