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EDC clears title on 4-acre Alexander Village parcel to allow conveyance to developer
Summary
The Balch Springs EDC Type A approved releasing a right of repurchase and prior restrictions on a 4-acre tract at 13601 IH 20 (Alexander Village) so the parcel can be conveyed to the current developer under a new economic-development agreement.
The Balch Springs Industrial and Economic Development Corporation (Type A) voted April 20 to release a right of repurchase and prior development restrictions on a 4-acre tract at 13601 Interstate Highway 20 to allow conveyance to the current developer. Staff said the EDC previously reacquired the parcel after a prior developer did not meet obligations and that removing the old restriction is an administrative step to clear title for the new developer, Balch Springs Alexander LLC.
Staff attorney and staff representatives briefed the board on the title review and recommended releasing the restriction so the property can be conveyed free and clear to enable the proposed retail and restaurant uses under the Alexander Village economic-development agreement. Board member Will Toba moved the item; the motion was seconded and the board approved the release on a roll-call vote with members Felicia Riddick, Gwendolyn Gardner, Will Toba, Natasha King and Dr. Christopher Perkins voting yes. Staff said the conveyance implements an existing economic-development agreement and described the action as largely administrative.
The board did not discuss any amendments to the economic-development agreement during the meeting. Staff indicated the developer is engaging retail and restaurant users under the confidentiality terms of the agreement and that infrastructure work (collector road and related utilities) is expected to continue through the end of the year into early next year.
