Res 2011-145 - Laserfiche WebLink

Home Browse Search

Table 1 - Proposed Project Costs ESTIMATED ITEM PROJECT ZONE NO.5 PROJECT COSTS 1 Construction and Redevelopment of Hays $ 587,000 County Justice Center site /building* TOTAL ESTIMATED PROJECT COSTS: $ 587,000 *Tax increment revenues may be used to directly pay certain Justice Center site improvements or used to reimburse a developer pursuant to a public - private partnership. City of San Marcos Zone No. 5 Project Plan and Financing Plan 6 Draft 11/10/2011 Project Overview and Project Costs This Table 1 summarizes the currently anticipated Project Costs to be financed within Zone No. 5. 1. Redevelopment of Hays County "Justice Center" Property If Hays County issues a request for qualifications, request for proposals or other similar vehicles in order to secure a public - private partnership approach or other disposition for the redevelopment or adaptive reuse of the "Justice Center" property, then tax increment revenues of the proposed Zone No. 5 shall be made available for infrastructure or other improvements allowed by law or for reimbursement of expenditures in infrastructure or other improvements by the successful entity or consortium in connection with the disposition of the "Justice Center" Property. Reimbursements shall be based on project investments that meet the priority policies delineated in the Executive Summary in coordination with Hays County. 2. Infrastructure supporting cohesive redevelopment If Hays County does not dispose of the "Justice Center" through the process described above, proposed Zone No. 5 tax increment revenues shall be made available to facilitate investment in infrastructure or other improvements allowed by law that facilitate the following potential projects. These projects are also subject to the six priority points outlined in the "Executive Summary ". This Project and Finance Plan will be amended as may be required by law to accommodate additional uses of the tax increment revenues within Zone No. 5: a. Redevelopment projects adjacent to the Texas State Campus, providing improved usage of underutilized properties and better transitions between the campus and downtown. Such projects shall ideally facilitate the creation of primary jobs within a mix of residential, office and retail uses. b. Redevelopment adjacent to Transit Oriented Development (TOD) associated with the area identified as potential future rail station by the Lone Star Rail District. This area is bounded by CM Allen Street, E. San Antonio Street, S. Edward Gary Street and the railroad tracks and is located approximately two blocks from the Courthouse square. c. Redevelopment or other projects that provide cohesive and sustainable development advancing the Downtown Master Plan and /or that improves linkages among the River, the future TOD /rail station area, the Square and the Texas State Campus. Such projects may include improved sidewalks, signage, bicycle racks, and other elements facilitating multiple modes of transportation. d. Projects that advance the aims of the Downtown Master Plan to provide a "Chain of Ponds" to help slow and purify stormwater runoff before it reaches the River, to improve pedestrian and bicycle linkages.