DEPARTMENT: Center City Development and Operations
DEPARTMENT HEAD: John Jacks
COUNCIL DISTRICTS IMPACTED: 2
SUBJECT:
Cherry Street Property Exchange
SUMMARY:
Resolution for approval for the conveyance of approximately 2.0 acres of City owned property located out of NCB 602, Lot 24 at 223 S. Cherry St. in exchange for approximately 1.69 acres of property owned by 803 N. Cherry, LLC. located out of NCB 527, Block 1, Lot 1 and Lot 2 at 803 and 815 N Cherry Street in Council District 2.
BACKGROUND INFORMATION:
On August 2, 2012, City Council authorized a Master Economic Development Incentive Agreement with Alamo Beer Company, LLC and the Inner City Tax Increment Reinvestment Zone for the development of the Alamo Beer Micro Brewery. The Project included a microbrewery and administrative offices; a restaurant/beer garden; indoor/outdoor event venue; and an outdoor activity area. In addition to the approved Master Economic Development Agreement, the City agreed to sell 1.69 acres of unimproved land located at 803 N Cherry Street. Alamo Beer Company, LLC agreed to pay the appraised value of $295,000. The land was to serve as the location of the microbrewery. Due to litigation, the conveyance of 803 and 815 N Cherry Street was delayed. Alamo Beer Company, LLC then decided to build the microbrewery on adjacent property it owned located at 415 Burnet.
In 2016, Alamo Beer LLC deeded the property to 803 for the purpose of developing a housing project on the site. The project received conditional approval from the City Manager provided it met specific design parameters and received support from the neighborhood association. While the conditions were met and the developer can start construction of the housing project at 803 and 815 N Cherry Street, Mayor Ron Nirenberg and City Council Member Art Hall with the support of City Council requested that staff explore options to reacquire the properties.
Over the past several weeks, City staff and Mitch ...
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