To: South Central Waterfront Advisory Board From: Alan Holt Date: September 23, 2020 RE: Financial Calculator Assumptions- Notes, Affordable [housing], and Market __________________________________________________________________________ At the September 23, 2020 meeting of the SCWAB, staff will provide a real-time demonstration of the Financial Calculator, developed by ECONorthwest for the City of Austin Planning Department. The Financial Calculator is a dynamic spreadsheet which combines multiple layers of varying inputs (physical project costs; district buildout assumptions; redevelopment assumptions, etc.) that can be mixed-and-matched to do scenario pro forma analysis. During this demonstration, staff will show the kinds of data which are included with the multiple “tabs” in the spreadsheet. The full range of tabs include: Notes; Rollup; Development Summary; Plan Scenarios; Pro Formas; OTC; Market; Infrastructure; Affordable. Some of those data inputs the SCWAB has seen before. For instance, the “Infrastructure” tab includes the information from the District Physical Framework Project Costs spreadsheet, which was backup material provided to the SCWAB earlier this year that associates the costs per property. Another tab (“OTC”) looks specifically at six redevelopment scenarios for affordable housing on the One Texas Center parking lot, which was also supplied as backup in a prior SCWAB meeting. This supporting pdf backup provides a snapshot of the following three tabs, for the purpose of informing the live demonstration of the calculator tool at today’s meeting: This tab provides an overview of the methodology, assumptions and terms that ECONorthwest used in developing the calculator. The “Notes” tab provides specific definitions for data found in the subsequent tabs. Notes Tab: Affordable Tab: The “Affordable” tab contains information about the cost incurred by the City of Austin to produce income-restricted housing units, with the intention to incentivize and support affordable housing to ultimately equal 20% of the district’s new residential units. The data draws from recent affordable housing projects that the NHCD helped develop. Market Assumptions Tab: The “Market” tab includes critical market assumption inputs that affect the pro forma analysis. In 2016, the SCW Appendices called these inputs the “development assumptions.” These are the range of inputs that a developer uses to create a pro forma analysis. For this new calculator, EcoNorthwest recycled the development assumptions from 2016 as one potential input, and created six new “Development Assumptions” that can be chosen to compare the feasibility. For the demonstration today, the “2019 Interviews” market assumptions are used to drive the financial modeling. These values …
South Central Waterfront SCW Financial Analysis & Calculator : September 23, 2020 South Central Waterfront Advisory Board| Austin, TX THE SCW VISION: Community Benefits Financially feasible Public/Private Partnerships to make the district: ● GREEN: Retrofitting 17 new acres of connected parks, trails, plazas and open spaces across a patchwork of properties ● CONNECTED: Insert .6 miles of new streets, add over 2 miles of refurbished and new sidewalks, and include transit options, to create a walkable and transit- friendly district ● AFFORDABLE: Incentive and support affordable housing to ultimately equal 20% of the district’s new residential units Context of presentation: 1. Council Resolution on SCW (Feb. 2020): …”The City Council directs the City Manager to provide a briefing to City Council on the status of the update to the financial and economic assumptions [for a] Tax Increment Financing Plan.” 2. The “Statesman PUD” is in process. 3. Impending creation of the Austin Economic Development Corporation (AECD). Underlying questions to presentation: 1. How does the calculator address a portion of the Council directive? a. Given the limits of the calculator, how do we complete the TIRZ market feasibility & absorption/revenue forecast to fully address the Council directive? 2. How might the financial calculator inform the “Statesman” PUD review? 