Jun 15, 2026 Economic Development Corp. (Type A)

THANK YOU. LADIES AND GENTLEMEN, IT IS 4:49. AND AT THIS TIME WE HAVE A QUORUM OF THE BURLESON FOR ECONOMIC DEVELOPMENT CORPORATION PRESENT.

[1. CALL TO ORDER]

[00:00:09]

IF WE HAVE ANY CITIZENS HERE THAT WOULD LIKE TO SPEAK TO THIS GROUP.

THIS IS YOUR OPPORTUNITY TO DO SO. I SEE NO SIGN OF ANY SUCH REQUEST.

SO WE'LL MOVE ON TO ITEM 3. ITEM 3.A IS TO CONSIDER AND TAKE POSSIBLE ACTION ON MINUTES FROM THE MARCH 25TH,

[3.A. Consider and take possible action on the minutes from the March 25, 2026 Economic Development Corporation (Type A) meeting. (Staff Contact: Monica Solko, Deputy City Secretary) ]

IF YOU HAVE HAD A CHANCE TO LOOK AT THEM, I'LL TAKE A MOTION.

MAKE A MOTION TO APPROVE. I'LL SECOND. OKAY. I HAVE A MOTION FROM ANDERSON, A SECOND FROM RUSSELL TO APPROVE ALL THOSE IN FAVOR? MOTION PASSES WITH UNANIMOUS VOTE. NEXT UP IS ITEM 3.B TO CONSIDER AND TAKE POSSIBLE ACTION ON A 3RD AMENDMENT TO AND RESTATEMENT OF PERFORMANCE

[3.B. Consider and take possible action on a third amendment to and restatement of performance agreement between the Burleson 4A Economic Development Corporation and 2525 FTG - Tulsa, LLC (CSO#4A020623FTG-Tulsa) for a development located at 700, 708, 712, 714, 716 and 720 SW Wilshire Blvd. in Burleson, Texas. (Staff Contact: Alex Philips, Economic Development Director) ]

THIS WILL BE PRESENTED BY ALEX PHILLIPS, OUR ECONOMIC DEVELOPMENT DIRECTOR.

THANK YOU, MR. PRESIDENT. AND FOR A MEMBERS. ALEX PHILLIPS, ECONOMIC DEVELOPMENT DIRECTOR FOR THE CITY OF BURLESON, HERE TO BRING THIS THIRD AND HOPEFULLY FINAL AMENDMENT FOR THIS PROJECT FORWARD.

JUST A LITTLE BIT OF HISTORY. IT IS APPROXIMATELY A TWO ACRE SITE AT WILSHIRE IN SUMMER CREST FOR LOTS HAVE BEEN VACANT FOR SEVERAL YEARS.

USED TO BE AN OLD SONIC AND THEN A PLANT NURSERY AND ALSO AN OLD OFFICE BUILDING.

THE DEVELOPER, THE AGREEMENT. NOW A DEVELOPER WILL RECEIVE $850,000 FOR A INCENTIVE TO ASSIST WITH ENVIRONMENTAL INFRASTRUCTURE AND TURN LANE. THE DEVELOPER HAD CLEANED UP THE ENVIRONMENTAL AND CLEARED THE SITE.

THE ORIGINAL AGREEMENT WAS APPROVED IN FEBRUARY 22ND.

THE FIRST AMENDMENT WAS JUNE OF 23. THE SECOND AMENDMENT WAS DECEMBER 24TH.

AFTER WE HAD SENT A DEFAULT NOTIFICATION TO THE DEVELOPER, THE ORIGINAL DEVELOPMENT INCLUDED FOUR SALES TAX USERS.

IF YOU REMEMBER THE GREAT GREEK, HAWAIIAN BROS.

FATBURGER AND COOL GREENS AND THAT TOTAL INCENTIVE IS 850,000.

