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BEDC approves $600,000 interlocal loan and backs $400,000 grant for Burleson Crossing East infrastructure
Summary
The Bastrop EDC approved an interlocal agreement to loan $600,000 to the city at 4% interest and supported a $400,000 grant to the developer for Highway 71 improvements at the Burleson Crossing East retail development; the developer hopes to begin construction in June.
The Bastrop Economic Development Corporation approved a package of actions to fund infrastructure for the Burleson Crossing East retail development, including a $600,000 interagency loan and acceptance of a $400,000 grant to help pay for Highway 71 improvements.
The board approved Resolution R2025-58 (referred to in the meeting transcript as R 20 20 five-eight), authorizing an interlocal cooperative agreement under which the BEDC will loan $600,000 to the city of Bastrop to fund infrastructure associated with Burleson Crossing East. A BEDC representative said the original request from the developer totaled $1 million; under the financing plan $600,000…
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