3. How might the financial calculator inform the impending AEDC? Updating the infrastructure plan: The big shift WATERFRONT PARK INTERNAL STREETS BARTON SPRINGS EXTENSION CROCKETT SQUARE E Riverside 2016 SCW Plan 2020 Modified SCW Plan ● Block Structure reflects idealized district vision ● Barton Springs Alignment: ○ ○ ○ ○ Requires City Leadership to facilitate cooperation between two major property owners - Cox & Crockett Requires City Initiative and Public Funding to complete the construction Park & Pedestrian Plazas - 9.6 acres; flexible layout Crockett Square - 1 acre plaza; flexible layout + Green Connector ● Open Space Requirements: ● Block Structure follows the flexible guidelines laid out in the 2016 Plan and reflects on- the-ground realities ● Barton Springs Alignment: follows property boundary between Cox & Crockett Barton Springs on Cox property consistent w/ 2019 PUD proposal ■ This shift requires Cox to dedicate ~1.6 acres to Barton Springs Rd. that would otherwise have been on Crockett ● Open Space Requirements: Key Open Spaces change slightly to accommodate the altered grid structure Cox Property requirement ~ 9 acres Park & Pedestrian Plazas Crockett Property - 1.3 acre plaza; flexible layout + Green …
DRAFT | September 23, 2020 DRAFT | September 23, 2020 DRAFT | August 18, 2020 South Central Waterfront 2020 South Central Waterfront Vision Framework Plan Update DRAFT | September 23, 2020 DRAFT | September 23, 2020 Table of Contents 2 5 8 25 48 Introduction Physical Framework Financial Framework Appendices City Leadership : Implementation Priorities DRAFT | September 23, 2020 DRAFT | September 23, 2020 Financial Framework 4 THE SCW FINANCIAL FRAMEWORK FUNDING TOOLKIT DRAFT | September 23, 2020 DRAFT | September 23, 2020 ● ● ● R D ● ● ● ○ ○ T F A R ✔ ✔ D A ✔ ✔ ✔ ✔ ✔ T F ✔ ✔ ✔ ✔ ✔ ✔ Executive Summary | Introduction | Physical Framework | Financial Framework | City Leadership | Appendices # Executive Summary | Introduction | Physical Framework | Financial Framework | City Leadership | Appendices # DRAFT | September 23, 2020 DRAFT | September 23, 2020 DISTRICT PROJECT COSTS ● ● ○ ○ ■ ■ ● ● F T A M 1 . 1 1 $ M 9 . 9 4 $ M 9 . 9 7 $ D R M 1 . 5 $ M 7 . 2 $ M 5 . 5 $ M 9 . 5 $ M 1 . 7 $ M 5 . 3 $ M 8 . 1 $ SIGNIFICANCE OF THE STATESMAN & CROCKETT SITES M 3 . 9 7 $ ○ ○ ○ ● ● ● ● T A F ● ● ● ● ● ● ● ● ● ● R D Executive Summary | Introduction | Physical Framework | Financial Framework | City Leadership | Appendices # Executive Summary | Introduction | Physical Framework | Financial Framework | City Leadership | Appendices # DRAFT | September 23, 2020 DRAFT | September 23, 2020 BUILDOUTS FOR FINANCIAL ANALYSIS TIPPING PARCELS T F A ● ● R D T F A R D Executive Summary | Introduction | Physical Framework | Financial Framework | City Leadership | Appendices # Executive Summary | Introduction | Physical Framework | Financial Framework | City Leadership | Appendices # DRAFT | September 23, 2020 DRAFT | September 23, 2020 HYBRID BUILDOUT ● ● ● ● ● T F A UPDATED 3D MODEL - COULD BE GOOD TO SHOW USES TOO R D T F A R D Executive Summary | Introduction | Physical Framework | Financial …
SPECIAL MEETING OF THE SOUTH CENTRAL WATERFRONT ADVISORY BOARD WEDNESDAY, SEPTEMBER 23, 2020 AT 10:00 AM Agenda item 3a: Discussion with Assistant City Manager Rodney Gonzales and Housing & Planning Department Director Rosie Truelove on Neighborhood Housing and Community Development & Planning and Zoning merger. NHCD & Planning and Zoning merger > HOUSING & PLANNING DEPARTMENT • Planning and Zoning + NHCD merger • Inclusive Planning & the SCW Plan • Department expertise w/ affordable housing to support the SCW Plan goals New HPD Org Chart – Inclusive Planning & the SCW Plan * South Central Waterfront *effective 10/1/2020 Inclusive Planning Team & the SCW Implementation Imagine Austin Team Small Area Plan Team Land Development Code Team South Central Waterfront Team HPD & the SCW 20% Affordable Housing Vision SCW P3 Funding Toolkit: SCW P3 approach: OPERATIONS & MAINTENANCE TRANSPORTATION & INFRASTRUCTURE OPEN SPACES (Parks, Trails, Plazas) AFFORDABLE HOUSING Partnerships with the Private Sector for on-site & off-site affordable housing PRIVATELY FUNDED Baseline Development Requirement Bonus Development Requirement Public Improvement District Philanthropy (Conservancy) PUBLICLY FUNDED Tax Increment Finance (TIF) Capital Improvement Projects (CIP) Public Utilities Affordable Housing (AHTF, tax credits) Questions & Discussion
