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Sugar Land 4B approves $69,000 incentive for 1st Colony Commons lighting and site upgrades
Summary
The Sugar Land 4B Board approved a performance agreement with Dinani Private Equity Group to reimburse roughly 20% ($69,000) of a $363,000 reinvestment at 1st Colony Commons for lighting, restriping and cleaning; the agreement requires permits, POA approval and creation/maintenance of at least 10 jobs.
The Sugar Land 4B Corporation Board approved a performance agreement to reimburse Dinani Private Equity Group about 20% of a $363,000 facelift at 1st Colony Commons, board members heard at their meeting.
Staff presenter Jonathan described the proposal as a comprehensive set of site improvements that include a $238,000 lighting upgrade (replacement of pole-mounted fixtures and wall-mounted units), parking-lot restriping and pressure/soft washing. "The total project cost here is 363 k with a request from the SL 4B for 20% of that at about 69,000," staff said. The applicant, Nikhil Dinani, identified himself as president of Dinani Private Equity Group and was present for the discussion.
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