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Fate city manager: Kroger Marketplace and Lafayette Crossing launching commercial phase to expand tax base
Summary
Fate City Manager Michael Kovacs told the joint meeting that the Kroger Marketplace under construction west of FM 551 and the Lafayette Crossing mixed‑use project should launch a commercial phase that will generate impact‑fee and sales‑tax revenue tied to incentives in an economic development agreement.
Michael Kovacs, city manager for Fate, told the joint meeting that commercial projects including a Kroger Marketplace and the Lafayette Crossing development are moving forward and will help diversify the local tax base that supports public services.
Kovacs said the Kroger Marketplace site west of FM 551 is under construction and "that scraped field there west of 551, that is the Kroger marketplace," noting outparcels are planned for restaurants and shops. He said the development's economic development agreement relies largely on impact fees generated by the project and on sales‑tax reimbursement subject to performance and time limits.
Kovacs also described Lafayette Crossing as a long‑term residential and mixed‑use project approved in February 2024, with a mix of single‑family and multiunit housing and a commercial phase intended to attract retailers, including multiple bank prospects he said were interested in locating there.