ALL THE AMENDMENTS HAVE BEEN FOR MORE TIME, AS THE SITE PLAN HAS CHANGED A FEW DIFFERENT TIMES TO DIFFERENT, DIFFERENT TENANTS. THE ORIGINAL PERFORMER WAS BASED OFF THE FOR SALES TAX GENERATING TENANTS TOTALING 7 MILLION IN SALES ANNUALLY.

THAT WAS PROVIDED TO STAFF FROM THE DEVELOPER.

STAFF LATER ADDED SOME STREET AND WATER IMPROVEMENTS TO BE REIMBURSED IN A SEPARATE CFC AGREEMENT IN THE AMOUNT OF 2235 60.

THE DEVELOPMENT HAS CHANGED. NOW WE HAVE FROST BANK ON THE BEHIND THE CORNER LOT AND THEN THE SHELL BUILDING HAVING THREE SALES TAX PRODUCING TENANTS, CURRENTLY CRISP GREENS, WHICH IS A SALAD CONCEPT, ONO HAWAIIAN BARBECUE AND THE GREAT GREEK.

THIS WAS THE PERFORMA BACK IN FEBRUARY OF 23 WHEN IT WAS APPROVED.

YOU SEE THE TEN YEAR RETURN BEING 111%, THE 20 YEAR RETURN BEING 335%.

WE WOULD LIKE TO PROPOSE A NEW INCENTIVE PACKAGE.

WE WOULD LEAVE THE WATER AND SEWER CFC AGREEMENT ALONE AND LEAVE THAT THE SAME THAT WE WOULD PROVIDE FROM THE CAPITAL DIVISION OF THE $223,560 STAFF WOULD PROPOSE CASH GRANTS OF $131,250 FOR EACH OF THE FOLLOWING PERFORMANCE MEASURES.

ONE WHEN THEY GET A CO FOR THE SHELL BUILDING.

ONE WHEN ONO HAWAIIAN BARBECUE OPENS UP TO THE PUBLIC.

ONE WHEN THE GREAT GREEK OPENS TO THE PUBLIC, AND THEN WHEN THE THIRD SALES TAX PRODUCING AND NEW TO MARKET SALES TAX USER OPENS UP TO THE PUBLIC TOTALING 525,000. SO LOWERING THE TOTAL INCENTIVE FROM THE 4.A BECAUSE WE'RE NOT GETTING WHAT WE SAID.

THEY SAID WE WERE GETTING IN THE BEGINNING. THE DEVELOPER WANTS TO JUST CHANGE THE DATES AND MOVE THEM OUT SUBSTANTIALLY COMPLETE THE DEVELOPMENT BY END OF MARCH OF NEXT YEAR, MAKE THE MINIMUM CAPITAL INVESTMENT BY THE END OF MARCH OF $2 MILLION.

DEVELOPMENT TO HAVE THE THREE NEW TO MARKET SALES TAX GENERATING TENANTS THAT ARE NAMED IN THE AGREEMENT, AND THEN THE OFF SITE IMPROVEMENTS FOR THE TRAFFIC AND WATER IMPROVEMENTS WOULD STAY UNCHANGED.

THAT. 223,560 THE NEW PROFORMA YOU SEE, THE 10 YEAR GOES UP A LITTLE BIT, BUT THE 20 YEAR GOES UP QUITE A BIT TO 413%.

SO TONIGHT, GIVE THE FOUR A BOARD SOME OPTIONS TO APPROVE THE INCENTIVE PACKAGE AS PRESENTED BY STAFF.

THE 3RD AMENDMENT OR OPTION 2 DEFAULT ON THE AGREEMENT HERE TO ANSWER ANY QUESTIONS.

QUESTION ANYONE. ALL RIGHT. ALEX, CAN YOU GO BACK TO THE 10 YEAR PERFORMA? I DON'T HAVE A QUESTION. I JUST NEED TO LOOK AT SOMETHING. YES, SIR.

[00:05:06]

I NOTICED THAT THE SALAD PLACE IS NAMED IN THE PRESENTATION HERE, BUT IS NOT A TRIGGER FOR THE REIMBURSEMENT.

