Consider and take appropriate action on an Economic Development Agreement between the City and Developer LCH Holdings, authorizing a grant of $100,000 to reimburse funds expended by Developer for the construction of White Oaks Drive to provide a connection to Highway 175 as a Connecting Road, and authorizing payment of the Connecting Road Grant pursuant to the Freeman Farms Kaufman Development Agreement dated January 4, 2022, as subsequently assigned from Kaufman One WW, LLC, and its assignee Fr

Staff Report & Agenda Item Details

The City of Kaufman and Freeman Farm, a Series of EIS Development II, LLC, are considering entering into an economic development agreement related to the Freeman Farm development. Under this agreement, the developer may be reimbursed for certain infrastructure costs through economic development grants. As part of the Development Agreement, the Developer agreed not to use hammerhead turnarounds within the development. Instead, the Developer will complete construction of White Oaks Drive, creating a connection from Highway 175 to a future thoroughfare located on the north side of the property. In consideration of the Developer’s agreement to eliminate hammerhead turnarounds and construct the connecting road, through the Development Agreement, the City agreed to enter into an Economic Development Agreement with the Developer to provide a Chapter 380 grant, in the amount of $100,000, to reimburse the Developer for construction of the connecting road.

This motion is scored as EXPANDS_GOVERNMENT (Impact Weight: 7.5/10). Under the Bastiat Liberty Watchdog Index, measures that increase tax rates or fee schedules, issue new debt or Certificates of Obligation, expand regulatory/zoning restrictions on private land use, or authorize unbudgeted spending expansions reduce an official's Freedom Score when voted YES (and reward dissenting NO votes).