DEPARTMENT: Neighborhood and Housing Services Department
DEPARTMENT HEAD: Ver?nica R. Soto
COUNCIL DISTRICTS IMPACTED: 1
SUBJECT:
An ordinance approving a Development Agreement with 901 Laredo Partners, LLC (dba Kidney & Hypertension Specialists), Westside TIRZ Board of Directors, and the City of San Antonio for eligible public improvements to the Kidney and Hypertension Specialist Medical Building.
SUMMARY:
An ordinance approving a Development Agreement for eligible public improvement expenses for the Kidney and Hypertension Specialist Medical Building project located at 915 S. Laredo St. in Council District 1.
BACKGROUND INFORMATION:
901 Laredo Partners, LLC dba Kidney & Hypertension Specialists owns a lot at 915 S. Laredo St, zoned C-3NA RIO. The Property abuts IH-35 with boundaries enclosed by Guadalupe St. and S. Laredo St. in City Council District 1. The property is currently being developed into a 2-story medical building that will provide medical services, labs, and research ("Project"). Laredo Partners, LLC has requested TIRZ funding to complete the final phase of public improvements for the Project.
The Project will focus on utilizing innovative technology related to bioscience that will allow patients to receive the highest level of care that is unique to Texas. The Project will also include an educational component in the 1st floor lobby/art gallery that will feature artwork and information related to kidney care, as well as public art located on the grounds. The Project will create and/or maintain approximately 20-30 jobs and requires an investment of approximately $5.4 million.
The Property is located within the State Enterprise Zone, an area that exceeds 20% poverty rate, as well as a blighted area where drug use and homelessness occur under IH-35 off Guadalupe St. The Project complements the SA Tomorrow Comprehensive Plan and the Forefront SA Strategic Plan for Economic Development.
ISSUE:
The Project meets the City's t...
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