OR IS THAT THE ONE YOU'RE REFERRING TO IS THE THIRD SALES TAX? YES. THAT IS THE THIRD SALES TAX USER. THEY'RE NOT CURRENTLY HAVE A LEASE COMPLETED WITH THAT TENANT.

SO THEY WANTED TO LEAVE IT UNNAMED. BUT WE BRACKETED IT IN THE AMENDMENT THAT IT HAS TO BE A QSR QUICK SERVICE RESTAURANT.

IT CAN'T HAVE A DRIVE THRU, BUT IT CAN'T BE A NAIL SALON OR SOMETHING LIKE THAT.

IT HAS TO BE NEW TO MARKET AND SALES TAX GENERATING.

OKAY. ALL RIGHT. ANY OTHER QUESTIONS ANYONE? I'LL TAKE A MOTION.

TAKE A MOTION TO APPROVE OPTION ONE. I'LL SECOND.

OKAY. MOTION IS MADE BY PHIL TO APPROVE OPTION 1 SECOND BY ALEXA.

ALL THOSE IN FAVOR? MOTION PASSES WITH UNANIMOUS VOTE.

THANK YOU ALEX. ALL RIGHT. NEXT UP IS ITEM 3.C TO CONSIDER AND TAKE POSSIBLE ACTION ON A RESOLUTION AUTHORIZING THE SUBMITTAL OF A

[3.C. Consider and take possible action on a resolution authorizing the submittal of a rezoning application for an approximately 4.106-acre portion of the Hooper Business Park to MF2, Multiple-family dwelling district for the purpose of a future private development generally located at 9028 CR 1019. (Staff Contact: Tony D. McIlwain, Development Services Director) ]

YEAH. OKAY. CARRY ON. SIR. I THOUGHT I READ THE SAME TITLE TWICE.

GOOD EVENING, MR. PRESIDENT. AND MEMBERS OF THE ECONOMIC DEVELOPMENT CORPORATION THIS EVENING.

TONIGHT DOES INVOLVE A PORTION OF PROPERTY THAT YOU HAVE OWNERSHIP OF.

AS THE PRESIDENT MENTIONED, IT'S A 4.106 ACRE TRACT IN OUR DEVELOPMENT, MPC 18 LLC.

THE DEVELOPERS, AS WE REFER TO THEM, HAVE EXPRESSED INTEREST IN DEVELOPING A MULTIFAMILY PROJECT INVOLVING THIS TRACT OF LAND.

OBVIOUSLY, THIS PROPERTY ABUTS PUBLIC RIGHT OF WAY, AND IT IS ATTRACTIVE IN THAT REGARD TO THEM FOR FUTURE DEVELOPMENT.

THEY'RE GAUGING YOUR INTEREST TONIGHT IN MOVING FORWARD WITH A REZONE APPLICATION THAT WOULD REQUIRE SUBSEQUENT RATIFICATION BY THE CITY COUNCIL, IF SO, APPROVED, AT THIS EVENING'S MEETING. SO BY WAY OF WHAT THE EDC IS DOING IS, OF COURSE, DEVELOPING A MARKETING AND NATIONAL REGIONAL OFFICE PARK, HOOPER BUSINESS PARK, LOCATED AT THE NORTHERN EDGE OF CHISHOLM SUMMIT.

AND WE ARE, OF COURSE, LOOKING TO TARGET NATIONAL REGIONAL HEADQUARTERS FOR MULTIPLE INDUSTRIES.

WHAT THE DEVELOPERS ARE INTERESTED IN DOING IS MULTIFAMILY, ADJACENT TO THE HOOPER BUSINESS PARK, IN AN EFFORT TO PROVIDE ADDITIONAL HOUSING OPTIONS AND TO FURTHER ECONOMIC GOALS OF THE HOOPER BUSINESS PARK WITH REGARD TO GIVING INDIVIDUALS THAT BE WORKING IN THOSE DISCIPLINES AN OPPORTUNITY TO LIVE CLOSE BY. SO BY WAY OF ANNEXATION AND ZONING, ON APRIL 13TH, STAFF RECEIVED AN APPLICATION FROM JUSTIN MR., JUSTIN BOARD RT DEVELOPMENT ON BEHALF OF DAVID SHANKS OF MPC 18, LLC. THIS IS FOR VOLUNTARY ANNEXATION OF 32 PLUS ACRES OF LAND FOR FUTURE RESIDENTIAL DEVELOPMENT.

