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Manvel MEDC members press to renegotiate P3 terms for 160‑acre municipal complex
Summary
The Manvel MEDC board discussed Project 2020‑02, a proposed 160‑acre municipal complex funded largely by MEDC sales‑tax revenue under a P3 arrangement, and scheduled meetings with city staff to seek clarity and attempt renegotiation before funds are irreversibly committed.
Speaker 1, board member, opened the meeting by reviewing Project 2020‑02, a proposed 160‑acre municipal complex governed by an MOU that would dedicate 90% of MEDC sales‑tax revenues to the city to develop and construct the facility. "That commitment of funds by M.E.D.C. may be used to fund bonds, certificates of obligation, and other funding mechanisms," Speaker 1 said.
Board members said they have not seen final P3 contract terms. Speaker 1 said he did not "know a 100%" what the…
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