SAN ANTONIO – The San Antonio Independent School District Board of Trustees unanimously approved the sale of a critical piece of land for a new ballpark, set to be the future home of the San Antonio Missions.
The board approved the resolution to sell the ballpark to Bexar County at its Monday meeting, after discussing it in closed session.
The $160 million, 4,500-seat stadium will replace the aging Wolff Stadium, which does not meet current facility standards.
According to the Board Resolution, San Antonio ISD will receive the following in exchange for selling the land to Bexar County:
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Access to use the ballpark for district purposes
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Land for a new parking garage near the Fox Tech campus, “including the construction, use and eventual ownership”
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Bexar County will alleviate parking fees at the Quincy Street garage for the district and allow it to have more operational control
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Land for a new Advanced Learning Academy expansion
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A commitment from Bexar County to adopt a 5-year plan for affordable housing goals by Dec. 31
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SAISD will be allowed to appoint a member to the San Antonio Housing Trust and Foundation
The project will be largely funded by bonds through the newly created San Pedro Creek Development Authority and a $34 million equity contribution from Designated Bidders.
The bonds will be repaid through a combination of $1 million annual lease payments, $2 ticket fees and property tax revenue funneled through the Houston Street Tax Increment Reinvestment Zone (TIRZ).
The TIRZ money is expected to be largely generated by new projects built by the team’s developer partner, Weston Urban, whose co-founders, Randy Smith and Graham Weston, are also part of the Missions’ ownership group.
The ballpark is being designed by architectural firm Populous, which designed the Sphere in Las Vegas and multiple stadiums for MLB teams. The Missions said in April they expect design renderings to be completed this summer.
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