>> I HAVE 4:30 AND THIS TIME I WILL CALL TO ORDER THE DECEMBER 13TH,
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2021 MEETING OF THE BURLESON 4A ECONOMIC DEVELOPMENT CORPORATION.WE HAVE ONE ITEM ON OUR AGENDA THIS EVENING,
[A. Consider approval of a Chapter 380 Economic Development and Performance Agreement between the City of Burleson, the Burleson 4A Economic Development Corporation, Burleson Community Service Development Corporation, and AC Burleson, LLC, for a corporate headquarters and family entertainment center located at 1258 SW Alsbury Blvd. (Staff Presenter: Alex Philips, Economic Development Director)]
AND THAT IS ITEM 1A TO CONSIDER APPROVAL OF THE CHAPTER 380 ECONOMIC DEVELOPMENT AND PERFORMANCE AGREEMENT BETWEEN THE CITY OF BURLESON, THE BURLESON 4A ECONOMIC DEVELOPMENT CORPORATION.BURLESON COMMUNITY SERVICE DEVELOPMENT CORPORATION AND AC BURLESON LLC FOR A CORPORATE HEADQUARTERS AND A FAMILY ENTERTAINMENT CENTER LOCATED AT 1258 SOUTHWEST ALSBURY BOULEVARD, WHICH WILL BE PRESENTED THIS EVENING BY ALEX PHILLIPS, OUR ECONOMIC DEVELOPMENT DIRECTOR.
>> THANK YOU, BOARD PRESIDENT, 4A MEMBERS.
I'M HERE TO PRESENT THE ITEM THAT WE'VE ALL BEEN WAITING FOR FOR A FEW YEARS.
AC BURLESON LLC IS ALLEY CATS FAMILY ENTERTAINMENT.
IT'S BEEN FAMILY OWNED SINCE 1964.
THEY OWNED ALL THE PUTT-PUTT GOLFING GAMES IN AND AROUND THE METROPLEX SINCE THEN.
THEY CURRENTLY HAVE TWO LOCATIONS, ONE IN HURST, ONE IN ARLINGTON.
THEIR OFFERINGS INCLUDE BOWLING, LASER TAG, ARCADE, PUTT-PUTT, BATTING CAGES, GO-KARTS, AND A LITTLE BIT MORE, ALONG WITH BIRTHDAY ROOMS. THEY HAVE A FEW BARS WITHIN THEIR FACILITY AND I WOULD SAY A RESTAURANT, IT'S MORE THAN A CONCESSION STAND, BUT THEY DO HAVE FULL KITCHEN WHERE THEY PREPARE CHEF DRIVEN FOOD.
IT IS A CORPORATE OFFICE RELOCATION AT JOHN JONES AND ALSBURY THE SIDE IS APPROXIMATELY 8.42 ACRES.
LOCATION WILL BE AT LEAST 50,000 SQUARE FEET OF THE BUILDING, IN ADDITION TO THE OUTSIDE ATTRACTIONS.
THIS HAS BEEN THE NUMBER ONE REQUEST FOR BURLESON CITIZENS FOR A LONG TIME.
THIS PROJECT WILL OPEN THE DOOR FOR MORE OPPORTUNITIES ON THAT JOHN JONES CORRIDOR AND ALSBURY CORRIDOR AS WELL.
PART OF THE AGREEMENT, THE ALLEY CATS OBLIGATIONS, COMPLETE THE PURCHASE OF THE PROPERTY BY THE END OF JUNE OF NEXT YEAR.
COMMENCE CONSTRUCTION THE DEVELOPMENT NO LATER THAN JULY OF NEXT YEAR.
COMPLETE THE CONSTRUCTION THAT DEVELOPMENT NO LATER THAN AUGUST 1ST OF '23, WITH AN APPROXIMATE CAPITAL INVESTMENT OF NO LESS THAN $10 MILLION.
