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Council approves $30,000 incentive for All Out Development’s $3M renovation at 303 N. Friendswood Drive
Summary
Council authorized an economic development agreement to relocate a Pearland business to 303 N. Friendswood Drive, contingent on at least $3 million in investment and a roughly $30,000 incentive payment upon completion.
Council approved an economic development agreement on Nov. 9 with All Out Development Inc. for redevelopment of the property at 303 North Friendswood Drive. Staff said the business is relocating from Pearland and plans at least $3,000,000 in renovation and expansion at the site near the Kroger shopping center.
The city's proposed incentive is approximately $30,000, payable upon project completion. Staff characterized the investment as private redevelopment that will expand the city’s tax and employment base. Council moved, seconded and approved the authorization; staff will complete the formal agreement documents and monitor completion for incentive payment.
