Leonard

Well I hope we get to find out exactly how much the City pays for this 380. The Kroger one is awful too even though it does have some schedule and a fixed interest rate. The HEB one is just ridiculous.

JJxvi: 380 bad.

Yes, I am arguing that the $6M is for water and sewer connections and traffic controls required by the TIA for the project. What do you think it's for?

Which minimum standards are exceeded?

There's nothing that compels Ainbinder to take out a single loan for the 380 items and the rest of the project. There is no cap on interest rate in the 380. Whether or not you think they will get a great interest rate does not change the fact that the contract does not protect the City. In fact, the 380 itself calls for 10% interest rate if the City does not pay on the 15 month anniversary.

The interest does not start accumulating when the Walmart opens, it starts accumulating when Ainbinder borrows it. Ainbinder started accumulating interest on the money they borrowed for the Koehler Street Extension over a year before construction started (they did not start construction for over a year after the 380 passed).

The Orr development started after the Ainbinder development. The Orr development is almost complete. Although there is no schedule in the 380, it's already too late for the Ainbinder development to open "on time".

Redscare, specifically what is "extreme exaggeration" about my post?

Bonner - they did not build the entire street.

The requirements are set by the City, not by what I think are minimum requirements or by what you observe at other developments.

They have to cut open the street to connect to water, sanitary sewer and storm sewer. They are required to connect to water, sanitary sewer and storm sewer by the City. The City doesn't let them leave the street cut open, therefore they are required to rebuild the street. A lot of this infrastructure runs under streets which is why the street has to be torn up and rebuilt.

They are required to install traffic control devices that are laid out in their Traffic Impact Analysis which the City also requires them to do.

Redscare, yes, but it is required.

They only replaced half of Bonner - because they only tore up half of Bonner to connect to the sanitary sewer. Half is not the entire street. At times they had no permits for this work.

They are doing some replacement of storm sewer infrastructure on Yale - but only because it is required to keep the development from flooding. This will hasten the flow of water from the development's parking lot to White Oak Bayou - causing more flooding issues for Woodland Heights. Lack of retention is grandfathered in.

The infrastructure being developed is so that the development can meet minimum standards.

"The 380 agreement allows the City to REPLACE the entire street, as well as REPLACE the water, sewer and storm water utilities."

Where did you get this information? The are connecting to existing infrastructure, not replacing it.

The City isn't doing this work - the developer is - and on their schedule. They are doing the minimum required for the development.

And not only is the amount of interest uncapped, so is the interest rate.

TheNiche - specifically what infrastructure are you talking about? The vast majority (90%) of the infrastructure is REQUIRED to build the development. The only reason they are repaving roads is because they HAVE to - they are digging up the roads to connect the development to the City water, storm sewer and sanitary sewer systems. Once you dig up the road, you are obligated to repair it. The Traffic Impact Analysis requires the Koehler Street extension and the traffic light at Yale and Koehler.

There are a few items thrown in that aren't required - the esplanande work, some park work and cosmetic work on the bridges. The cosmetic work on the Yale Street Bridge is extremely suspect from a financial point of view in light of the ratings for that bridge.