2020_0218_Item 3aii. Presentation- Draft 1 SCW Physical Framework Costs — original pdf

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South Central Waterfront Physical Framework Cost Update: February 18, 2020 2020| South Central Waterfront Advisory Board| Austin, TX FRAMEWORK > Three Legged Stool $ Physical Framework Financial Framework City Leadership Green Streets, Pedestrian Connections & Open Space for a great public realm District-wide Value Capture, Strategic Capital Investments and Bonus Entitlements to fund public realm and affordable housing. Public-Private Partnerships and Leverage City Assets in order to achieve community goals A PHYSICAL FRAMEWORK FOR RATIONAL DEVELOPMENT 1. Expanded Waterfront Open Space 1. Expanded Waterfront Open Space 1. Expanded Waterfront Open Space 1. Expanded Waterfront Open Space 1. Expanded Waterfront Open Space 2. Catalyst Open Space, Trails & Green Streets 2. Catalyst Open Space, Trails & Green Streets 2. Catalyst Open Space, Trails & Green Streets 2. Catalyst Open Space, Trails & Green Streets 3. Developer added Green Streets 3. Developer added Green Streets 3. Developer added Green Streets 4. Existing Roadway Improvements 4. Existing Roadway Improvements 5. Public Realm Framework for development Existing Waterfront Existing Waterfront Open Space Open Space New Waterfront Open Space MAKING DOLLARS AND SENSE OF THE PHYSICAL FRAMEWORK MAKING DOLLARS AND SENSE OF THE PHYSICAL FRAMEWORK OPEN SPACE 37.5%, $100,962,219 RECLAIMED WATER 1%, $$2,516,653 UTILITIES 14.4%, 38,947,036 ROADWAY AND DRAINAGE 27.2%, $73,424,085 STREETSCAPE 18.4%, $49,619,957 GREEN INFRASTRUCTURE 1.5%, $4,089,948 $269,559,898 Physical Framework includes: Utilities 14.4%, 38,947,036  Water  Wastewater  Reclaimed Water  Electric  Telcommunication  Gas Physical Framework includes: Roadway and Drainage 27.2%, $73,424,085 Physical Framework includes: Streetscapes 18.4%, $49,619,957 BAGBY STREET Houston, TX 2.85 miles of green streetscape (43% new, 57% existing upgrades) Design Workshop/ AsakuraRobinson / Walter P Moore Physical Framework includes: Open Space 37.5%, $100,962,219 1.3 Acres .3 Acres 9.6 Acres Crockett Square Nightwing Plaza Waterfront Park – Great Lawn 5.2 Acres .6 Acres Green Connector East Bouldin Creek Trail 17 acres total A FINANCIAL FRAMEWORK TO FUND THE VISION OPERATIONS & MAINTENANCE TRANPORTATION & INFRASTRUCTURE OPEN SPACES (Parks, AFFORDABLE Trails, Plazas) HOUSING PRIVATELY FUNDED Baseline Development Requirement TBD Bonus Development Requirement Public Improvement District Philanthropy (Conservancy) PUBLICLY FUNDED TBD Tax Increment Finance (TIF) Capital Improvement Projects (CIP) Public Utilities Affordable Housing (AHTF, tax credits)              A FINANCIAL FRAMEWORK TO FUND THE VISION BONUS FEE + TIF 40%, $107,568,820 ● ● PRIVATE: Density Bonus Fee (TBD March 2020) PUBLIC: the remaining funding gap covered by Tax Increment Financing UTILITIES 7%, $17,825,349 $269,559,898 BASELINE DEVELOPMENT 33%, $89,832,825 Infrastructure costs borne by Developer as part of base development costs (i.e., non-bonus requirement) CAPITAL IMPROVEMENTS 20%, $54,332,859