South Central Waterfront SCW Financial Analysis & Calculator : September 23, 2020 South Central Waterfront Advisory Board | Austin, TX PURPOSE of the SCW Financial Framework Update: To provide City Council & decision-makers with information and a calculator to explore scenarios to understand financial impacts of potential policy choices. Today's Presentation: • Quick review of work to date that informs the Financial Calculator. • Review sample scenarios to understand how the Calculator can be used to test financial implications and inform policy choices by decision-makers. THE SCW VISION: Community Benefits Financially feasible Public/Private Partnerships to make the district: ● GREEN: Retrofitting 17 new acres of connected parks, trails, plazas and open spaces across a patchwork of properties ● CONNECTED: Insert .6 miles of new streets, add over 2 miles of refurbished and new sidewalks, and include transit options, to create a walkable and transit- friendly district ● AFFORDABLE: Incentive and support affordable housing to ultimately equal 20% of the district’s new residential units Updating the infrastructure plan: The big shift WATERFRONT PARK INTERNAL STREETS BARTON SPRINGS EXTENSION CROCKETT SQUARE E Riverside 2016 SCW Plan 2020 Modified SCW Plan ● Block Structure reflects idealized district vision ● Barton Springs Alignment: ○ ○ ○ ○ Requires City Leadership to facilitate cooperation between two major property owners - Cox & Crockett Requires City Initiative and Public Funding to complete the construction Park & Pedestrian Plazas - 9.6 acres; flexible layout Crockett Square - 1 acre plaza; flexible layout + Green Connector ● Open Space Requirements: ● Block Structure follows the flexible guidelines laid out in the 2016 Plan and reflects on- the-ground realities ● Barton Springs Alignment: follows property boundary between Cox & Crockett Barton Springs on Cox property consistent w/ 2019 PUD proposal ■ This shift requires Cox to dedicate ~1.6 acres to Barton Springs Rd. that would otherwise have been on Crockett ● Open Space Requirements: Key Open Spaces change slightly to accommodate the altered grid structure Cox Property requirement ~ 9 acres Park & Pedestrian Plazas Crockett Property - 1.3 acre plaza; flexible layout + Green Connector ○ ○ ○ ○ ○ 2020 Updated SCW Illustrative Plan SCW Infrastructure Projects: Basis for District Project Plan OPEN SPACE ~ 17 acres parks, trails, plazas 34%, $85,250,220 RECLAIMED WATER 1%, $2,210,819 UTILITIES 13%, $32,471,510 $251,928,285 ROADWAY AND DRAINAGE 0.8 miles refurbished roads 0.6 miles new roads 30%, $75,796,628 STREETSCAPE 20%, $51,213,632 GREEN …
SOUTH CENTRAL WATERFRONT ADVISORY BOARD APPROVED MINUTES FOR SEPTEMBER 23, 2020 AT 10:00 AM The South Central Waterfront Advisory Board convened in a Special Meeting on September 23, 2020 via Videoconferencing. Vice Chair Lynn Kurth called the meeting to order at 10:03 a.m. Board Members in attendance: Ex Officios: Chair Samuel Franco (Design Commission) Vice Chair Lynn Kurth (Mayor & District 9 Appointee) Greg Anderson (Planning Commission) Linda Guerrero (Environmental Commission) Francoise Luca (Parks & Recreation Board) Karen Paup (Affordable Housing Rep) Wendy Price Todd (S. River City NA) Alfred Godfrey (Trail Foundation) 1. APPROVAL OF MINUTES AND ACTION Molly Alexander (DAA) Sam Tedford (NHCD) Nazlie Saeedi (ATD) Marek Izydorczyk (ORES) Rolando Fernandez (FSD) City of Austin Planning & Zoning Staff: Alan Holt, Executive Liaison Sravya Garladenne, Staff Liaison Jodi Lane, Staff Liaison a. Board Member Linda Guerrero made a motion, seconded by Board Member Wendy Price Todd, to approve the draft August 19, 2020 SCWAB meeting minutes. Board Member Wendy Price Todd suggested a friendly amendment to add the address of the property for sale in the South Central Waterfront district. The motion to approve (at the end of the meeting) passed with 7 yes and 2 absent (includes early departee Linda Guerrero and absentee Jeff Seiden) votes. 2. ITEMS FOR DISCUSSION AND POSSIBLE ACTION a. SCWAB Letter re: Austin Economic Development Corporation (AEDC) – Chair Samuel Franco gave a brief background on the letter and reported on his meeting with ACM Rodney Gonzalez and EDD Director Veronica Briseno regarding the future of the SCWAB in the proposed AEDC. The Board discussed this and decided to wait to send the letter until the final AEDC proposal is released. 3. ITEMS FOR PRESENTATION AND DISCUSSION a. Housing and Planning Department (HPD) – HPD Director, Rosie Truelove gave a presentation on the organizational structure of the new Housing and Planning Department and along with ACM Rodney Gonzales led a discussion on the merger of the two City departments and the continued role of the SCW team at the new department. b. SCW Financial Analysis - Executive Liaison and SCW Project Manager, Alan Holt gave a presentation on the SCW Financial Analysis completed with consultant support from The City of Austin is committed to compliance with the American with Disabilities Act. Reasonable modifications and equal access to communications will be provided upon request. Meeting locations are planned with wheelchair access. If requiring …
