Consideration of and action on authorization of a Contract with Stantec Consulting Services, Inc., in the amount of $109,560.00, to complete a Planning and Economic Feasibility Study for the Tract 5 Catalyst Site; and authorization of an Amendment to the Tax Increment Reinvestment Zone No. 4 Fiscal Year 2023 Budget, in the amount of $109,560.00.

Approval of the TIRZ 4 FY23 budget amendment in the amount of $109,560.00; and contract approval for the Tract 5 Economic & Urban Design Study with Stantec Consulting Services Inc.

Due to the recent land acquisitions within TIRZ 4, specifically the area known as Tract 5, the City of Sugar Land is recommending contracting Stantec Consulting Services Inc. (Stantec) to complete a planning and economic feasibility study for 83-acres within Tract 5; see Exhibit A in the attached scope for the specific area. This study will aim to ensure future enhancements, both public and private, and align with the community and stakeholder vision for the area - with market-driven recommendations.

Elements of the project will include:

• Identifying priorities and strategic opportunities to encourage appropriate development, improve underutilized spaces, and activate civic assets to their highest and best uses.
• Identifying best practices for continued efforts to make Sugar Land Tract 5 a more livable, walkable and thriving town center.
• Driving investment opportunities to Sugar Land Tract 5 and maximizing on the return of public and private investments.
• Integrating and synchronizing the aesthetics and amenities of both public and private investments in Sugar Land Tract 5.

Stantec will conduct an urban design and economics study to depict the building masses, land uses, and overall site programming. Additionally, they will develop a series of plans, renderings, financial analysis, and fiscal impact analysis studies for the Tract 5 site. Stantec will reference Sugar Land’s current Land Use and Comprehensive Plan but has been instructed to define a set of assumptions that work best for each sub-parcel site. The estimated timeline for this study is twelve (12) weeks and will include engagement with current landowners, community stakeholders and a resident focus group.

The TIRZ 4 board approved the budget amendment on April 17th.  City staff recommends approval of the TIRZ 4 FY23 budget amendment in the amount of $109,560.00 ($99,600.00 + 10%) from the fund balance to Support Services; and approval of the Tract 5 Economic & Urban Design Study with Stantec Consulting Services Inc.