JUST BY WAY OF PROTOCOL, CONSIDERATION OF ANY ZONING REQUEST WOULD FOLLOW THE SAME PROCESS RELATING TO PUBLIC NOTICE, PUBLIC HEARINGS BEFORE THE PLANNING AND ZONING COMMISSION AND CITY COUNCIL.

ANY ACTION YOU UNDERTAKE TONIGHT DOES NOT OBLIGATE THE PLANNING AND ZONING COMMISSION, NOR CITY COUNCIL TO APPROVE A ZONING REQUEST.

SO THE NECESSARY ACTION, IF YOU ARE IN SUPPORT, IS TO APPROVE A RESOLUTION REQUESTING THE REZONING OF THE SUBJECT SITE. AND THEN, OF COURSE, THAT WOULD THEN PUT IT ON CITY COUNCIL'S CONSIDERATION FOR RATIFICATION AT THIS EVENING'S MEETING.

WE ARE IN SUPPORT. WE BELIEVE RESIDENTIAL USE WOULD ALIGN WITH THE COMPREHENSIVE PLAN AND PROVIDE ANOTHER OPTION OF HOUSING TYPES.

I RECOMMEND APPROVAL OF THE RESOLUTION, AND I WOULD LIKE TO ANSWER ANY QUESTIONS THAT YOU HAVE.

QUESTIONS ANYONE. SO AS I GET THIS PROCESS PLAYING OUT THIS EVENING, THEN THE FIRST STEP IN THIS IS FOR THE EDC AS THE OWNER OF THIS TRACT OF LAND, TO APPLY FOR OR TO REQUEST A ZONING CHANGE.

CORRECT. YES, SIR. IF THE ZONING CHANGE COMES INTO PLAY, THEN THE NEXT STEP IS FOR THE EDC AND THE DEVELOPER TO SWAP LAND.

[00:10:01]

THAT IS CORRECT. AND HE GETS THE FRONTAGE ON LAKEWOOD DRIVE, WHICH IS ARGUABLY LESS IMPORTANT TO THE EDC FOR ITS PURPOSES THAN IT WOULD BE TO THE DEVELOPER FOR HIS. CORRECT. I JUST WANT TO MAKE SURE I UNDERSTAND THE THE PROCESS HERE.

MAYOR PRO TEM FOR ONE POINT OF CLARIFICATION.

IN ORDER TO ZONE PROPERTY, IT WILL HAVE TO BE ANNEXED IN.

THERE'S AN ANNEXATION ACTION TONIGHT. I KNEW I WAS LEAVING ONE STEP OUT, BUT YEAH, THE ANNEXATION AND THEN THE LAND SWAP.

OKAY. ALL GOOD. ANY OTHER QUESTIONS? ALL RIGHT.

I'LL TAKE A MOTION MOVE TO APPROVE. SECOND. MOTION FROM ADAM TO APPROVE AND A SECOND FROM ALEXA.

ALL THOSE IN FAVOR? AND I SEE THAT MOTION PASSES BY UNANIMOUS VOTE AS WELL.

SO NEXT UP ON OUR ITEM IS BOARD REQUEST FOR FUTURE AGENDA ITEMS. ITEM NUMBER 4 ON OUR AGENDA. HAVE WE ANY. I SEE NO REQUEST.

HAVE WE A NEED FOR EXECUTIVE SESSION? WE DO NOT.

SO WE WILL ADJOURN THE MEETING AT 5:00.

* This transcript was compiled from uncorrected Closed Captioning.