Special Meeting of the South Central Waterfront Advisory Board August 19, 2020 South Central Waterfront Advisory Board to be held on August 19, 2020, with Social Distancing Modifications Public comment will be allowed via telephone; no in-person input will be allowed. All speakers must register in advance (Tuesday, August 18 by Noon). All public comment will occur at the beginning of the meeting. To speak remotely at the August 19 South Central Waterfront Advisory Board Meeting, residents must: Call or email the board liaison at (512)-974-3362 or Sravya.garladenne@austintexas.gov no later than noon, August 18, 2020. The information required is the speaker name, item number(s) they wish to speak on, whether they are for/against/neutral, and a telephone number or email address. Once a request to speak has been called in or emailed to the board liaison, residents will receive either an email or phone call providing the telephone number to call on the day of the scheduled meeting. Speakers must call in at least 15 minutes prior to meeting start in order to speak, late callers will not be accepted and will not be able to speak. Speakers will be placed in a queue until their time to speak. Handouts or other information may be emailed to Sravya.garladenne@austintexas.gov by Noon the day before the scheduled meeting. This information will be provided to Board and Commission members in advance of the meeting. The City of Austin is committed to compliance with the American with Disabilities Act. Reasonable modifications and equal access to communications will be provided upon request. Meeting locations are planned with wheelchair access. If requiring Sign Language Interpreters or alternative formats, please give notice at least 2 days before the meeting date. For information, please contact Sravya Garladenne in the Planning and Zoning Department at sravya.garladenne@austintexas.gov or (512) 974-3362. TTY users route through Relay Texas at 711. SPECIAL MEETING OF THE SOUTH CENTRAL WATERFRONT ADVISORY BOARD WEDNESDAY, AUGUST 19, 2020 AT 10:00 AM VIA VIDEOCONFERENCING Board Members: ___ Chair Samuel Franco (Design Commission) ___ Vice Chair Lynn Kurth (Mayor & District 9 Appointee) ___ Greg Anderson (Planning Commission) ___ Linda Guerrero (Environmental Commission) ___ Francoise Luca (Parks & Recreation Board) ___ Karen Paup (Affordable Housing Rep) ___ Wendy Price Todd (S. River City NA) ___ Jeff Seiden (Bouldin Creek NA) ___ Alfred Godfrey (Trail Foundation) Ex Officios: ___ Sam Tedford (NHCD) ___ Nazlie Saeedi (ATD) …
SOUTH CENTRAL WATERFRONT ADVISORY BOARD DRAFT MINUTES FOR JULY 20, 2020 AT 10:00 AM The South Central Waterfront Advisory Board convened in a Regular Meeting on July 20, 2020 via Videoconferencing. Chair Samuel Franco called the meeting to order at 10:08 a.m. Board Members in attendance: Ex Officios: Chair Samuel Franco (Design Commission) Vice Chair Lynn Kurth (Mayor & District 9 Appointee) Greg Anderson (Planning Commission) Francoise Luca (Parks & Recreation Board) Karen Paup (Affordable Housing Rep) Wendy Price Todd (S. River City NA) Alfred Godfrey (Trail Foundation) Jeff Seiden (Bouldin Creek NA) 1. APPROVAL OF MINUTES AND ACTION Molly Alexander (DAA) Sam Tedford (NHCD) Nazlie Saeedi (ATD) Marek Izydorczyk (ORES) City of Austin Planning & Zoning Staff: Alan Holt, Executive Liaison Sravya Garladenne, Staff Liaison Jodi Lane, Staff Liaison a. Board Member Wendy Price Todd made a motion, seconded by Board Member Al Godfrey, to approve the draft May 18, 2020 SCWAB meeting minutes. The motion to approve passed with 7 yes and 2 absent (includes late arrival Jeff Seiden and absentee Linda Guerrero) votes. 2. ITEMS FOR DISCUSSION AND POSSIBLE ACTION a. 2020 SCW Implementation Update – Executive Liaison and SCW Project Manager, Alan Holt, gave an update on the status of SCW Consultant contracts. He then gave a presentation on the 2020 SCW Implementation Update. The Board discussed this but no action was taken. 3. PROJECT UPDATES AND COMMUNICATIONS FROM STAFF a. 305 S Congress PUD – Executive Liaison Alan Holt updated the Board on the next cycle of reviews for the 305 S Congress PUD. b. Planning & Zoning Department Operations - Executive Liaison Alan Holt informed the Board of the proposed merger of the Planning & Zoning Department with the Neighborhood Housing and Community Development Department in the 2021 Fiscal Year Budget. 4. WORKING GROUP UPDATES & ASSIGNMENTS FROM CHAIR No updates The City of Austin is committed to compliance with the American with Disabilities Act. Reasonable modifications and equal access to communications will be provided upon request. Meeting locations are planned with wheelchair access. If requiring Sign Language Interpreters or alternative formats, please give notice at least 2 days before the meeting date. For information, please contact Alan Holt in the Planning and Zoning Department at alan.holt@austintexas.gov or (512) 974-2716. TTY users route through Relay Texas at 711. 5. FUTURE AGENDA ITEMS a. Status of contributions from the 425 W Riverside PUD to the …
