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Fulshear Development Corporation approves economic development agreement; minutes and payables also approved
Summary
At its May meeting the Fulshear Development Corporation approved minutes, authorized payment of $10,294.87 in monthly payables and approved a performance-agreement resolution with Fulshear Central, LLC that could provide up to $1,000,000 in incentives from the Type B EDC over 14 years.
The Fulshear Development Corporation on Monday approved three routine but consequential items: corrected minutes for its April 21, 2025 meeting, payment of the board’s monthly payables and a resolution authorizing a performance agreement with developer Fulshear Central, LLC.
The board voted to approve the April 21, 2025 minutes as amended to correct a wording error on the last page. The board next approved payment of $10,294.87 in payables for the period ending March 31, 2025. Finance staff reported sales-tax revenues received in May 2025 were up 14 percent from the same period a year earlier and that the corporation’s receipts are at about 55.42 percent of the annual budget at midyear.
The board then opened a public hearing and later voted to approve “Resolution 2025-04,” described in the meeting packet as an economic development performance agreement between the Fulshear Development Corporation and Fulshear Central, LLC. Under the agreement shown to the board, the city and the two EDC boards would share incremental sales-tax revenues generated by the project area; the Type B EDC’s contribution is capped at $1,000,000 over a 14-year period and would be paid from sales taxes generated specifically within the project area. The packet and board discussion list infrastructure work in the project’s incentive schedule, including water and sewer installations and off-site utility improvements.
During the public hearing, commenter Tayanna Serlin, who said she represents multiple commercial developers, expressed support for the infrastructure elements in the incentive schedule and asked how impact fees for the project would be addressed, saying, “So how much impact fees are they going to pay?” Board and staff members replied that impact fees and other details are included or will be addressed as part of the overall development approvals and the city’s processes.
No roll-call vote tally with named votes was recorded in the public transcript; the board chair called for voices of “aye,” and the chair declared the motion carried. The board noted the performance agreement will still require coordination with city council and adherence to state open-meeting requirements for executive-session deliberations that preceded the public hearing.
Minutes: approved as amended. Payables: approved, $10,294.87. Resolution 2025-04 (Fulshear Central, LLC — performance agreement): approved (motion carried).
