By CATHERINE
DONNELLY
Special to the PRESS
G.J. Palmer, Jr. of Queen Isabella Development approached Port Isabel’s City Council at the meeting on Thursday, Oct. 11. With the aid of a PowerPoint, his team led the City Council through the Port Isabel Queens Point Development Proposal to add a new state-of-the-art marina on a piece of land owned by Mr. Palmer where there was a marina many years ago. In addition, it is asking to lease some submerged land owned by the City (see map).
Greg Weykamp of Edgewater Resources showed the preliminary conceptual drawing of the project and discussed how it would be built to help preserve and enhance the existing coastline. Small berm barriers would help control waves and currents from dropping off sediment, lessening the need for regular dredging. This creates a more stable ecological environment and decreases the cost of ongoing upkeep.
The project’s aim would be to get more citizens access to the water. The mixed-use design could encompass residential spaces, a water-front hotel, a boardwalk, retail spaces for shops and eateries, and park-like areas throughout with places for people to rest and enjoy nature and the view. Only the boat slips and docks would be private outdoor spaces.
Weykamp suggested that this development could enable Port Isabel to create faster links for citizens and tourists to access Boca Chica and Space-X with a possible ferry, dramatically cutting down commute time. Other positive impacts include increased local jobs during construction and beyond.
Forming a Public Improvement District allows private funding for qualifying public projects with no cost to the City nor residents living outside of the PID. It is paid for through bonds which are applied for by the development company. Current taxpayers are not impacted.
Tax Increment Reinvestment Zones (TIRZ) are funded on a reimbursement basis by the increased property and sales taxes collected due to the project. The land for the project currently appraises at $55,269 for property tax purposes. The low estimate of the valuation after the project is complete is in excess of $2.1 million, for more than $2 million in increased property value.
Examples of similar marina projects would be Port of Rochester, NY, Frisco Bay Marina, CO and Ft. Pierce Living Breakwater, FL. City and citizen input is sought to make this project the best fit for Port Isabel.
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