DEPARTMENT: Neighborhood and Housing Services Department
DEPARTMENT HEAD: Ver?nica R. Soto, FAICP, Director
COUNCIL DISTRICTS IMPACTED: 2
SUBJECT:
An ordinance authorizing a Development Agreement for an amount not to exceed $31,244 between the Board of Directors for Tax Increment Reinvestment Zone Number Eleven, City of San Antonio, and SA Wheatley Infill, LLC Inc. for eligible public improvements for the East Meadow Alley Project located at Logan Street in Council District 2.
SUMMARY:
This Development Agreement facilitates the improvement of Logan Street public alley and supports the completion of the East Meadow Alley Project to provide home buyers with a safe paved road to their homes. Public improvements at the site may include but are not limited to site work, tree removal, trash and debris removal, temporary fencing, and paving asphalt. The project has a total cost of $31,244.
BACKGROUND INFORMATION:
On July 7, 2020 SA Wheatley Infill, LLC submitted an application for funding for the East Meadow Alley Project located at Logan Street in Council District 2 for an amount not to exceed $31,244. Terramark Urban Homes is to finance, build, and sell 25 single-family homes as part of the Wheatley Choice Neighborhood Grant. These homes are intended to provide home-ownership affordable housing for San Antonians at or below 120% AMI. The developer is building on the property adjacent to the alley and applied for funding to pave the alley for public use.
ISSUE:
The Inner City TIRZ Board approved funding for public improvements for an amount not to exceed $31,244 on August 26, 2020. City Council consideration is requested for the authorization of a Development Agreement between the Board of Directors for Tax Increment Reinvestment Zone Number Eleven, City of San Antonio, Texas, and SA Wheatley Infill, LLC.
ALTERNATIVES:
Should this Development Agreement with SA Wheatley Infill, LLC for eligible public improvements for an amount not to exceed ...
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