Post Number: 124
|Posted on Friday, December 28, 2007 - 10:58 pm: |
On page 7 of this document, there are FEDC projects. Is this amount what the FEDC invested or the company itself invested? If the company, where is the information about what incentives the FEDC has given, invested, etc. I also noticed General Growth did not have details (mall). I believe the mall is now coming off the incentives, can a breakdown be provided and how much taxes the city should now get.
Curt Balogh, Spec. Asst. to the City Mgr
Post Number: 486
|Posted on Monday, January 07, 2008 - 08:04 am: |
The investment amount shown for each project in the report represents the projected dollar investment by the Company for a project in the City of Frisco. The General Growth project information listed is not related to Stonebriar Centre’, it is related to property that General Growth has under contract on the southwest corner of US380 at the Dallas North Tollway. The investment amount is unknown at this time as development plans for property are not final.
James L. Gandy, CEcD
Frisco Economic Development Corporation
6801 Gaylord Parkway, Suite 200
Frisco, TX 75034
Per Nell Lange, Assistant City Manager:
The mall agreements do not end until 2010. The city currently receives all of the city sales and use taxes from the mall and rebates back to the mall developers the incentive amounts. The city’s share of the rebates for 2007 totaled approximately $2.9 million.