SA District 5 Councilmember Secures Community Benefits

San Antonio TX

20 March, 2022

1:38 PM

Description

Press release from the City of San Antonio: Thursday, March 17, 2022 CONTACT: Amador Salazar [email protected] Today, City Council unanimously approved a Chapter 380 agreement with Prosper West in the amount of $945,000 for the rehabilitation of the Basila Frocks Building at 502 N. Zarzamora. The funds are partially structured as a forgivable loan for land acquisition and partially a reimbursable grant for public improvement costs. The total project cost is expected to be approximately $3.7 million. The Westside Tax Increment Reinvestment Zone (TIRZ) approved the initial request in June 2021. Over the last nine months, Councilwoman Castillo worked with community, Prosper West, DreamOn, and the Neighborhood Housing Services Department to finalize the incentive agreement. "The new Basila Frocks represents a large accomplishment for the Prospect Hill, Gardendale, and West End neighborhoods who have advocated for its revival for nearly two decades," said Castillo. "I am proud that District 5 worked to secure a bevy of community benefits which ensure Basila Frocks accessible to neighborhoods and a fair deal for taxpayers." The specific community benefits District 5 worked to secure are: A reduced rental rate at Basila Frocks for area microbusinesses. The use of Basila Frocks as year-round meeting space for neighborhoods and community groups at no charge to them. The use of low-impact development practices Agreement that the abutting public infrastructure would be among the first items to be addressed as part of the redevelopment. Once built, an influx of Basila Frocks tenants will patronize many of the great District 5 restaurants and small businesses nearby providing a boost of commerce that has been sorely missed after the challenges that COVID-19 has presented for our small businesses. "The built environment has such an impact on public safety, and some of the project's biggest advocates – neighborhood association presidents Jason Mata and Carlos Gonzales -- are excited this investment will provide residents with an additional sense of security," said Castillo. During the meeting the Councilwoman extended her thanks to area neighborhoods, City staff, Prosper West, and the DreamOn Group for their input and involvement. According to the development schedule provided by Prosper West, the rehabilitation is expected to be complete by August. The property is anticipated to contribute over $58,000 per year in annual property taxes once rehabilitated. This press release was produced by the City of San Antonio. The views expressed here are the author's own.