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Council approves up to $300,000 incentive package for Stonegate Shopping Center revitalization
Summary
Council authorized an economic development agreement to support façade and site improvements at Stonegate Shopping Center: developer commits at least $850,000; city grant $200,000 after expenses are incurred and a five‑year partial sales-tax rebate limited to $300,000 city contribution.
The council approved a resolution authorizing the city manager to negotiate and execute a Chapter 380 economic development agreement with SGSC Fund LLC / CenterPoint Commercial to support a revitalization of Stonegate Shopping Center at Brown Trail and Bedford Road.
Economic Development Manager Christian Smith outlined proposed terms: a minimum developer investment of $850,000 in façade, parking and site improvements; a one-time city…
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