THE PROSPECT AGREES TO RELOCATE THE CORPORATE HEADQUARTERS TO THE BURLESON FACILITY.
THE FACILITY WILL HAVE A SEPARATE ENTRANCE MARKED CORPORATE HEADQUARTERS.
THE BURLESON LOCATION MUST INCLUDE THE FOLLOWING ATTRACTIONS, ARCADE, LASER TAG, BOWLING, GO-KARTS, BATTING CAGES, MINI GOLF, MEETING ROOM, WITH THE OCCUPANCY OF A 100 PEOPLE, AND ALSO HAVE BIRTHDAY PARTY ROOMS WITHIN THEIR FACILITY.
CITY OF BURLESON OBLIGATIONS IN 4A AND 4B OBLIGATIONS.
SALES TAX REBATE WOULD INCLUDE THE GENERAL FUND, THE 4B AND 4A FOR A PERIOD OF FIVE YEARS, THAT WOULD BE KEPT AT $750,000.
THE CITY WOULD MAKE GRANT PAYMENTS TO ALLEY CATS IN ANNUAL INSTALLMENTS FOR 100 PERCENT OF THE AVAILABLE SALES TAX.
CASH GRANTS FROM THE 4B, IN THE AMOUNT OF $625,000 TO BE DISPERSED ONCE PERFORMANCE MEASURES ARE MET.
THOSE PERFORMANCE MEASURES OF THE 4B ARE PUBLIC INFRASTRUCTURE COMPLETE AND ACCEPTED.
DRIVEWAY, WATER, SEWER, DRAINAGE.
THE MEETING ROOM WITH A SEATING CAPACITY OF 100 IS COMPLETE AND THEIR CO. FROM THE 4A, IT WOULD ALSO BE $625,000 OF CASH GRANTS DISPERSED ONCE PERFORMANCE MEASURES ARE MET.
CLOSING OF THE PROPERTY IS COMPLETE.
ISSUANCE OF THE BUILDING PERMIT, COMPLETION OF THE SEPARATE ENTRANCE FOR THE CORPORATE HEADQUARTERS AND WHEN THEY GET THEIR CO.
HERE'S A SNAPSHOT OF LOOKING AT THAT 10-YEAR PICTURE OF THEIR PERFORMER WITH ALL THE INCENTIVES AND EVERYTHING IN THERE.
THE INCENTIVES ARE APPROXIMATELY 1.99 GETTING CLOSER AT TWO MILLION DOLLAR MARK.
A 10-YEAR RETURN ON INVESTMENTS 15 PERCENT GOES UP IN 15 YEARS TO 86, AND THEN 20-YEAR RETURN ON INVESTMENTS A 169 PERCENT.
THIS IS JUST A PRELIMINARY LAYOUT.
THIS IS NOT FINALIZED OR ANYTHING LIKE THAT.
THEY WERE JUST SEEING HOW IT WOULD FIT ON THE SITE.
JUST TO GIVE YOU SOME CONTEXT, IT'LL PROBABLY CHANGE QUITE A BIT, AFTER THEY GET INTO DUE DILIGENCE TIME PERIOD AND LOOKING AT HOW THEY WENT TO LAY EVERYTHING OUT.
TONIGHT THE 4A ACTIONS, APPROVE THE 380 AGREEMENT WITH AC BURLESON LLC, MODIFY IT OR DENY IT.
>> QUESTIONS, ANYONE? I JUST LIKE TO SAY THAT I'M GOING TO PREDICT THE FUTURE HERE AND SAY THAT AS SOON AS I SAY WHAT I'M ABOUT TO SAY THAT ALEX IS GOING TO SAY IT TAKES A TEAM EFFORT.
ALEX, THANK YOU PERSONALLY AND FROM ALL OF US FOR YOUR HARD AND DILIGENT WORK.
