The Texas City Economic Development Corporation entered into an agreement with the Simon Group of Premium Outlets from New Jersey to build an outlet mall in Texas City.  Shortly after the agreement was signed, the Simon Group partnered with another outlet group Tanger Outlets to create the Texas City Tanger Outlet mall  The agreement was to rebate a portion of the sales tax each month that was generated from the Outlet Mall to cover infrastructure improvements not included in the MUD or TIRZ plan and were specific to the mall.  The amount was $8.5 million.  The estimated time for the mall to generate that amount of sales tax was 8 to 10 years, so the term was set at 10 years for the agreement.  Near the end of year six, it was noted that there would only be a few months left in the new fiscal year to finalize the payment to the Simon Group.

A ceremonial check with the final payment and a certificate for each of the partners will be presented.  This marks the first Chapter 380 Sales Tax agreement that Texas City entered into.  It has been a huge success being completed nearly two years ahead of the estimated time frame and indicates the success that retail and businesses have in Texas City and the regional impact of locating in Texas City between Galveston and Houston with most of the sales from the outlet stores coming from outside Texas City and Galveston County.