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EDC discusses buyer interest for 1109 W. Kennedale Parkway; no sale approved
Summary
Board discussed a potential buyer for 1109 W. Kennedale Parkway, including hotel and strip-center options and possible 380 incentives; TAD lists the parcel around $511,000 and the board asked staff to pursue appraisal and return with recommendations.
Speaker 7 told the board he has a potential buyer for 1109 West Kennedale Parkway and sought direction on how to proceed. The property is described in the packet as roughly two acres between Apache and Burger King with a TAD listing near $511,000.
The developer discussed options including a strip center or a hotel; Speaker 7 said the developer was interested in a Comfort Inn on Bowen (Bowman Springs) but for 1109 specifically a hotel concept would use hotel tax incentives rather than property-value incentives. Speaker 7 said the developer is also interested in a 3 80 agreement for the site and that the EDC could offer incentives by land sale or through a building-based incentive.
Board members emphasized the need for a market appraisal and guidance on whether to pursue a 380 agreement or demand fair market value. Speaker 6 suggested securing an appraisal; Speaker 7 said an appraisal would cost about $3,500 and staff could add the appraisal to the January agenda. Members discussed zoning fit, potential neighboring salvage-yard impacts, access and infrastructure (a nearby service road and construction activity), and whether the EDC should insist on market value for a high-quality site.
No motion was made to sell or enter negotiations during this portion of the meeting. The board asked staff to pursue an appraisal and bring the matter back for a future decision.
