DEPARTMENT: Neighborhood and Housing Services Department
DEPARTMENT HEAD: Ver?nica R. Soto, FAICP, Director
COUNCIL DISTRICTS IMPACTED: 1 & 5
SUBJECT:
An Ordinance approving the execution of a Funding Agreement between the Westside Development Corporation, Westside TIRZ Board of Directors, and the City of San Antonio for an amount not to exceed $110,000 for the Westside Development Corporation's Strategic Plan in Council Districts 1 and 5.
SUMMARY:
A Funding Agreement between the Westside Development Corporation, Westside TIRZ Board of Directors, and the City of San Antonio for an amount not to exceed $110,000 for the for the Westside Development Corporation's Strategic Plan in Council Districts 1 and 5.
BACKGROUND INFORMATION:
On December 15, 2020, the Westside TIRZ Board of Directors approved a Funding Agreement with the Westside Development Corporation for an amount not to exceed $110,000 for the Strategic Plan.
The Westside Development Corporation has served the westside of San Antonio for over fourteen years. Previously the Westside Development Corporation has commissioned other studies such as the Westside Market Study (2017) and the Opportunity Zone Plan (2019).
The proposed plan will serve as a roadmap to achieve the revitalization of the near westside. The plan will address the economic challenges facing the near westside and offer recommended solutions. The solutions will enhance the marketability and feasibility of projects in the westside and will be implemented by the Westside Development Corporation.
The premise of the plan is that before COVID-19, San Antonio's economy was booming, albeit unevenly. The pandemic has brought a historic spike in unemployment and looming threats of mass evictions, small business closures, and other economic distress along with the potential for long term economic and fiscal uncertainty. As with any destabilizing crisis, low-wage earners, minorities, and small businesses are most vulnerable. A pl...
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