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Georgetown council approves business-park contracts, including LG Fox pad site and extension for CNG Motorsports
Summary
Council approved a 90‑day extension for CNG Motorsports’ closing period and moved forward land contracts for pad-ready sites, including LG Fox (projected ~150 jobs). Staff characterized the package as supporting job creation and adding about $4.4M in property sales if contracts close.
Council approved multiple business-park actions on June 22 that city staff said would support job creation and site development in the Lane Road Business Park.
Jack Connor and business‑park staff summarized three items: a request to extend CNG Motorsports’ due‑diligence/closing deadline by 90 days after the prior 180‑day period lapsed; a land-sale contract for a 4.4‑acre pad site to LG Fox (a manufacturer expected to bring roughly 150 jobs based on the developer’s projection); and additional pad‑site contracts for other industrial users. Staff said some buyers opted not to seek incentives and that the Business Park Authority and Planning & Zoning reviews remain part of standard vetting.
Council approved the 90‑day extension for CNG Motorsports and the recommended motions to accept the land-sale contracts by voice votes.
Why it matters: the transactions are part of the city’s economic development pipeline; staff estimated cumulative property sales of about $4.4 million for several pending deals and cited potential job impacts in the hundreds if all contracts proceed to closing.
