Balcones Heights 380 Agreement
Knudson, LP was instrumental in the design, financing, and project advocacy this project required. Working with the City of Balcones Heights and the San Antonio Transportation Authority (VIA), Knudson, LP negotiated a performance-based reimbursement of sales and property tax increases to offset the costs of development by $25 million over a 25 year period.
The project involved creating a detailed financial analysis, complete with the sales tax, property tax, and cost projections; meetings with City officials to educate them about Chapter 380 capabilities and process; and presentation of the proposed development concept and financing methods to the City Council for approval.
Another significant portion of this project was the coordination of the design of a bus/rapid transit (BRT) hub to serve the center and VIA’s long-term plans. The center will be used as a crucial connector between skilled labor force and the San Antonio Medical Center.