Common Contracts
1 similar Economic Development Program Agreement contracts
ContractEconomic Development Program Agreement • July 27th, 2017
Under an Economic Development Program Agreement (Agreement) between the City and Wal- Mart Stores Texas, LLC and Wal-Mart Real Estate Business Trust (Wal-Mart) (City Secretary Contract No. 46623, as amended by City Secretary Contract No. 46623-A1), Wal-Mart is required to expend at least $13 million to complete a 182,000 square foot SuperCenter as well as road improvements to Park Vista Boulevard (Phase I). In addition, Wal-Mart is also required to expend at least $3 million to complete at least 12,000 square feet of commercial and/or retail shell space on the property (Phase II). In return, the City will pay Wal-Mart certain Economic Development Program grants, as authorized by Chapter 380, Texas Local Government Code.
