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Council committee backs $17.2 million amendment to Reed Street Yards TID
Summary
Departments presented an amendment to Reed Street Yards TID to fund $17.2M in public infrastructure (Neeland site development, 2nd Street reconstruction, roundabout safety, trail/rail changes and park improvements); staff said the TID still projects payoff in 2027 and generates $6–7M annually.
Dan Casanova of the Department of City Development reviewed proposed Amendment No. 4 to Reed Street Yards Tax Incremental District No. 75, a package of roughly $17.2 million in infrastructure investments intended to support ongoing downtown-adjacent redevelopment. Casanova outlined priority projects: infrastructure to make city-owned Neeland parcels developable, reconstruction of a damaged abutment section of 2nd Street beneath the railway, permanent safety and design work at the 6th Street roundabout, removal or mitigation of hazardous rail tracks crossing Canal Street, playground replacement at Clementina Castro Park and preliminary work to evaluate a parking structure in Walker's Point.
City Engineer Kevin Muse described the city's maintenance responsibility for the bridge abutments and the scope of planned repairs. Casanova told members the amendment would increase the TID's projected project cost to about $30 million but that the district is still projected to pay off in 2027 and currently generates between $6–7 million of annual increment. Alderman Jackson moved to recommend adoption and, hearing no objections, the committee ordered the recommendation.
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