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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 plus roadway-impact-fee rebates and a $100,000 bonus incentive if a fast-casual or full-service restaurant opens on the site by Dec. 31, 2026. The grant is structured as a rebate equal to 100% of city ad-valorem taxes, water/wastewater fees and roadway impact fees collected for specified periods; rebates drop to 50% in later years as the agreement phases out. Because the earlier agreement had terminated, the resolution included a waiver of a $100,000 termination fee so the developer can proceed under the refreshed performance timeline.
Developer Seth Groupstein told council that McDonald27s is open at the hard corner and that Building 1 and Building 3 pad leases are executed for tenants including Domino27s, a dental practice and a nail salon in one building, and an urgent care and a franchise fitness tenant in another. Groupstein said civil drawings and permits are under review and that, barring market changes, the developer expects to break ground before June 1.
Under the amended performance schedule, one of the identified building permits must be issued by July 1, 2025 (permit threshold was presented as July 30 in the staff report) for at least 7,250 square feet, with completed construction of specified buildings by Dec. 31, 2026; the broader site improvements must be finished by the contract end date to qualify for the incentive schedule. Councilman Brandon Martin moved approval; Kenny Green seconded and the resolution passed unanimously.
