DEPARTMENT: Neighborhood and Housing Services Department
DEPARTMENT HEAD: Ver?nica R. Soto, FAICP, Director
COUNCIL DISTRICTS IMPACTED: 1
SUBJECT:
Ordinances approving an Assignment of Rights and Obligations Agreement between GrayStreet Travis Garage, LLC, GrayStreet Travis Office, LLC and TPP EPA, LLC; a First Amendment to the Development Agreement between TPP EPA, LLC, Houston Street TIRZ Board of Directors, and the City of San Antonio; Assignment of the Chapter 380 Economic Development Loan Agreement between GrayStreet Travis Office, LLC and TPP EPA, LLC.
SUMMARY:
Consideration of three ordinances related to approving the following actions:
A. Approving an Assignment of Rights and Obligations between GrayStreet Travis Garage, LLC, GrayStreet Travis Office, LLC and TPP EPA, LLC for the Travis Garage Rehabilitation Project located at 213 East Travis and 711 Navarro Street in City Council District 1.
B. Approving a First Amendment to the Development Agreement between TPP EPA, LLC, Houston Street TIRZ Board of Directors, and City of San Antonio to revise the project completion date and Exhibit G, Project Costs Eligible for Reimbursement, for the Travis Garage Rehabilitation Project located at 213 East Travis and 711 Navarro Street in City Council District 1.
C. An Ordinance authorizing the Assignment of the Chapter 380 Economic Development Loan Agreement from GrayStreet Travis Office, LLC to TPP EPA, LLC, for the property located at 711 Navarro Street and 213 East Travis Street in Council District 1 and funded by the Inner City Incentive Fund (ICIF).
BACKGROUND INFORMATION:
On June 13, 2019 through Ordinance 2019-06-13-0521 City Council approved the Development Agreement with GrayStreet Travis Garage LLC for the Travis Garage Rehabilitation Project for an amount not to exceed $1,250,000 located at 213 East Travis and 711 Navarro Street in City Council District 1 and within Houston Street TIRZ #9, and approved a Chapter 380 Economic Development Loan A...
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