To: Mark R. Hafner, City Manager
From: Trina Zais, Director of Public Services & 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 The Wanda Hollinsworth Estate, owner of 10.83 acres of land, located at 900, 904, and 934 N. US Hwy 377; and J. E. McCombs Real Estate, LTD, owner of 21.8 acres of land, located at 712, 720, 800, 810, 816, and 820 N. US Hwy 377; in the City of Keller, Texas; and authorizing the City Manager to execute said documents on behalf of the City of Keller.
Background:
The Economic Development Resolution 2993, adopted by the City September 21, 2010 and Resolution 3349, adopted April 2, 2013, provide a comprehensive policy of guidelines and criteria for economic development incentives, in accordance with Chapter 380 of the Texas Local Government Code; Chapter 311 of the Texas Tax Code; and Chapter 312 of the Texas Property Tax Code.
The Highway 377 corridor has lain fallow for decades, though property owners have made valiant efforts to develop their properties. In 2015, the City embarked on a Planning & Economic Analysis Study to identify potential Land Use Plan amendments. One of the primary findings from this study for the subject properties, in particular, was that the lack of sanitary sewer in this corridor served as a primary impediment to development. A second impediment to development was the lack of median breaks off of Hwy 377 to access properties. A third impediment identified was the lack of congruency that prevented a consistent theme in the corridor.
The current zoning on the properties is Commercial (C), which allows for an array of business activities.
Incentives Requested:
In order to establish a corridor that best promotes the vision of the City of Keller and to achieve the goals of economic development, it is imperative that we set the tone for the Main Street (Hwy 377) corridor with by fostering initial developments. A market analysis of the economic viability of these properties, considering the existing users and potential developments is the first step. A concept plan illustrating how these users fit together is the second step and the final step is marketing the property through the use of a marketing campaign.
It is requested that the city partner with these land owners to a to develop a market analysis, a master concept plan, and a Planned Development zoning district to coincide with the master concept plan. We will work with The Retail Coach to prepare develop a market analysis. It’s proposed that we consult with a third party consultant, Freach Design (proposal attached) to develop the concept plan and marketing materials. Then, we will establish a Planned Development (PD) zoning district in an effort to market this property to its highest, best and most thoughtful development
Financial Considerations:
There are sufficient funds in the budget to cover this expenditure
Citizen Input/Board Review:
The Keller Economic Development Board recommended unanimous approval (4-0) .
Council Action:
My professional opinion is for approval of the request, as presented.