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Kennedale EDC authorizes negotiations at a $25,000 minimum for 600 W. Kennedale Parkway
Summary
The EDC authorized negotiations to sell a roughly 3-acre EDC-owned parcel at 600 West Kennedale Parkway with a minimum negotiating floor of $25,000, contingent on a 380 tax-incentive agreement to require development; board members debated whether the price undervalues the lot but approved moving forward unanimously.
The Kennedale Economic Development Corporation moved to enter negotiations to sell a roughly three-acre parcel at 600 West Kennedale Parkway, setting a minimum negotiation floor of $25,000 after a lengthy discussion about value, site constraints and development incentives.
Speaker 7 described the property as narrow, owned since 2009 and difficult to develop. He said developer Adeline (Adelai) Pennington has offered $25,000 with a proposed 380 agreement that…
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