To: Aaron Rector, City Manager
From: Mary Culver, Director of Economic Development
Subject:
Title
Consider a resolution approving 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 policy, with JRTR Investments, LTD and authorizing the City Manager to execute said documents on behalf of the City of Keller, Texas.
This Chapter 380 Economic Development Program Agreement authorizes the conveyance of 0.25 acres of land at 551 Keller Pkwy to JRTR Investments LTD. This proposal has been discussed by City Council in executive session on November 19, 2024 and December 17, 2024.
The adjoining land at 525 Keller Pkwy was sold to JRTR Investments LTD in 2023, as approved by Resolution No. 4639. Following the Grantee’s purchase of 525 Keller Pkwy and 605 Keller Pkwy, a request was made to obtain an additional 0.25 acres of land surrounding their privately-owned property, from 551 Keller Pkwy.
Chapter 253, Section 0125 of the Texas Local Government Code authorizes a City to convey land to a certain entity for Economic Development purposes through a Chapter 380 Economic Development Program Agreement.
The Keller Economic Development Board reviewed this proposal on December 16, 2024 and unanimously recommended approval.