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Board approves amendment to Frasier incentive agreement, extends occupancy deadline
Summary
The board approved Amendment No. 1 to a direct incentive agreement with Frasier Limited, extending the company's occupancy timeline and confirming $540,000 in incentives over 10 years; staff said Frasier will create 286 jobs and invest $4 million in facility expansions.
Nan Li, budget and compliance analyst, presented an amendment to the direct incentive agreement between the Sugar Land Development Corporation (SLDC) and Frasier Limited, describing the company's relocation and a requested extension to its completion deadline.
Li said the original 10-year direct incentive agreement, executed in March, had a total value of $540,000 paid over 10 fiscal years; Frasier planned to add 286 employees with an average annual salary of $71,000 and to invest $4,000,000 in capital to expand facilities at 1410 Gillingham Lane. Li said Frasier had originally targeted a certificate of occupancy by March 31, 2025, but construction and permitting delays moved an expected completion to June 10, 2025, and the company requested an extension to December 31, 2025.
Staff recommended approval of Amendment No. 1 to the direct incentive agreement. A motion to approve the amendment passed on a voice vote with no recorded opposition. The board did not record individual roll-call votes for this item.
The amendment as presented will allow the company additional time to complete facility expansions, obtain certificates of occupancy and meet warranty and safety standards; staff noted the company remains committed to completing the work.
