From: The San Antonio Report
The San Antonio City Council approved an agreement with the San Antonio Spurs organization Thursday to contribute up to $17 million in tax rebates for a proposed new development and practice facility on the far Northwest Side.
The Chapter 380 Economic Development Grant Agreement with Spurs, Sports & Entertainment (SS&E) includes a 20-year, 60% tax rebate and a five-year recapture period to support construction of a total $510 million Human Performance Research Center (HPRC) and other public and commercial spaces.
The development is being led by SS&E, in partnership with the Dallas-based real estate services firm Lincoln Property Company, and will feature half-a-million square feet of restaurant, retail, and commercial space, including the state-of-the-art Spurs Performance Center, a research institute, outdoor plaza, and retail and medical office space.
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