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YOUR PROOF THAT THINGS CAN GET DONE AROUND HERE, AND YOU'RE ALSO A PROVE THAT THE CITY, OUR STAFF, OUR PARKS, FOLKS, ECONOMIC DEVELOPMENT, CITY MANAGEMENT, TOP TO BOTTOM, LISTENS TO WHAT THE PEOPLE SAY THEY WANT AND WORK DILIGENTLY TO ACHIEVE IT.I THINK THIS IS A DEFINITELY A MILESTONE, KNOCKING OFF THE NUMBER ONE WANT, THE NUMBER ONE THING ON THE WISH LIST.
EVERYBODY GETS SOMETHING FOR CHRISTMAS.
I'D LIKE TO TAKE SINGLE-HANDED CREDIT FOR KEEPING PUTT-PUTT GOLF AND GAMES ALIVE THROUGH THE 1980.
[LAUGHTER] I BOUGHT QUARTERS BY THE ROWS IN ORDER TO PLAY GALAGA, DIP DUG, DONKEY KONG, CANTERBURY, WHATEVER, CENTIPEDE WHATEVER IS CALLED.
THEY ARE ALIVE BECAUSE OF MY INPUT BACK IN THE 1980S, OVER AROUND 820 IN HURST.
>> 820 IN COLEMON OVER THERE BARZEBOS.
>> THERE TOO. NOW WITH ALL THAT ASIDE, I'LL ONLY MAKE TWO MORE COMMENTS.
ONE, I THINK THIS IS AN EXCELLENT DEAL.
WE'RE GOING TO PULL OUT IN IT, BUT WE'RE ALSO EXPECTING TO GET A LOT OUT OF IT IN TERMS OF THE BENEFIT THAT WILL ACCRUE FROM GIVING THE PEOPLE WHAT THEY'VE ASKED FOR, AND SETTING THE STAGE FOR FUTURE DEVELOPMENT AND FURTHER ENHANCEMENTS IN AMENITIES ALONG THE JOHN JONES CORRIDOR AND THE ALSBURY CORRIDOR.
THE OTHER THING I'D SAY IS NOT TRYING TO CAST A SHADOW HERE, BUT I JUST WANT YOU TO KNOW, I'M ALSO IN AFICIONADO OF WARNER BROTHERS CARTOONS.
JUST POINTING OUT, THE ROAD RUNNER NEVER DID ACTUALLY GET CAUGHT BY WILE CAYOTE NOT IN CONSUME.
>> WELL, THIS COYOTE, CAUGHT THE ROAD RUNNER.
>> DOES THE COYOTE USUALLY HAVE GLASSES OR IS THAT ACTUALLY SUPPOSED TO MEAN YOU ALEX.
>> THERE IS AN IMAGE I FOUND AND IT FIT.
>> PERFECT. WELL DONE, GREAT JOB TO YOU AND YOUR TEAM.
>> DO WE WANT TO DISCUSS ANYMORE QUESTIONS, ANYONE? NO, YOU'RE GOOD. [LAUGHTER].
>> THEN I GUESS WE'RE READY FOR A MOTION.
>> [OVERLAPPING] MOVE TO APPROVE.
>> I HAVE A MOTION BY TAMARA. SECOND BY.
>> RONNIE. ALL THOSE IN FAVOR.
>> I THINK I'M NOT SURE WHO'S VOTED WHERE, BUT.
>> YOU LOOK DOWN TO THE SCREEN. PLEASE CHECK OUT ZOOM FOR A SECOND.
LET'S JUST DO A SHOW OF HANDS SO THAT WE'RE, THERE WE GO.
>> I THINK BY SHOW OF HANDS IS THAT THIS IS A UNANIMOUS VOTE.
>> THANK YOU. DO WE HAVE ANY NEED FOR EXECUTIVE SESSION?
>> ALL RIGHT THEN. THE MEETING OF THE 4A ECONOMIC DEVELOPMENT CORPORATION WILL ADJOURN AT 4:37 PM. THANK YOU.
>> THANK YOU GUYS.
* This transcript was compiled from uncorrected Closed Captioning.