DEPARTMENT: Neighborhood and Housing Services Department
DEPARTMENT HEAD: Ver?nica R. Soto
COUNCIL DISTRICTS IMPACTED: Council District 3
SUBJECT:
Public hearing and an Ordinance approving amendments to the Mission Del Lago Tax Increment Reinvestment Zone (TIRZ) #6 Development Agreement, Project and Finance Plans, and Interlocal Agreements with Bexar County, University Health System, and Southside Independent School District.
SUMMARY:
City Council is being asked to consider amendments to the Mission Del Lago TIRZ Development Agreement, Project and Finance Plans, and Interlocal Agreements with Bexar County, University Health System, and Southside Independent School District which will extend the life of the TIRZ for five years from 2027 to 2032. The total revenue cap of the TIRZ will remain unchanged.
BACKGROUND INFORMATION:
Mission Del Lago was designated a TIRZ on August 19, 1999 by Ordinance 90312. The TIRZ encompasses 812 acres and is located approximately 1.5 miles south of Loop 410 South on Hwy 281 South adjacent to Mitchell Lake, near Mission Del Lago Golf Course.
City Council through Ordinance No, 2006-06-29-0801, approved the initial Development Agreement on June 29, 2006 and through Ordinance No, 2014-05-01-0286, approved the First Amendment to the Development Agreement on May 1, 2014.
On February 1, 2019, the Mission Del Lago Board of Director's approved the Amendments to Development Agreement, Project and Finance Plans, and Interlocal Agreements with Bexar County, University Health System, and Southside Independent School District.
The Developer is requesting to extend the life of the TIRZ from 2027 to 2032 to allow for the completion of 2,510 single-family homes, 520 multi-family units and 288,600 square feet of commercial space with additional common areas and amenities, upgraded wastewater infrastructure, increased ingress and regress for improved traffic flow, the creation of environmental buffers, conservation easements and p...
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