1. 1
City of San Antonio
CENTER CITY DEVELOPMENT OFFICE
Infill Development Workshop
June 7, 2013
Center City Housing Incentive Policy
2. WHY A PREDICTABLE INCENTIVE SYSTEM?
• Infill development is challenging
• Assists in normalizing land values
• Reduces the risk for the developer
• Attracts developers
3. CENTER CITY HOUSING INCENTIVE POLICY
• Eligibility
– Multi-Family for sale or rental
– Must be within CRAG
• Incentive amount increases if in 1 of 8
Target Growth Area’s; and/or
• Adaptive Reuse, Brownfields, or Historic
Rehabilitation in the ICRIP.
• Goals and Objectives
– Historic Rehabilitation
– Adaptive Reuse
– Brownfields Redevelopment
– Transit Oriented Development
– Community Use
– Mixed Income Development
– Good Urban Design
4. RECOMMENDED INCENTIVES
• Fee Waivers
• Real Property Tax
Reimbursement Grants
• Inner City Incentive Fund
Loans
• Mixed Use Development
Forgivable Loans
• NO CASH GRANTS
5. INCENTIVE TIERS
Tier 1
•Urban Core
Tier 2
•Near River South
•HemisFair/Cesar Chavez
•Near East Side
•Near West Side
•Civic Core
•Medical District
Tier 3
•River North
Tier 4
•Midtown
6. CITY AND SAWS FEE WAIVERS
• Certain City fees are waived as
outlined in the Inner City Reinvestment
Infill Policy.
• SAWS Impact Fee Waivers to be
waived on all housing projects within
the CRAG.
• Contingent upon funding availability
7. REAL PROPERTY TAX REIMBURSEMENT GRANTS
• 10 year tax reimbursement
– CRAG– Icrip
• 15 year tax reimbursement
– 1 of the 4 Tiers
– Adaptive Reuse, Brownfields
Redevelopment, Historic Rehabilitation
Project in the ICRIP
• Historic Tax Exemption or Tax Abatement
8. INNER CITY INCENTIVE FUND LOAN
Categories
• Mixed Income
• Community Use
• Adaptive Reuse
• Brownfield Redevelopment
• Historic Rehabilitation
• High-rise Development
• Student Housing
• Transit Oriented Development within ¼ mile of the West
Side Multi-Modal Center or Robert Thompson Transit
Center
9. LOAN AMOUNT
• Tier 1 (light blue)
– $3,000 per category
– Not to exceed $6,000 per housing unit
• Tier 2 (light brown)
– $1,500 per category
– Not to exceed $3,000 per housing unit
• Tier 3 (blue)
– $1,000 per category
– Not to exceed $2,000 per housing unit
• Tier 4 (yellow)
– $500 per category
– Not to exceed $1,000 per housing unit
10. INNER CITY INCENTIVE FUND LOAN BONUS
• Tiers 1 – 4
– $1,000 per unit if the
project includes
structured parking
– $500 per unit if the
project includes Low
Impact Development
standards
11. LOAN TERMS
• Fixed rate
– one year LIBOR Rate plus 75 basis points
• Interest compounds annually
• Balloon repayment in year 7
• Contingent upon funding availability
12. MIXED USE FORGIVABLE LOAN
• Loan Amount
– $20 per square foot of retail
– $10 per square foot of
commercial office
• 20% forgiven every year
for 5 years
– Space must be leased
– Tenant finish out
improvements
• Contingent upon funding
availability
13. ADMINISTRATION
• Center City Development Office
– Process CCHIP applications and agreement
– Initiate marketing efforts
• Economic Development Department
– Monitor agreements
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City of San Antonio
CENTER CITY DEVELOPMENT OFFICE
Infill Development Workshop
June 7, 2013
Center City Housing Incentive Policy
15. 15
Project Examples
Multi-Family Housing Project within the CRAG, not within
an Incentive Tier and not considered a brownfield
redevelopment project, historic rehabilitation project, or
adaptive reuse project.
City Fee Waivers as identified in ICRIP
SAWS Fee Waivers (contingent upon funding availability)
10 year real property tax reimbursement (participation
level is 100% if the project is within a Tax Increment
Reinvestment Zone and 66% if it is not within a Tax
Increment Reinvestment Zone)
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Project Examples
300 Unit Multi-Family Housing Project within the CRAG,
not within an Incentive Tier, and considered a brownfield
redevelopment project.
City Fee Waivers as identified in ICRIP
SAWS Fee Waivers (contingent upon funding availability)
15 year real property tax reimbursement (participation
level is 100% if the project is within a Tax Increment
Reinvestment Zone and 66% if it is not within a Tax
Increment Reinvestment Zone)
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Project Examples
300 Unit Multi-Family Housing Project within the CRAG, within
Incentive Tier 2, qualifies as an adaptive reuse project, mixed
income project, includes 10,000 square feet of 1st floor retail,
and includes a structured parking garage.
City Fee Waivers as identified in ICRIP
SAWS Fee Waivers (contingent upon funding availability)
15 year real property tax reimbursement (participation level is
100% if the project is within a Tax Increment Reinvestment Zone
and 66% if it is not within a Tax Increment Reinvestment Zone)
$1.2 million low interest loan ($4,000 per unit)
Adaptive Reuse ($1,500 per unit)
Mixed Income ($1,500 per unit)
Structured Parking ($1,000 per unit)
$200,000 Mixed Use Forgivable Loan
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Project Examples
300 Unit Multi-Family Housing Project within the CRAG, within Incentive
Tier 1, qualifies as a historic rehabilitation project, community use, includes
10,000 square feet of 1st floor retail, and includes a structured parking
garage.
City Fee Waivers as identified in ICRIP
SAWS Fee Waivers (contingent upon funding availability)
Historic Tax Exemption (requires HDRC approval)
100% for Years 1-5
50% for years 6-10
15 year real property tax reimbursement that runs concurrently with the Historic
Tax Exemption (real property tax reimbursement participation level is 100% if the
project is within a Tax Increment Reinvestment Zone and 66% if it is not within a
Tax Increment Reinvestment Zone)
$2.1 million low interest loan ($7,000 per unit)
Historic Rehabilitation ($3,000 per unit)
Community Use ($3,000 per unit)
Structured Parking ($1,000 per unit)
$200,000 Mixed Use Forgivable Loan