Public Improvement District (PID) Overview South Central Waterfront Advisory Board 8.19.2020 Public Improvement District Chapter 372 of the Texas Local Government Code authorizes the creation of PIDs by cities. • A PID is a defined geographical area established to provide specific types of improvements or maintenance which are financed by assessments approved by the property owners within the area. • A PID can provide a means to fund supplemental services and improvements to meet community needs which could not be otherwise constructed or provided. • The property owners within the PID have control over the types of improvements, level of maintenance and amount of assessments to be levied upon them. How to Create a Public Improvement District • Petition must state – General purpose – Estimated costs – Boundaries – Management – Assessment rate & collection Establishing a Public Improvement District Petitions must be signed by the owners of the properties being assessed 1. Owners of taxable real property representing more than 50% of the appraised value; AND 2. Must represent more than 50% of the area OR 50% of the owners of record 3. COA - Shall reflect a reasonable attempt was made to obtain full support of the property owners Downtown PID Petition - 2013 Property tax account number: _____________________________________________________ Property address: _______________________________________________________________ PETITION FOR CONTINUATION OF AUSTIN DOWNTOWN PUBLIC IMPROVEMENT DISTRICT TO THE HONORABLE MAYOR AND CITY COUNCIL OF THE CITY OF AUSTIN, TEXAS: The undersigned (the "Petitioners"), holding title to land within the area described on the map attached hereto as Exhibit A ("Downtown Austin"), acting pursuant to the provisions of Chapter 372, Vernon's Texas Code Annotated, Texas Local Government Code (the "Act"), respectfully petition the City Council of the City of Austin, Texas (the "City" or "City of Austin"), for the continuation and re-establishment of a public improvement district (the "District") and present the following information concerning the District: CERTIFICATE AS TO AUTHORITY OF SIGNER TO BE COMPLETED BY THE CHAIRMAN OF THE BOARD, THE PRESIDENT, A VICE PRESIDENT, THE SECRETARY, OR ANOTHER AUTHORIZED OFFICER OF, OR AUTHORIZED LEGAL COUNSEL TO, THE OWNER IF THE OWNER IS A CORPORATION, OR BY A GENERAL PARTNER OF, OR AUTHORIZED LEGAL COUNSEL TO, THE OWNER IF THE OWNER IS A PARTNERSHIP, OR A MANAGER OR MANAGING MEMBER OR, OF AUTHORIZED LEGAL COUNSEL TO, THE OWNER IF THE OWNER IS A LIMITED LIABILITY COMPANY,AND IF THE PETITION IS COMPLETED …
DRAFT | August 18, 2020 DRAFT | August 18, 2020 DRAFT | August 18, 2020 South Central Waterfront 2020 South Central Waterfront Vision Framework Plan Update DRAFT | August 18, 2020 DRAFT | August 18, 2020 Table of Contents 2 5 8 25 48 Introduction Physical Framework Financial Framework Appendices City Leadership : Implementation Priorities DRAFT | August 18, 2020 DRAFT | August 18, 2020 DRAFT | August 18, 2020 Introduction1 ● ● ● ● WHAT IS IN THIS UPDATE DRAFT | August 18, 2020 DRAFT | August 18, 2020 DRAFT | August 18, 2020 ● ● ● ● R R D D T T F F A A ○ ○ ● ● ● R R D D T T F F A A Executive Summary | Introduction | Physical Framework | Financial Framework | City Leadership | Appendices # Executive Summary | Introduction | Physical Framework | Financial Framework | City Leadership | Appendices # DRAFT | August 18, 2020 DRAFT | August 18, 2020 DRAFT | August 18, 2020 DRAFT | August 18, 2020 2016 SCW VISION FRAMEWORK PLAN T T F F A A R R D D T T T T T T T T T T T T T T T T T T T T T T F F F F F F F F F F F F F F F F F F F F F F ● ● ● ● A A A A A A A A A A A A A A A A A A A A A A $ R R R R R R R R R R R R R R R R R R R R R R D D D D D D D D D D D D D D D D D D D D D D Executive Summary | Introduction | Physical Framework | Financial Framework | City Leadership | Appendices Executive Summary | Executive Summary | Introduction | Physical Framework | Financial Framework | City Leadership | Appendices | Physical Framework | Financial Framework | City Leadership | Appendices # # Executive Summary | Introduction | Physical Framework | Financial Framework | City Leadership | Appendices # 2016 SCW PLAN : IMPLEMENTATION STEPS DRAFT | August 18, 2020 DRAFT | August 18, 2020 DRAFT | August 18, 2020 WHAT HAS BEEN ACCOMPLISHED SO FAR SOUTH CENTRAL WATERFRONT ADVISORY BOARD …
