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Bryan Council approves rezonings and backs Chapter 380 loan for 200-space Lake Walk parking garage
Summary
The Bryan City Council approved multiple rezonings and unanimously authorized a Chapter 380 arrangement that lets the city’s development arm backstop an $1.8 million loan for a 200-space parking garage to support Lake Walk and Traditions area development.
The Bryan City Council on Tuesday approved a series of land-use changes and authorized a Chapter 380 arrangement that will allow the city’s development arm to backstop a loan for a 200-space parking garage in the Lake Walk/Traditions area.
Lindsay, introduced by the city manager as a representative of Bryan Community Development (BCD), told the council that BCD holds 80 percent of the limited-partnership interest for the Lake Walk project and William Cole Ventures holds the remaining 20 percent. Lindsay said the partnership has added more than $1 billion in development value and generates roughly $3 million annually in tax…
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