AGENDA CAPTION:
Title
Consider approval of Ordinance 2021-43, on the second of two readings, amending the official zoning map of the City in Case No. ZC-21-08 by rezoning approximately 29.66 acres of land, generally located 300 feet West of the of the Centerpoint Road and Centerpoint Court intersection, from "GC" General Commercial and "FD" Future Development Districts to "CD-4" Character District-4, or subject to consent of the owner, another less intense zoning district classification; including procedural provisions; and providing an effective date.
Body
Meeting date: July 6, 2021
Department: Planning & Development Services
Amount & Source of Funding
Funds Required: N/A
Account Number: N/A
Funds Available: N/A
Account Name: N/A
Fiscal Note:
Prior Council Action: Council discussed the development's financial structure and its seeming similarities to tax credit developments. Council then discussed the applicant's partnership with the San Marcos Housing Authority and how the project could be removed from the City's tax roll. Ultimately, Council approved the request, 5-2, with Councilmember Baker and Gonzales dissenting.
During the meeting City Council discussed tax assessments for the CD-4 area. While there are no developments in San Marcos substantially similar in design, based on potentially similar developments and International Construction Code valuations the taxes assessed for this property may range from approximately $175,000 to $239,000. The applicant indicated their tax estimate was over $300,000.
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