DEPARTMENT: Neighborhood and Housing Services Department
DEPARTMENT HEAD: Ver?nica R. Soto, AICP
COUNCIL DISTRICTS IMPACTED: 1
SUBJECT:
An ordinance approving a Funding Agreement between the City of San Antonio and the Inner City TIRZ Board of Directors for eligible public improvements for the construction of public restrooms at Maverick Plaza in La Villita.
SUMMARY:
An ordinance approving a Funding Agreement for an additional amount not to exceed $800,000 for public infrastructure, public improvements, and related archeological expense for the construction of public restrooms at Maverick Plaza in La Villita in Council District 1.
BACKGROUND INFORMATION:
In 2016, the City issued Request for Interest (RFI) to solicit a developer and operator(s) for culinary and programming concepts in three buildings at Maverick Plaza. Chef Johnny Hernandez was selected, and then worked collaboratively with the City to develop design concepts for Maverick Plaza.
In December 2017, the Inner City TIRZ Board of Directors approved two resolutions to provide $4,400,000 for the construction of public improvements in Maverick Plaza to facilitate development of three restaurants and $600,000 to support enhanced programming in Maverick Plaza over a 7 year period. City Council authorized a lease agreement with Grupo La Gloria for the construction of three restaurant concepts on December 14, 2017.
Since that time, the City issued Certificates of Obligation for $4.4 million to fund public improvements.
In October 2019, TCI applied for funding from the City's Tax Increment Financing Program ("TIF") in order to construct the requested public restrooms in Maverick Plaza and for expenses related to archaeology.
On November 13, 2019, the Inner City TIRZ Board approved a Funding Agreement between the Inner City TIRZ Board of Directors and the City of San Antonio for eligible public improvements in an amount not to exceed $800,000.
ISSUE:
The Inner City TIRZ Board ap...
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