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Cibolo creates Reinvestment Zone No. 2 and reviews $450M Project Theo incentive package
Summary
Council created a 126‑acre Reinvestment Zone required for tax abatement at 3641 Santa Clara Road and heard a proposed incentive package to recruit "Project Theo," a Fortune 500 distribution center estimating $450 million investment and 425 jobs; formal incentive terms remain subject to final approvals.
The Cibolo City Council on Monday voted to create City of Cibolo Reinvestment Zone Number 2, a roughly 126‑acre boundary at 3641 Santa Clara Road that the city must establish before considering a property tax abatement under state law.
City staff explained the designation is a procedural step required by the Texas Tax Code prior to entering into any tax‑abatement agreement. The ordinance creating the reinvestment zone was approved by a 7–0 vote.
Staff also presented a recruitment package for a major prospect identified in the record as "Project…
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