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Council approves Chapter 380 incentive for Chipotle at Fairmont Pkwy and SH‑146; agreement ties payments to sales and performance
Summary
The City Council approved a Chapter 380 incentive agreement for a Chipotle at West Fairmont Parkway and State Highway 146 that ties grant payments to documented capital investment and site sales.
The La Porte City Council approved a Chapter 380 economic development agreement with Edifice La Porte LLC to support construction of a Chipotle at the northeast corner of West Fairmont Parkway and State Highway 146.
City staff described the revised incentive after the developer shifted the project scope; only Chipotle had signed as a tenant when the agreement was negotiated. Staff said the developer must provide documentation verifying a minimum capital investment of $2,000,000 and obtain a certificate of…
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