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, Planning,
Environmental and Conservation Services Department, 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 May 1, 1996
Back to the May 1996
Contents
|
