The SEDC and Schertz 312 entered into the Economic Development Performance Agreement - Schertz 312 for its Phase I infrastructure and on May 7, 2018, for the design engineering and construction of certain Infrastructure Improvements for their Phase II development.  Phase II is the second portion of the roadway extension of Tejas Way.  A requirement of the city is that the development have two entry points.  The SEDC staff, at the time, provided an alternative to where the EDC would provide support for the development to apply for some TEDC grants for bridge infrastructure over top of the Union Pacific Railroad that is at the location of their planned second entrance.  Our plan was to utilize EDC funding to provide the match for the grant but the cost for not only for obtaining the grant, but maintaining and managing the grant funding, coupled with the lead it would take to pursue the grant got in the way of everybody and they now wish to take every mention of Grant, Bridge Infrastructure and Union Pacific Railroad out of this agreement.  The developer has since mad arrangements with a neighboring property owner to allo managed access across their property to provide this second emergency access point.  The only discussion this evening was that intially, the roadway improvements were $2,250,000 and the RR crossing was $250,000 making the grant amount $2,500,000.  The developer paid more than the asking for the mention of the crossing of the railroad be omitted from the agreement and the entire amount of $2,500,000 be remitted to them when they reach their performance standard.  The SEDC board contemplated the request for the capital recovery fees.

The SEDC board has declared that infrastructure and jobs are its highest priority, as set aside in their incentive plan.  Titan has a large presence in the city already.  They have an attractive development that provides us with numerous jobs as well as property and person property taxes.  The roadway that was provided as part of this phase I is a good-looking roadway with sidewalks, curb and gutter and has held up very nicely in spite of not being used extensively.

This allowance for the amendment and restatement will allow the developer to continue planning and constructing development.

On August 24, 2023, the SEDC Board of Directors votes unanimously to approve the SEDC Resolution No. 2023-8 authorizing the Amendment and Restatement to the Development Performance Agreement with Schertz 312 LLC. Phase II.