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Developer asks Rio Grande City EDC for $150,000 incentive to redevelop vacant strip into Legacy Plaza
Summary
A developer told the Rio Grande City EDC it plans to convert the former Whataburger site into an 11,072-square-foot retail plaza and is requesting a $150,000 incentive — about 4% of the roughly $3.8 million project — to cover demolition and site work.
Mark Hanna, principal at SVN commercial brokerage, told the Rio Grande City Economic Development Corporation on Tuesday that his client, developer Wally Guerra, bought two parcels — the AT&T property and the former Whataburger site — last year for $1,700,000 and plans to turn them into an 11,072-square-foot retail plaza.
“We are here to ask for, an incentive of 150,000,” Hanna said, adding that most of that money would go toward demolition and site-preparation work. He estimated construction…
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