DRAFT | August 18, 2020 DRAFT | August 18, 2020 DRAFT | August 18, 2020 South Central Waterfront 2020 South Central Waterfront Vision Framework Plan Update DRAFT | August 18, 2020 DRAFT | August 18, 2020 Table of Contents 2 5 8 25 48 Introduction Physical Framework Financial Framework Appendices City Leadership : Implementation Priorities DRAFT | August 18, 2020 DRAFT | August 18, 2020 DRAFT | August 18, 2020 Physical Framework 2 ● ● ● 2016 SCW PHYSICAL FRAMEWORK KEY PLACEMAKING OPPORTUNITIES DRAFT | August 18, 2020 DRAFT | August 18, 2020 DRAFT | August 18, 2020 DRAFT | August 18, 2020 ● ● ● T T T T T T T F F F F F F F A A A A A A A R R R R R R R D D D D D D D T T T T T F F F F F A A A A A R R R R R D D D D D Executive Summary | Introduction | Physical Framework | Financial Framework | City Leadership | Appendices # Executive Summary | Introduction | Physical Framework | Financial Framework | City Leadership | Appendices # 2020 MODIFIED SCW PHYSICAL FRAMEWORK DRAFT | August 18, 2020 DRAFT | August 18, 2020 DRAFT | August 18, 2020 DRAFT | August 18, 2020 ○ ○ ○ ○ ○ ○ ● ● ● ● R R R R R R R R R R R R R R D D D D D D D D D D D D D D T T T T T T T T T T T T T T F F F F F F F F F F F F F F A A A A A A A A A A A A A A T T F F A A R R D D Executive Summary | Introduction | Physical Framework | Financial Framework | City Leadership | Appendices # Executive Summary | Introduction | Physical Framework | Financial Framework | City Leadership | Appendices Executive Summary | Introduction | Executive Summary | Introduction | Physical Framework | Financial Framework | City Leadership | Appendices | Financial Framework | City Leadership | Appendices # # 2020 MODIFIED CIRCULATION + TRANSPORTATION DRAFT | August 18, 2020 DRAFT | August 18, 2020 DRAFT | August 18, 2020 2020 UPDATED TRANSIT MAP T T …
SOUTH CENTRAL WATERFRONT ADVISORY BOARD APPROVED MINUTES FOR AUGUST 19, 2020 AT 10:00 AM The South Central Waterfront Advisory Board convened in a Special Meeting on August 19, 2020 via Videoconferencing. Chair Samuel Franco called the meeting to order at 10:08 a.m. Board Members in attendance: Ex Officios: Chair Samuel Franco (Design Commission) Vice Chair Lynn Kurth (Mayor & District 9 Appointee) Greg Anderson (Planning Commission) Linda Guerrero (Environmental Commission) Francoise Luca (Parks & Recreation Board) Karen Paup (Affordable Housing Rep) Wendy Price Todd (S. River City NA) Alfred Godfrey (Trail Foundation) 1. APPROVAL OF MINUTES AND ACTION Molly Alexander (DAA) Sam Tedford (NHCD) Nazlie Saeedi (ATD) Marek Izydorczyk (ORES) Rolando Fernandez (FSD) City of Austin Planning & Zoning Staff: Alan Holt, Executive Liaison Sravya Garladenne, Staff Liaison a. Board Member Al Godfrey made a motion, seconded by Board Member Wendy Price Todd, to approve the draft July 20, 2020 SCWAB meeting minutes. The motion to approve passed with 6 yes and 3 absent (includes late arrival Linda Guerrero and Karen Paup and absentee Jeff Seiden) votes. 2. ITEMS FOR DISCUSSION AND POSSIBLE ACTION a. Election of Officers – Board Member Wendy Price Todd, seconded by Board Member Greg Anderson, nominated Chair Samuel Franco for the office of SCWAB Chair. The motion to approve passed with 7 yes and 2 absent (includes late arrival Karen Paup and absentee Jeff Seiden) votes. Chair Samuel Franco, seconded by Board Member Wendy Price Todd, nominated Vice Chair Lynn Kurth for the office of SCWAB Vice Chair. The motion to approve passed with 7 yes and 2 absent (includes late arrival Karen Paup and absentee Jeff Seiden) votes. 3. ITEMS FOR PRESENTATION AND DISCUSSION a. DAA Presentation on SCW PID – Molly Alexander, SCWAB Ex Officio Member and Executive Director of DAA Foundation, gave a presentation on the DAA Public Improvement District and its role in the SCW District. The Board discussed this but no action was taken. b. Draft 1 Book: 2020 SCW Implementation Update - Executive Liaison and SCW Project Manager, Alan Holt, gave an update on the status of the first draft of the 2020 SCW Vision Framework Plan Update book. The Board discussed this but no action was taken. The City of Austin is committed to compliance with the American with Disabilities Act. Reasonable modifications and equal access to communications will be provided upon request. Meeting locations are planned with …
