DEPARTMENT: Neighborhood and Housing Services Department
DEPARTMENT HEAD: Ver?nica R. Soto, FAICIP, Director
COUNCIL DISTRICTS IMPACTED: 3
SUBJECT:
Briefing and possible action on the Roosevelt Heights Project located west of Roosevelt Ave. along the frontage of Interstate Highway Loop 410 within the Mission Drive-In TIRZ in Council District 3.
SUMMARY:
The Roosevelt Heights Project is a 23.724-acre single-family residential development, generally located west of Roosevelt Avenue along the frontage of Interstate Highway Loop 410. The Project will consist of a subdivision with 135 lots developed at an average size of 5,714 square feet with homes to be sold in the price range of high $100s to the mid $200s. The Project also includes a park, passive recreation area centralized within the community, and necessary public improvements. Construction was expected to begin in 2020 with completion projected by mid-late 2026. The Project is being developed with a multiple-party project team including Bitterblue, Developer; Jack Walker, Property Owner; KB Homes, Builder; and Pape-Dawson, Engineers. With major employers in the area such as Harlandale Independent School District, SA Missions National Park Headquarters, and Qualified Manufacturing Co., this single-family affordable housing development will be a welcome addition to the surrounding area.
The developer, Bitterblue, Inc., is requesting TIRZ funding for public infrastructure for an amount not to exceed
$4,625,024 to be reimbursed over 15-years. Staff is recommending reimbursement structured as a tax rebate using a Chapter 380 Economic Development Agreement. The tax rebate for the first five years will be reimbursed at 90% by the Mission Drive-In TIRZ, and the last ten years will be reimbursed with General Funds using the City's Operations & Maintenance (O&M) rate, currently at 62.15%.
File Number: 21-2513
BACKGROUND INFORMATION:
In December 2019, Bitterblue, Inc. submitted a TIF Funding Application see...
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