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More Economic Incentives Proposed for Biocorridor Development

A multimillion dollar retail and hotel development in the biocorridor is expected to include more economic development incentives.

Brazos County commissioners this week unanimously approved a proposed amendment to an agreement made with the city of Bryan in 2000 to accomodate what’s known as the Atlas development.

If approved by the city, $3.8 million dollars in future property tax money would be diverted to infrastructure and amenities. The list includes streets, parks, lakes, a trail system, parking lots, and a wellness center.

The council is scheduled to take action the second week of August.

This is in addition to $2.4 million dollars originally set aside for the privately owned Atlas hotel and conference center.

Developers plan to break ground on the four-star boutique hotel by March of next year and its opening is projected for May of 2016.

Click HERE to read the proposed amendment approved by Brazos County commissioners.

Map of the ATLAS development courtesy of ATLAS.

Map of the ATLAS development courtesy of ATLAS.

Short URL: http://wtaw.com/?p=84299

Posted by on Jul 31 2014. Filed under Featured Stories, News.

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