Synopsis of EDC Meeting March 11, 2019 -- Inside River Oaks

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Date Posted: 20:07:01 03/13/19 Wed
Author: River Oaks Reporter
Subject: Synopsis of EDC Meeting March 11, 2019

Synopsis of EDC Meeting March 11, 2019

The meeting started on time. All members present. Not a whole lot discussed, but I'll hit the highlights.

The entrance sign on 183 as you come from Westworth Village is finally complete.

The new road put in by the city behind the old Jessie's Donut's connecting it to Black Oak is being cut open to allow for a grease trap and also being dug up due to a gas leak in an Atmos Energy gas line. Both are supposed to be repaired but there will still be patches instead of one new smooth road.

Next item was a lengthy discussion on EDC financial help to the new Nish Restaurant. Since the owner has almost completed the project, it usually makes it non eligible for EDC funds. Since this was an on going negotiation and the fact the owner was encouraged by the city to not put in a smoke shop, which was his original plan, led to the direction of having a restaurant. Original negotiations were leaning towards helping the renter with paying the monthly rent. Since that renter has bailed on the current restaurant project, the owner of the property has taken on the project for the restaurant himself. The owner has now requested some type of financial help and a tax abatement. The board seemed concerned about a long time deal with someone who doesn't have restaurant experience. The board then went into a lengthy executive session. Upon returning they had no agreement in place and wanted some hard numbers to be supplied by the property owner so the board could come up with a final deal. The property owner was concerned that this issue couldn't wait another couple of weeks to be resolved. It was stated they would have an answer in one week.

Last item on the agenda was suppose to be a presentation by Paul Paine. Basically, his only remark was that he will have a presentation and more staff working on the TIFS presentation at the March 23 work shop 8am at The Event Center.

Meeting adjourned.

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