The Bryan city council approves an economic development agreement that will bring what was described as the largest business by taxable value in Brazos County history.
The council unanimously voted to pay up to $15,747,500.00 in future city property taxes to the Austin based owner of a data center that he is building on the Texas A&M system’s RELLIS campus.
Deputy city manager Joey Dunn the 600,000 square foot building is almost five times the size of a Walmart, which is 125,000 square foot.
Sam Tenorio III, who entered a ground lease agreement with the system that requires him to pay property taxes, will be paid up to 50 percent of city property taxes over a ten year period.
The agreement does not require a minimum number of employees or payroll. Tenorio told the council he projects 100 to 150 employees with a salary range of $75,000 to $100,000 dollars.
The agreement does require Tenorio to start construction by November 1, 2021 and be finished with the 250,000 square foot first phase in 18 months.
Three years after construction is completed, Tenorio is required to have real and personal property valued at a minimum of $100 million dollars. Five years after construction is completed, the minimum valuation has to be $200 million.
There is also a requirement for Tenorio to aggressively seek commercial and industrial tenants to create an undefined number of new jobs and add property value.
Tenorio said the city and Brazos County will collect sales tax revenue. BTU will get revenue from electric consumption that will be so much that a substation is being built in part for this business.
According to the A&M system’s website for the data center, it will also have classrooms and offices and will offer research opportunities for students and technical workforce training.
Click HERE to read and download the Bryan city council’s agreement with Sam Tenorio III.
Click HERE to be directed to the RELLIS data center website.
