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Council approves development agreement for Whataburger site in Border Region district; staff projects $3.5M investment
Summary
The council approved a development agreement with BKW Properties LLC for a planned Whataburger at 6521 Ringgold Road under the Border Region Retail Development District program; staff projection and allocation mechanics were explained to council.
The East Ridge City Council voted unanimously on Feb. 27 to approve a development agreement with BKW Properties LLC related to a planned Whataburger at 6521 Ringgold Road.
City staff told the council the project is projected to involve about $3,500,000 in investment and that projected taxable sales were modeled beginning at $4,000,000 with an assumed 2% annual growth for purposes of the Border Region Retail Development District allocation calculation. Staff emphasized the baseline amount — the state sales tax previously generated at the parcel — is approximately $73,000, a figure supplied by the state and used in the district math.
Under the…
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