UPDATE: Bryan Council to Consider Eco-Devo Agreement for $120M Plant on FridayFeatured Stories, News Tuesday, April 23rd, 2013
The Bryan City Council and Brazos County Commission are still working on a large economic development agreement with an international company.
Tuesday’s council and commission agendas both included incentives to bring a $120 million dollar manufacturing plant to the Texas Triangle Park north of Bryan. Due to ongoing negotiations, both governing bodies delayed action. The county will return Wednesday morning at 10, while the council will meet Friday afternoon at 4:15. Last week, the Bryan school board voted to enter negotiations.
The only public information given so far, is that Kuadrum Pipe and Tube wants the city to not annex the land for ten years, In return, Kuadrum will hire at least 285 people and generate a minimum payroll of more than $10 million dollars. They will also make an annual payment to the city starting in year four in an amount that’s half of what would have been collected in property taxes.
A 120 million dollar plant is proposed for the Texas Triangle business park north of Bryan.
The city council considers a non-annexation agreement during Tuesday’s meeting.
Kuadrum Pipe and Tube is supposed to buy 183 acres and in the fourth year of a ten year agreement pay the equivalent of half what they would be charged in property taxes.
The company would hire at least 285 employees with a minimum payroll of $10,545,000 dollars.
In exchange, the city will not pursue annexation during the ten year period.
It’s the only agreement the city has to consider. Brazos County still has to take action. And last week the Bryan school board voted to pursue negotiations to receive payments in lieu of the company paying property taxes.
Short URL: http://wtaw.com/?p=60964