CITY OF BRENHAM AGREES WITH DEVELOPER TO PLAN NEW SHOPPING CENTER
Update @ 7 p.m.: Following executive session Thursday, the Brenham City Council signed off on an agreement with a developer planning a new shopping center in town.
Mayor Milton Tate was authorized by the council to approve the economic development agreement with Baker Katz. The company is a developer based out of Houston, with upwards of 70 projects through the southeastern part of Texas.
The 35-acre shopping center is being planned for south of US Highway 290 East, at Chappell Hill Street. A site plan provided by the company includes numerous spaces for retail development.
Other Baker Katz projects have stores that feature both retail businesses and restaurants, such as Chick-fil-A and Hobby Lobby.
City Manager James Fisher said that this agreement will allow or encourage the development of 100,000 to 200,000 square feet of retail space. Per this development, based on how well it performs, the city will rebate a percentage of the sales tax that is generated, solely off of the developer’s project.
The resolutions passed at the council’s meeting state that, when the project is completed, its targeted value will be over $20 million benefitting taxing entities in Washington County. It will also look to produce around $400,000 in annual sales tax revenue for the city.
According to the resolutions, development is expected to include “a nationally known sports merchandising anchor” opening in early 2021, with “additional shopping and dining” by the end of 2021. This development will consist of “regionally or nationally recognized retailers and restaurants”.
This agreement is set to expire in 2033, or once the city has paid cumulative grant payments to Baker Katz totaling $6 million. These grant payments will be annual, and will start at $330,000, dropping below $300,000 on the sixth year of payments.
Baker Katz will also be responsible for completing a widening project for Chappell Hill Road by the beginning of 2022. In addition, it is stated the city, TxDOT and Baker Katz will work together to improve traffic flow at the site, by installing traffic signals and additional lanes underneath US Highway 290.
The city will also be working on utility extensions, including water and gas improvements, with costs estimated to exceed $1.48 million.
You can view the passed resolutions here.
Original Story: Following executive session Thursday, the Brenham City Council signed off on an agreement with a developer planning a new shopping center in town.
Mayor Milton Tate was authorized by the council to approve the economic development agreement with Baker Katz. The company is a developer based out of Houston, with upwards of 70 projects through the southeastern part of Texas.
The 35-acre shopping center is being planned for south of US Highway 290 East, at Chappell Hill Street. A site plan provided by the company includes numerous spaces for retail development.
Other Baker Katz projects have stores that feature both retail businesses and restaurants, such as Chick-fil-A and Hobby Lobby.