AGENDA CAPTION:
Title
Consider approval, by motion, authorizing negotiations with Franklin Mountain San Marcos I, LP to amend the (SMART Terminal) Chapter 380 Economic Development Incentive and ETJ Development Agreement previously approved by City Council to among other things, remove references to the incentive for the Katerra project and include acreage previously approved under the Cotton Center Development Agreement, and consider the appointment of a Council Committee to review the aforementioned Development Agreement, if desired.
Body
Meeting date: August 2, 2022
Department: Planning & Development Services
Amount & Source of Funding
Funds Required: N/A
Account Number: N/A
Funds Available: N/A
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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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Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
? Economic Development - Diverse Local Economic Environment
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? Land Use - Direct Growth, Compatible with Surrounding Uses
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Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
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Background Information:
On December 6, 2016 City Council approved a development agreement for approximately 2,358 acres for a project called Cotton Center.
On March 19, 2019 City Council approved a Chapter 380 Economic Development Incentive and ETJ Development Agreement for approximately 889 acres for a project called SMART Terminal.
The current applicant has acquired the SMART Terminal land, approximately 660 acres of Cotton Center, and an additional 511 acres adjacent to these propos...
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