DEPARTMENT: Neighborhood & Housing Services
DEPARTMENT HEAD: Ver?nica R. Soto, FAICP, Director, NHSD
COUNCIL DISTRICTS IMPACTED: City Wide
SUBJECT:
2017-2022 Neighborhood Improvements Bond Program Update
SUMMARY:
Staff briefing on the status of the voter approved 2017-2022 Neighborhood Improvements Bond Program.
BACKGROUND INFORMATION:
The 2017 Neighborhood Improvements Bond Program provides for the issuance of general obligation bonds to finance the cost of permitted activities as set forth in the adopted Urban Renewal Plan. The $20 million program is one component of the $850 million Bond package approved by voters on May 6, 2017. Chapter 374 of the Texas Local Government Code, as amended ("Chapter 374"), required the identification of specific geographic areas where Bond funds can be spent; after a public hearing, twelve (12) areas were incorporated into an Urban Renewal Plan approved by City Council on February 2, 2017 as Neighborhood Improvements Areas. The Urban Renewal Plan is the legal framework for activities conducted as part of the Neighborhood Improvements Bond.
To date, City Council has approved three (3) Neighborhood Improvement Bond Program projects. On January 17, 2019 Council approved the sale and development of 3830 Parkdale in Council District 8, on June 15, 2019 the sale and development of 711 S. Frio Street in Council District 5, and on October 3, 2019 the sale and development of 7402 S. New Braunfels in Council District 3.
ISSUE:
Staff will provide a status update on the voter approved 2017-2022 Neighborhood Improvements Bond Program. To date, City Council has approved three (3) Bond Projects that will be included in the briefing. The projects include the sale and development 3830 Parkdale in Council District 8, known as the Park at 38THIRTY, a 196 all affordable housing development at 60% Area Median Income (AMI); 711 S. Frio Street in Council District 5, known as the West End on Frio, a 24 unit mixed-income housin...
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