Bastrop EDC gives landlord notice of intent not to renew lease, schedules closed-session talks on multiple development projects

The Bastrop Economic Development Corporation voted to give E and M Properties formal notice that it will not renew the lease on its current office, effective Oct. 1, 2024. The board also announced it would move into a closed executive session to discuss multiple economic-development projects and related legal consultations.

During agenda item 4.c, Sylvia said staff (including a new staff member, Angela) expect to move into City Hall and that utilities staff had already vacated the current office area. Sylvia said staff will process furnishings through the city’s surplus process. Unidentified Speaker 6 moved that the EDC “give E and M Properties official notice that we are not going to renew,” and recommended giving notice earlier than required so the landlord has more time to find a new tenant. The motion was seconded and passed on a voice vote.

Following regular business, the chair announced the board would enter a closed executive session under the Texas Government Code, chapter 551, to discuss: economic-development negotiations regarding Project Electric Lion (section 551.087); consultation with the board’s attorney about potentially terminating the performance agreement with Project Fiesta (aka Colson LLC) (section 551.071); consultation with the attorney regarding MOCA Ventures Nebraska LLC (section 551.071); additional attorney consultations under 551.071/551.087; and deliberation about real property related to LS Electric and an offer of financial incentive to BRP (section 551.087 and 551.072). The chair said the board would reconvene afterward to consider any action necessary.