Posting Language
Title
Approve an ordinance amending the Fiscal Year 2025-2026 Austin Financial Services Capital Budget (Ordinance No. 20250813-005) to increase appropriations by $1,079,193 available from the land sale proceeds at the St. John Site located at 800 E. St. Johns Avenue, Austin, Texas 78752 to support investment in connectivity, accessibility, and amenities in the historic St. John Neighborhood. Funding: $1,079,193 is available in the Capital Budget of Austin Financial Services. Related to Item #2 and #3.
De
Lead Department
Austin Financial Services.
Fiscal Note
Funding is available in the Capital Budget of Austin Financial Services. A fiscal note is attached.
Prior Council Action:
March 12, 2026 - Council approved an amendment to the Master Development Agreement and related agreements with Greystar Development Central, LLK and the Housing Authority of the City of Austin for the St. John Site.
October 5, 2023 - Council approved a multifamily and commercial development of the St. John Site.
For More Information:
Kim Olivares, Director Financial Services, Kim.Olivares@austintexas.gov or 512-974-2609 and Christine Freundl, Redevelopment Project Manager, Christine.Freundl@austintexas.gov or 512-974-7147.
Additional Backup Information:
This budget amendment will support investment in the historic St. John Neighborhood to improve connectivity and accessibility to existing community resources, as well as in the new amenities being delivered through the St. John Site Redevelopment, a 19-acre City-owned property located at 800 E. St. Johns Avenue, Austin, Texas 78752. These funds will be received as part of the sale of the St. John Site to a Public Facilities Corporation controlled by the Housing Authority of the City of Austin. The fund amount reflects an $11M upfront payment as required by the Term Sheet less remaining bond debt, remaining interest, and administrative costs associated with the defeasement of the remaining bond debt on the site.
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