DEPARTMENT: Neighborhood and Housing Services Department
DEPARTMENT HEAD: Verónica 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 plan to rapidly and strategically respond to COVID-19, leveraging pre-pandemic momentum is why the Westside Development Corporation proposes this plan. The proposed plan will undertake the development of an economic development strategic plan which will assess the economic conditions of the 15-square mile area served by the Westside Development Corporation which falls within the boundary of the Westside TIRZ and in Council Districts 1 and 5 and recommend equitable strategies to stimulate economic activity in the area. The plan will provide a recommended strategy to stimulate additional investment and job creation in the area with a concentration on equitable economic development and COVID-19 recovery for small businesses. The plan will draw upon national best practices with similarly positioned communities, interviews and conversations with residents, business owners, nonprofits, other institutions, and researched and collected data.
The Strategic Plan development will commence approximately thirty days after execution of the Funding Agreement, and it will take approximately four months to complete. The Westside Development Corporation will be responsible for implementing the plan.
ISSUE:
City Council consideration is requested for the approval of a Funding Agreement for the Westside Development Corporation’s Strategic Plan for an amount not to exceed $110,000.
ALTERNATIVES:
If City Council chooses not to approve the Funding Agreement, the Westside Development Corporation will need to seek an alternate funding source. This could potentially cause the development of the Strategic Plan to be delayed or not move forward.
FISCAL IMPACT:
Funding for this agreement is available through the tax increment produced by the Westside TIRZ #30. There will be no impact to the General Fund.
RECOMMENDATION:
Staff recommends approval of the 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.