Presenter/Contact
Presenter
Victor Garza, Economic Development Manager
Contact Info
(830) 221-4621 - vgarza@nbtexas.org
Subject Header
SUBJECT:
Title
Approval of a resolution recommended by the New Braunfels Industrial Development Corporation to provide up to $150,000 to the City of New Braunfels for downtown parking improvement projects.
Body
BACKGROUND / RATIONALE:
On October 17, 2017, the New Braunfels Industrial Development Corporation approved in a 6-0 vote an expenditure of up to $150,000 for downtown parking improvement projects. This proposed expenditure would provide the funding necessary to make improvements at three downtown locations including pavement repairs, striping, safety features and lighting, among others. The areas include the old Chase Bank site (additional lighting), Hill Ave and Comal County’s Zinc/Bridge lot. Based on estimates, the $150,000 will provide adequate funding to make these improvements as well as project contingency. Any unused funds will be returned to the NBIDC.
ADDRESSES A NEED/ISSUE IN A CITY PLAN OR COUNCIL PRIORITY:
|
X |
Yes |
Strategic Priority 12 |
Work with existing entities to ensure sustainable quality development. -Implement the Downtown Plan (including addressing parking) |
FISCAL IMPACT:
The $150,000 will be taken out of NBIDC funds. The item has been budgeted for this fiscal year.
Recommendation
COMMITTEE RECOMMENDATION:The NBIDC Board approved 6-0 on October 17, 2017.
STAFF RECOMMENDATION:
Staff recommends approval of this expenditure.