Ordinance approving: 1) the acquisition of .95 acres of land located at 419 San Pedro Avenue and 425 San Pedro Avenue, by the City of San Antonio, by and through the Urban Renewal Agency of the City of San Antonio, doing business as the Office of Urban Redevelopment San Antonio (OUR SA), from Mireles Properties LLC and Marquee Investments LLC for an amount not to exceed $2,000,000.00; 2) authorizing the sale of said .95 acres of land to Franklin Development Properties, Ltd. by the City of San Antonio, by and through the OUR SA for a sales price of $500,000.00 payable to the City as program income for the 2017-2022 Neighborhood Improvements Bond Program; and 3) authorizing the City to reimburse eligible expenses to Franklin Development Properties, Ltd in accordance with the Urban Renewal Plan in an amount not-to-exceed $2,650,000.00 which includes a $350,000.00 contingency for additional authorize expenses; a Neighborhood Improvement Bond Program Project funded by the 2017-2022 General Obligation Bond, located in Council District 1. [Lori Houston, Assistant City Manager; Veronica R. Soto, Director, Neighborhood & Housing Services]

Committee

City Council A Session

Requested by

Neighborhood and Housing Services

Introduced

January 6, 2021

On agenda

February 11, 2021

Passed

February 11, 2021

Enacted

February 11, 2021

Enactment no.

2021-02-11-0094