AGENDA CAPTION:
Title
Consider approval of Resolution 2024-208R, on the second of two readings, approving a Chapter 380 Economic Development Incentive Agreement with HEB, LP., under the City Council's open solicitation and offer of incentives to grocery stores to locate in the city that provides incentives for HEB to construct a new grocery store at the southeast corner of IH-35 and McCarty Lane in the form of refunds of a percentage of additional property and sales taxes generated by the new store over five years; authorizing the City Manager, or her designee, to execute said agreement; and declaring an effective date.
Body
Meeting date: November 6, 2024
Department: City Manager's Office
Amount & Source of Funding
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Fiscal Note:
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City Council Strategic Initiative: [Please select from the dropdown menu below]
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Economic Vitality
Quality of Life & Sense of Place
Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
? Economic Development - Fiscally Responsible Incentives for Economic Development
? Environment & Resource Protection - Choose an item.
? Land Use - Choose an item.
? Neighborhoods & Housing - Choose an item.
? Parks, Public Spaces & Facilities - Choose an item.
? Transportation - Choose an item.
? Core Services
? Not Applicable
Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
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Background Information:
On May 7th, 2024, Council voted to adopt a resolution supporting tax incentives for grocery store development. In August, HEB submitted a request for incentives citing this resolution as having a direct and material impact on their decision to construct another ...
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