Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Developers pitch 600,000‑sq‑ft Gateway Hutto and seek tax‑increment tool to fund infrastructure
Summary
Kaplan Development and Sundance Analytics presented the Gateway Hutto mixed‑use plan and a proposed tax‑increment reinvestment structure (35‑year term, 50% participation) to fund roads and other infrastructure for the commercial portion of a 270‑acre annexation; no EDC vote was requested tonight.
Derek Pompey of Kaplan Development introduced the Gateway Hutto mixed‑use proposal, describing a plan that would include single‑family housing at the perimeter, multifamily units, and “upwards of 600,000 feet of commercial space” including retail, office and a hotel with a conference center. Pompey told the Hutto Economic Development Corporation the developers are currently negotiating a development agreement and are keeping the EDC in the loop while they pursue annexation and tenant recruitment.
Patrick Born of Sundance Analytics explained the tax‑increment approach the team is proposing to help make the commercial component viable. Born described a 270‑acre TIRZ/TERS boundary with a proposed 35‑year term and 50% participation, saying the incremental revenue would be “used to fund infrastructure that’s benefiting that commercial portion,” including turn‑lane widening on County Road 137 and other site‑specific improvements. He added the developers intend the city to retain 50% of incremental revenue while the other half would reimburse infrastructure and could be accelerated with bonds.
Board members and staff pressed the developers on alternatives and timing. One member noted chapter 380 agreements as an option for civic use of a conference center; staff and developers also discussed modifying hotel occupancy tax to support a civic conference facility. On timing, Pompey estimated best‑case groundbreaking in “12 to 18 months” but said securing financing hinges on final entitlements and market interest from tenants.
No formal action was taken by the EDC on the Gateway proposal; Pompey asked only to keep the EDC informed as negotiations and site entitlements progress. The developers and staff said they will return with additional details, including potential funding options and tenant discussions.