Regular Meeting of the South Central Waterfront Advisory Board July 20, 2020 South Central Waterfront Advisory Board to be held on July 20, 2020, with Social Distancing Modifications Public comment will be allowed via telephone; no in-person input will be allowed. All speakers must register in advance (Sunday, July 19 by Noon). All public comment will occur at the beginning of the meeting. To speak remotely at the July 20 South Central Waterfront Advisory Board Meeting, residents must: Call or email the board liaison at (512)-974-3362 or Sravya.garladenne@austintexas.gov no later than noon, July 19, 2020. The information required is the speaker name, item number(s) they wish to speak on, whether they are for/against/neutral, and a telephone number or email address. Once a request to speak has been called in or emailed to the board liaison, residents will receive either an email or phone call providing the telephone number to call on the day of the scheduled meeting. Speakers must call in at least 15 minutes prior to meeting start in order to speak, late callers will not be accepted and will not be able to speak. Speakers will be placed in a queue until their time to speak. Handouts or other information may be emailed to Sravya.garladenne@austintexas.gov by Noon the day before the scheduled meeting. This information will be provided to Board and Commission members in advance of the meeting. The City of Austin is committed to compliance with the American with Disabilities Act. Reasonable modifications and equal access to communications will be provided upon request. Meeting locations are planned with wheelchair access. If requiring Sign Language Interpreters or alternative formats, please give notice at least 2 days before the meeting date. For information, please contact Sravya Garladenne in the Planning and Zoning Department at sravya.garladenne@austintexas.gov or (512) 974-3362. TTY users route through Relay Texas at 711. SOUTH CENTRAL WATERFRONT ADVISORY BOARD MONDAY, JULY 20, 2020 AT 10:00 AM VIA VIDEOCONFERENCING Board Members: ___ Chair Samuel Franco (Design Commission) ___ Vice Chair Lynn Kurth (Mayor & District 9 Appointee) ___ Greg Anderson (Planning Commission) ___ Linda Guerrero (Environmental Commission) ___ Francoise Luca (Parks & Recreation Board) ___ Karen Paup (Affordable Housing Rep) ___ Wendy Price Todd (S. River City NA) ___ Jeff Seiden (Bouldin Creek NA) ___ Alfred Godfrey (Trail Foundation) Ex Officios: ___ Sam Tedford (NHCD) ___ Nazlie Saeedi (ATD) ___ Gloria Aguilera (ORES) …
SOUTH CENTRAL WATERFRONT ADVISORY BOARD DRAFT MINUTES FOR MAY 18, 2020 AT 10:00 AM The South Central Waterfront Advisory Board convened in a Regular Meeting on May 18, 2020 via Videoconferencing. Chair Samuel Franco called the meeting to order at 10:06 a.m. Board Members in attendance: Ex Officios: Chair Samuel Franco (Design Commission) Vice Chair Lynn Kurth (Mayor & District 9 Appointee) Greg Anderson (Planning Commission) Francoise Luca (Parks & Recreation Board) Karen Paup (Affordable Housing Rep) Wendy Price Todd (S. River City NA) Alfred Godfrey (Trail Foundation) Cory Walton (Bouldin Creek NA) 1. APPROVAL OF MINUTES AND ACTION Molly Alexander (DAA) Sam Tedford (NHCD) Nazlie Saeedi (ATD) Marek Izydorczyk (ORES) Rolando Fernandez (FSD) City of Austin Planning & Zoning Staff: Alan Holt, Executive Liaison Sravya Garladenne, Staff Liaison Jodi Lane, Staff Liaison a. Board Member Al Godfrey made a motion, seconded by Vice Chair Lynn Kurth, to approve the draft April 20 and April 24, 2020 SCWAB meeting minutes. The motion to approve passed with 8 yes and 1 absent (includes absentee Linda Guerrero) votes. 2. ITEMS FOR DISCUSSION AND POSSIBLE ACTION a. Update on SCW Financial Framework – SCW Consultant, Ian Carlton from ECONorthwest, OR, gave a presentation on the SCW Financial Framework and discussed overarching takeaways from the financial modeling. The Board discussed this but no action was taken. 3. PROJECT UPDATES AND COMMUNICATIONS FROM STAFF a. Memo to SCWAB - Written update only from Staff – The Board acknowledged the written update from Executive Liaison Alan Holt. No action was taken. 4. ADJOURNMENT - with no objections, Chair Samuel Franco adjourned the meeting at 11:39am. The City of Austin is committed to compliance with the American with Disabilities Act. Reasonable modifications and equal access to communications will be provided upon request. Meeting locations are planned with wheelchair access. If requiring Sign Language Interpreters or alternative formats, please give notice at least 2 days before the meeting date. For information, please contact Alan Holt in the Planning and Zoning Department at alan.holt@austintexas.gov or (512) 974-2716. TTY users route through Relay Texas at 711.
