Page 168 - Euless ORD 2360 Adopted FY 23-24 Budget

City of Euless

Capital Project Request

Department: ECONOMIC DEVELOPMENT Date Prepared: July 26, 1999
Submitted By: BILL RIDGWAY Date Completed:
Project Title: EULESS DEVELOPMENT CORPORATION INCENTIVE
Project Type: EDC Sub - Type: DEVELOPMENT

Project Code: DV9901 Priority: A
COUNCIL AUTHORIZATION:
March 27, 2001: Approved transfer of $ 325, 000 to North Main Street for right- of-way to free up funds for a sign
program.
May 30, 2006: Approved payment to Professional Turf Products, Inc. in the amount of $300, 000 per agreement.
April 24, 2012: Ratified Euless Development Corporation ( EDC) action taken on April 23, 2012, to approve the
first amendment to the lease and incentive agreement by and between the EDC, the City of Euless and U. S.
Concrete, Inc. and its subsidiary Redi- Mix, L. L. C., and authorizing the President to make the modification and
execute such amendment. The agreement called for a $ 150, 000 incentive payment upon the successful
relocation of the US Concrete corporate headquarters to Euless.
December 12, 2017: Approved the EDC projects and actions taken by the EDC Board of Directors on December
12, 2017 which included authorizing the President to negotiate and execute conveyance documents for the
purchase of property located at 411 North Main Street.
February 28, 2023: Approved a Chapter 380 Agreement by and between MM Euless 66 LLC, the City of Euless,
and the Euless Development Corporation ( EDC) in connection with the Watercolor Planned Development.

RELATIONSHIP TO OTHER PROJECTS AND/ OR MASTER PLAN:

PROJECT DESCRIPTION:
Euless Development Corporation funds that have been set aside to aid the City of Euless in attracting
development opportunities.

PROJECT SCHEDULE:

JUSTIFICATION:
Funding this project would enable the City to act quickly on development opportunities that arise throughout the
year.

Ordinance No. 2360, Page 168 of 326

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