Verano A&M Bd Regents 5.22.08 corrected final (1)

Board of RegentsTexas A&M University System

May 22, 2008

Conceived as the heart of San Antonio’s City South

Building on the Southside’s history of ruralism

Adding to the momentum of Toyota

Connected to the rest of the Region—the IH35 Corridor and Future Commuter Rail

Utilizing City South’s vision of urbanism to achieve a true University Community

... a place, such as the university community of Harvard-Cambridge

The Master Plan

DEVELOPMENT OVERVIEW

Integrated urban village on 2,700 acres in City South, San Antonio

Uses SmartCode urban planning, providing greater density yields and economies of scale

Projected Usage:

Residential Neighborhoods 500 acresHigh Density Residential 55 acresTown center 88 acresCommercial 115 acresIndustrial 640 acresSports Complex 92 acresHospital Complex 65 acresTexas A&M University – San Antonio 694 acres

PROJECTED CONSTRUCTION

6,938Total Units

1,078High Density Apt

297Low Density Apt

2,000Student Housing Apt

5,977,200Total Square Footage700Loft

200,000Institutional Support321Townhome

3,136,320Industrial1,070Garden Lot

1,245,440Retail/Restaurant

1,134Small Lot (affordable)

1,395,440Office Space338Large Lot

Square Footage

Non-ResidentialUnitsResidential

Verano’s Program

• Texas A&M University-San Antonio

• Town Center &

Rail Station

• Teaching Hospital & RetirementLiving

• Sports Complex(community shared use)

• Technology Research Center

• Mixed Use Neighborhoods w/schools

Toyota

-

Walkable, connected and green neighborhoods

-

-

FINANCIAL PROJECTIONS

Captured Value at Buildout (2037 w/no inflation) $1.7 BillionValue at Buildout with 3% inflation $3.2 Billion

Public Infrastructure Improvement costs $499 MillionDoes not include TAMU-SA Campus infrastructure nor $15 million City contribution for roads

Projected TIF Revenue $250 MillionBased on following participation: San Antonio, Bexar County, Alamo Community College Dist. and S.A. River Authority

Developer’s Non-Reimbursed Cost $249 MillionDoes not include additional $124 Million in potential financing costs and administrative expenses

Estimated Employment within Verano (at buildout)

16,7606158,9614,4482,736

1,202

1,558

1,699

2,144

1,898

1,669

1,615

1,615

1,389

1,076

897

0

0

Total

610

717

717

1,039

1,039

896

896

896

896

717

538

0

0

Industrial/Research

123

123

123

246

0

0

0

0

0

0

0

0

0

Institutional

16,7602771922022

15,5594452742021

14,0005303282020

12,3025303282019

10,1585303282018

8,2604453282017

6,5914452742016

4,9764452742015

3,3623561372014

1,9732221372013

8972221372012

0002011

0002010

Cumulative Total

OfficeRetail/RestaurantYear

Note: The vast majority of jobs indicated above are attributable to commercial activity in the Verano development, although some percentage of these jobs will be due to the presence of TAMU-SA.(See employment figures due to TAMU-SA on subsequent slide.)

Estimated Total Employment Impact of TAMU-SA (at buildout)

10,197Total

291Other services

547Accommodation & food services

136Arts, entertainment, and recreation

551Health care and social assistance

6,249Educational services

436Administrative & waste services

47Management of companies

209Professional & scientific services

301Real estate and rental and leasing

212Finance and Insurance

149Information

169Transportation & warehousing

493Retail trade

100Wholesale trade

173Manufacturing

51Construction

27Utilities

5Mining

51Agriculture, etc.

EmploymentIndustry Sector

Community Character

Neighborhood variety is the key to growing and sustaining the university community

The TAMU-SA Campus

DONATION

Donation Agreement signed by TAMUS and Verano on July 13, 2007

On September 26, 2007, Verano donated the first 50 acres

Impact (when fully operational)Enrollment 25,000 studentsPermanent Jobs 10,200Annual direct spending $329 MillionAnnual economic activity $790 Million

Land Donation (donated without cost)“Gateway” Property - 10 acresMain Campus - 580 acresIrrigation Technology Center - 104 acresTotal: 694 Acres

MOU COMMITMENTS

City Public Service (CPS) EnergyProvide CEID fundsProvide power infrastructure to TAMU-SA for electric and gas

TAMUSPursued $40 million from Legislature for building construction(79th Legislature authorized $40 million TRB’s, subject to achieving 1,500 FTE students by January 1, 2010)(Spring semester 2008 total student enrollment = 1,018 and FTE students = 626)

City of San AntonioProvide $15 million for infrastructureImplement SmartCode for entitlementsConsidering other dvlpmt. incentives

VeranoDonate land (694 acres)Undertake improvements projectsTAMU-SA Scholarship Fund-Donate $1 million-Assist in raising additional $7 million

HISTORY

July 2007 Present MOU/Donation Agreement to Bd. of RegentsAugust 2007 Present MOU to City Council for considerationSept 6, 2007 MOU signedSept 26, 2007 Verano donates initial land to TAMUSOctober 2, 2007 Briefing to City and other taxing entities October 16, 2007 Briefing to Southwest Independent School District October 16, 2007 Briefing to Alamo Community College District October 23, 2007 Briefing to Bexar County Commissioners CourtOctober 25, 2007 Briefing to Southside Independent School District December 6, 2007 Ordinance designating TIRZ No. 28

Agreement for use of $500,000 design fundsVerano zoning ordinance (use of SmartCode)

FUTURE EVENTS

July 2008 Verano completes $1 million scholarship donation

Verano donates remainder of 694 acres to TAMUS

Early 2009 Achieve $8 million for TAMU-SA Scholarship Fund

2009 Construct North-South Boulevard and start constructionof East-West Arterial upon enrollment of 1,500 FTE students

Provide utility infrastructure to all TAMU-SA locations

Commence construction of main campus building(s) upon enrollment of 1,500 FTE students

Verano and San Antonio are ready for the birth of Texas A&M-San Antonio.