PRESENTER: Presenter
Jeff Jewell, Economic and Community Development Director
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SUBJECT: Title
Discuss and consider the approval of a Memorandum of Understanding (MOU) between the City of New Braunfels and NB Mainzer, LLC for development discussions for property located at 263 Main Plaza, New Braunfels, Texas.
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DEPARTMENT: Economic and Community Development
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COUNCIL DISTRICTS IMPACTED: 5
BACKGROUND INFORMATION:
In May 2021, New Braunfels Utilities issued a request for proposals to engage a developer for the redevelopment of the Main Plaza Building. Seals Family Properties, LLC (the Developer) responded to the RFP with a written proposal, completed an interview process which included city representatives, and was identified as the selected respondent by NBU for the development of the property. Soon thereafter, negotiations between NBU and the Developer were terminated since they were unable to reach agreeable terms for the project.
The City of New Braunfels acquired the Main Plaza Building at 263 Main Plaza in 2024 and intends to begin negotiations with the Developer based on their previous submittal to NBU in 2021. The City of New Braunfels and the Developer desire to work together to enhance the quality of the community for the future of Downtown New Braunfels. Both parties will work to explore the methods and steps necessary to reach an agreement to develop the property at 263 Main Plaza to include design, financing, construction, operation, and the possible conveyance of the property for the redevelopment of the existing Main Plaza Building. The Developer is creating a new LLC named NB Mainzer, LLC., which is what the MOU references.
The execution of this MOU will initiate an exclusive negotiation process with the developer.
ISSUE:
Consideration of a Memorandum of Understanding between the City and Developer for exclusive negotiations for development of the Main Plaza Building.
STRATEGIC PLAN REFERENCE:
☒Economic Mobility ☐Enhanced Connectivity ☐Community Identity
☐Organizational Excellence ☒Community Well-Being ☐N/A
FISCAL IMPACT:
There is no fiscal impact associated with the MOU.
Recommendation
RECOMMENDATION:
Staff recommends the approval of the MOU between the City of New Braunfels and NB Mainzer, LLC.