Downtown Development Initiatives
CIP 840-607-3009
Summary
The Austin City Council has identified downtown development and housing as a major priority. In addition, the City has received numerous inquiries concerning retail development in or near downtown, and is also considering other projects, including Consolidation of the City's Downtown Office Space and a Downtown Art Museum. The City of Austin has obtained professional assistance to ensure that all major downtown land development projects fit within a broader downtown development context. The consultant team is assisting the City staff with a program which includes the evaluation of current or future projects related to downtown development, performance of market analysis, and assisting the City in developing one or more Requests For Proposals (RFPs) for attracting prospective downtown development.
Subsequent phases could include evaluation of development proposals, assisting the City in negotiating contracts with developers, assisting the City with management of developers contracts and assisting in providing continuity between planning and construction phases of any projects.
Status
Staff at the Department of Planning and Development has been working with the consultant to create the data bases (base mapping, zoning inventory, parcel information, and geographic information system coverages) necessary for the major work elements, which include: formation of one or more Reinvestment Zone(s) for the purpose of Tax Increment Financing; formation of a Development Corporation to focus on downtown development opportunities, and; establish criteria, standards and initiate the downtown developer selection process. City Council work sessions are expected to begin in late February, 1996.
Description
The current work is expected to culminate in one or more Requests For Proposals (RFPs). Subsequent phases could include:
- Evaluating development proposals related to: 1) financial viability of projects, 2) compatibility with existing development, 3) possible partnership with the City, 4) suitable roles for any potential partnership, 5) financial models, and 6) market feasibility
- Assisting the City in negotiating contracts with developers related to downtown development.
- Assisting the City with management of developers contracts related to downtown development throughout the phases.
- Assisting in providing continuity between planning and construction phases of any accepted development projects.
- Preparing management, City Council and/or other required reports.
Basic Data
- Project Contact: Dave Kreider, Assistant Director, Department of Planning and Development, 499-6381, or Michael Knox, Senior Planner, 499-6418
- Consultant: Keyser Marston Associates
- Contract Amount (Phase II): not to exceed $100,000
- Contract Period (Phase II): 1 year
Revised March 27, 1996
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