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Council authorizes BEDC to acquire 65-acre tract near I-35; staff outline infrastructure needs and costs
Summary
The council approved BEDC's request to acquire about 65 acres west of I-35 (partially in Salado ISD), with BEDC reporting site constraints, floodplain acreage, and utility-extension cost estimates; council approved the acquisition unanimously.
The Belton Economic Development Corporation on March 11 asked the city council to authorize purchase of roughly 65 acres west of I-35 (adjacent to Salado Business Park). The council approved BEDC's authorization to execute amended real estate contracts for the acquisition.
Cynthia, BEDC executive director, said the 65-acre purchase is structured as two contracts because a residence occupies about five acres (priced at $1,500,000) and the remaining approximately 60 acres are priced at $3,000,000. BEDC said it is in a 90-day feasibility period and negotiated commission and earnest-deposit terms with the seller.
BEDC reported that about 12 acres of the tract appear suitable for industrial development, while roughly 31 acres lie in the flood plain (which limits building placement but can be used for parking or drainage). A Phase I environmental assessment showed no need for further investigation but again recommended cleaning scrap and plugging wells.
On utilities, Cynthia said Central Texas Water has a line on Amity Road, but the preferred long-term solution would be to extend the City of Belton's water line, with a rough 12-inch-line cost estimate of about $2,000,000. Preliminary wastewater extension estimates are substantially larger: BEDC presented a range of about $4.8 million to $6.0 million to extend sewer service in a way that would serve this and other sites; staff cautioned that final alignment and cost would follow coordination with the city's wastewater master plan. BEDC said its fund balance (approximately $11.2 million) could cover the acquisitions without debt, though infrastructure costs would require additional planning.
After discussion about timing, utility costs and strategic land-banking, councilmembers moved and seconded a motion to authorize the BEDC executive director to execute the amended contracts; the motion passed by voice vote.
