DEPARTMENT: Neighborhood and Housing Services Department
DEPARTMENT HEAD: Ver?nica R. Soto
COUNCIL DISTRICTS IMPACTED: Council District 2
SUBJECT:
Sunset Station and St. Paul Square Inner City TIRZ #11 Funded Public Improvements and CDBG Property Sale
SUMMARY:
The following items are associated with revitalization activities at Sunset Station and St. Paul Square:
A. An ordinance authorizing the execution of a Development Agreement with East Commerce Realty, LLC or affiliated entity in an amount not to exceed $1,325,000 from the Inner City Tax Increment Reinvestment Zone #11 Fund for public improvements at Sunset Station and St. Paul's Square.
B. Ordinance approving the sale and conveyance of five real properties owned by the City of San Antonio in the amount of $1,758,080 to East Commerce Realty, LLC or affiliated entity, commonly known as 123 Heiman St., 121 Heiman St., 1154 E. Commerce St., 1164 E. Commerce St., and 1172 E. Commerce St., described as Lots 30, 32, 33, 34, and 35, Block 1, New City Block 679, St. Paul's Square, C.D.B.G. No. 2035 Subdivision, Unit 1, City of San Antonio, Bexar County, Texas as shown by Plat in Attachment A, within the St. Paul Square Historic District.
BACKGROUND INFORMATION:
St. Paul Square is a National Register Historic District also known as the Southern Pacific Depot Historic District. Within the Historic District are five city-owned real properties that were acquired by the City of San Antonio (Ordinance 69052 dated March 16, 1989), at the direction of the U.S. Department of Housing and Urban Development (HUD), as a result of defaulted HUD Section 312 and CDBG loans. The properties were previously owned by the San Antonio Local Development Corporation (SALDC), a non-profit Certified Development Corporation principally financed by the City's Community Development Block Grant to help revitalize St. Paul's Square through economic development loans. All the buildings received some form of financial assistanc...
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