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Council approves amended Chapter 380 deal for Shadow Creek Crossing; waives $100,000 termination fee
Summary
Council approved a refreshed Chapter 380 economic development agreement for Shadow Creek Crossing (LF Gateway LP), confirmed incentives remain largely the same, and waived a $100,000 termination fee so the developer can move forward with pad building leases and required performance milestones.
The City Council unanimously approved April 9 a revised Chapter 380 economic development agreement for Shadow Creek Crossing (LF Gateway LP) at 3201 East Cartwright Road, a 6.7-acre commercial development near Horn High School that includes a completed McDonald27s and additional pads planned for restaurants, fitness and medical uses.
Economic Development Director Kim Butterm said the revised agreement maintains the previously approved incentive structure: a capped grant of $500,000…
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