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Balch Springs EDC unanimously approves up to $2.2 million incentive for Alexander Village
Summary
The Balch Springs Community and Economic Development Corporation approved a second amended Chapter 380 agreement with Balch Springs Alexander, LLC to provide an economic incentive not to exceed $2,200,000 for the Alexander Village mixed-use development; the motion passed unanimously after a closed executive session under Texas Government Code sections 551.087 and 551.071.
The Balch Springs Community and Economic Development Corporation voted unanimously to approve a second amended and restated Chapter 380 economic development program and performance agreement with Balch Springs Alexander, LLC for an incentive not to exceed $2,200,000 for the Alexander Village mixed-use development.
Board member Williams moved to approve the agreement and board member Watson seconded; the secretary called the roll and each named member voted yes. The board had convened in a closed executive session under Texas Government Code sections 551.087 and 551.071 to receive legal advice and deliberate financial incentives for a business prospect before reconvening into open session and taking action.
Staff described the agreement as a revised Chapter 380 performance and program agreement that would support the Alexander Village project, located near Interstate 24051 and South Beltline Road. The motion language approved the 2nd amended and restated Chapter 380 agreement "as presented." Board discussion at the open session did not add conditions to the motion and no board member recorded a dissenting vote.
Next steps noted by staff included preparing the final signature documents for the developer and any ministerial follow-up required to implement the Chapter 380 incentive. The board did not specify an effective date in the public motion; the agreement was approved "as presented" by the board vote.
