San Marcos Mayor Susan Narvaiz. City of San Marcos photo.
San Marcos Mayor Susan Narvaiz announced Wednesday that she will hold a “public education forum” on economic development, the redevelopment of Springtown Mall and the Alamo Drafthouse proposal Saturday at City Hall.
The session will begin at 10 a.m.
The city is considering a $2.5 million loan, interest free, to Triple Tap Ventures, which would place an Alamo Drafthouse Cinema in the former Best Buy building at Springtown Mall. Triple Tap wouldn’t pay back the loan, but the city would accept as repayment a portion of the increased taxes generated from property improvements. At last week’s San Marcos City Council meeting, Narvaiz characterized the proposal as a “grant.”
The public is invited to attend in the city council chambers. Narvaiz said she will conduct several similar sessions during the next few weeks.
“We want to have community discussions on the big picture of economic development in San Marcos,” Narvaiz said. “The city council’s goal is to support economic development that improves our economy and creates jobs. This briefing will give us the opportunity to discuss issues associated with redevelopment — including the impact if redevelopment doesn’t happen.”
The briefing will include information on past economic development initiatives, what redevelopment involves, and Mall proposals.
At its meeting last week, the city council tabled the $2.5 million incentive proposal to Triple Tap. Similar proposals for the Springtown Mall redevelopment failed last summer after citizens objected to the terms.
Lamy-Springtown Mall went into foreclosure on two parcels of the Springtown property in February.
The newest proposal is not specifically on the city council’s agenda for next Tuesday, though deliberations about “possible incentives to entities considering locating or expanding in the San Marcos community” are on the executive session portion of the agenda. An item on the open meeting agenda calls for the council to consider possible action on matters discussed in executive session.
The Saturday session is not a city council meeting, so no action will be taken. However, the meeting has been posted by the city clerk for a potential city council quorum.Email | Print