Posting Language
Title
Approve a resolution authorizing the defeasance of certain outstanding 2025 General Obligation Public Improvement and Refunding Bonds in an amount not to exceed $5,000,000, including authorizing the negotiation and execution of an escrow agreement with U.S. Bank Trust Company, National Association, and related documents, in accordance with the Master Development Agreement with Greystar Development Central, LLC or its affiliates and the Housing Authority of the City of Austin or its affiliates, governing the sales, development, construction, ground lease, and lease of a mixed-use development on City-owned parcels located at 800 E. St. Johns Avenue, Austin, Texas 78752, (formerly 7309 and 7211 North IH-35), known as the St. John Properties. Funding: This item has no fiscal impact. Funding for the defeasance will be an upfront payment from a private developer partner, Greystar Development Central, LLC or its affiliates, as part of public-private partnership redevelopment of the St. John Properties. Related to Items #3 and #4.
Body
Lead Department
Austin Financial Services
Fiscal Note
This item has no fiscal impact. Funding for the defeasance will be an upfront payment from a private developer partner as part of public-private partnership redevelopment of approximately 19 acres of City-owned land located at 800 E. St. Johns Avenue, Austin, Texas 78752 (formerly 7309 and 7211 North IH-35).
For More Information:
Belinda Weaver, Treasurer, 512-974-7885.
Council Committee, Boards and Commission Action:
June 16, 2022 - Council approved Resolution No. 20220616-088 related to the community vision for St. John Property and the sale of the St. John Property to a public facility corporation controlled by the Housing Authority of the City of Austin, with the City reserving the right to repurchase the property.
October 5, 2023 - Council approved the multifamily and commercial development at the St. John Site.
March 12, 2026 - Council ap...
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