The Edinburg city council approved the issuance of $23 million in certificates of obligation for several projects that are largely aimed at revitalizing the city’s downtown.
To applause from local business owners and advocates for the arts, the Edinburg councilmembers unanimously voted to issue the CO bonds for the construction of a new cultural, arts and event center and a new parking facility during meeting held Tuesday.
Part of those funds will go toward the cultural center, or the A.C.E. Center, which will be located at the old Sam Houston Elementary School near city hall.
The $14 million project which will focus on expanding and renovating the old school building which, once completed, is expected to serve as a venue for conferences, exhibits, performances and community events. It will also serve as an annex for city hall, according to a news release issued by the city.
The center will be part of a downtown block that will feature an amphitheater, an interactive watergarden, a sculpture garden and “other greenspace amenities.”
For another $10 million, the city will build the three-story parking facility that will include mixed-retail space.
Another $8 million will be utilized for street expansions and for downtown beautification such as street signage and sidewalk improvements.
From the $23 million that the city will fund, $7 million will be used for the A.C.E Center, $8 million will go towards the parking garage, $2 million will be for beautification improvements, and $6 million will be used for street expansions, according to City Manager Ron Garza’s presentation to the council during Tuesday’s meeting.
In addition to those funds, the Edinburg Economic Development Corporation will provide $9 million for those projects.
Of those funds, $7 million will come from non-taxable sales tax bonds for the A.C.E Center and $2 million will come from taxable sales tax bonds which will go toward the parking garage.
In their news release, the city said the CO bonds would not increase city taxes or raise service fees for residents. Before the final vote, members of the city’s cultural arts board spoke in favor of the bonds during the public comment portion of the meeting.
“This complex has been a dream for our community for well over 15 years and nowhere in the city do we have a facility anywhere like this,” said Kimberly Selber, an appointed member of the board. “Our young adults are craving a lifestyle that includes a community that values the arts, culture, entertainment and we want them to find that lifestyle here in Edinburg, not to leave and set down roots in another community.”
