To: Mark R. Hafner, City Manager
From: Mary Culver, Director of Economic Development
Subject:
Title
Consider a resolution amending Resolution No. 4516, dated May 3, 2022, that approved a Chapter 380 Economic Development Program Agreement, pursuant to Chapter 380 of the Texas Local Government Code, and pursuant to the city’s Economic Development Incentive Policy, with KCS Hospitality Group, LTD., and authorizing the city manager to execute said documents on behalf of the City of Keller, Texas.
Body
Action Requested:
Consider amending the deadlines in the Chapter 380 Agreement with KCS Hospitality Group for building permits and substantial completion that was approved on May 3, 2022.
Background:
KCS Hospitality Group, LTD. (the “Grantee”), has requested to extend two deadlines in their Chapter 380 Agreement, approved on May 3, 2022 by Resolution No. 4516. The Grantee has been working diligently in trying to commence construction of the restaurants, however, they have been met with delays. Most notably, the need for a Planned Development (PD) Amendment on the project.
The Grantee submitted a written request of extension on May 10, 2023, with the building permit and substantial completion deadlines being one additional year from the original deadlines in the executed agreement. City Staff recommended that the request be brought to council in conjunction with the necessary PD Amendment.
Citizen Input/Board Review:
Not Applicable
Legal Review:
Not Applicable
Alternatives:
City Council has the following alternatives:
- Approve as submitted
- Approve with changes
- Denial
Council Action:
Consider approval of the resolution as presented.