Regular Meeting of the South Central Waterfront Advisory Board July 20, 2020 South Central Waterfront Advisory Board to be held on July 20, 2020, with Social Distancing Modifications Public comment will be allowed via telephone; no in-person input will be allowed. All speakers must register in advance (Sunday, July 19 by Noon). All public comment will occur at the beginning of the meeting. To speak remotely at the July 20 South Central Waterfront Advisory Board Meeting, residents must: Call or email the board liaison at (512)-974-3362 or Sravya.garladenne@austintexas.gov no later than noon, July 19, 2020. The information required is the speaker name, item number(s) they wish to speak on, whether they are for/against/neutral, and a telephone number or email address. Once a request to speak has been called in or emailed to the board liaison, residents will receive either an email or phone call providing the telephone number to call on the day of the scheduled meeting. Speakers must call in at least 15 minutes prior to meeting start in order to speak, late callers will not be accepted and will not be able to speak. Speakers will be placed in a queue until their time to speak. Handouts or other information may be emailed to Sravya.garladenne@austintexas.gov by Noon the day before the scheduled meeting. This information will be provided to Board and Commission members in advance of the meeting. The City of Austin is committed to compliance with the American with Disabilities Act. Reasonable modifications and equal access to communications will be provided upon request. Meeting locations are planned with wheelchair access. If requiring Sign Language Interpreters or alternative formats, please give notice at least 2 days before the meeting date. For information, please contact Sravya Garladenne in the Planning and Zoning Department at sravya.garladenne@austintexas.gov or (512) 974-3362. TTY users route through Relay Texas at 711. SOUTH CENTRAL WATERFRONT ADVISORY BOARD MONDAY, JULY 20, 2020 AT 10:00 AM VIA VIDEOCONFERENCING Board Members: ___ Chair Samuel Franco (Design Commission) ___ Vice Chair Lynn Kurth (Mayor & District 9 Appointee) ___ Greg Anderson (Planning Commission) ___ Linda Guerrero (Environmental Commission) ___ Francoise Luca (Parks & Recreation Board) ___ Karen Paup (Affordable Housing Rep) ___ Wendy Price Todd (S. River City NA) ___ Jeff Seiden (Bouldin Creek NA) ___ Alfred Godfrey (Trail Foundation) Ex Officios: ___ Sam Tedford (NHCD) ___ Nazlie Saeedi (ATD) ___ Gloria Aguilera (ORES) …
DATE: TO: FROM: SUBJECT: Updated 2020 SCW Financial Tool – Key Takeaways and Technical Methods June 16, 2020 Alan Holt, City of Austin Ian Carlton and Emily Picha Background and Purpose Since Summer 2019, ECONorthwest has been helping the City of Austin update prior financial analyses of the 2016 South Central Waterfront Vision Framework Plan (SCW Framework Plan). Our work has focused on defining scenarios to aid decision makers and the Planning & Zoning Department with a final calibration of opt-in zoning (i.e., South Central Waterfront Regulating Plan, or SCW Regulating Plan), which could contribute to a Tax Increment Reinvestment Zone (TIRZ) Financing Plan produced by others. This memorandum provides a summary of our approach, key findings, and policy considerations. Our work built upon initial feasibility modeling from the SCW Framework Plan. To evaluate potential regulatory policies and incentives, ECONorthwest developed a parcel-based pro forma model that looked at the feasibility of potential development across the South Central Waterfront. This 2020 Financial Tool included updated assumptions and methods to provide greater clarity to City Council about potential development feasibility when considering policy options. The COVID-19 pandemic has created uncertainty for the future of the district and its timeline for development. From the creation of the SCW Framework Plan in 2016 until 2019, the District saw increased developer interest in a distinct mix of uses, but construction costs in the Austin market were also increasing rapidly. Over the next few years, demand remains uncertain. For example, construction costs may stabilize with fewer project starts, but construction costs seldom decline. Regardless of this uncertainty, developing a flexible implementation plan and associated policies can prepare the SCW to attract new development in the future. ECONorthwest | Portland | Seattle | Los Angeles | Eugene | Boise | econw.com 1 Methods and Approach The 2020 Financial Tool provided a snapshot look at the district buildout, as though all development delivered simultaneously under market conditions in late 2019 and early 2020 (ECONorthwest vetted assumptions with local developers and property owners in 2019 and the City of Austin and Endeavor provided cost information in 2020). To conduct this analysis, ECONorthwest used parcel-based pencil- outs to consider multiple “input scenarios.” The input scenarios included plan entitlements, infrastructure costs, affordable housing, and bonus participation fees. We modeled three buildout scenarios: MODEL ASSUMPTIONS • 2016 SCW Framework Plan entitlements • Late 2019 market conditions (costs and revenues) • 305 …
