Forney EDC approves lease to Eno's Pizza Tavern

During its regular Feb. 09, 2017 meeting, the Forney EDC met and (this is the preliminary report, subject to change):

• Treasurers Report - Sales tax revenues on target, expenditures low
  
• Directors report - meeting w/ State reps, business plan competition generating popular response; Robin Hood project will be here next week, looking here & Sherman, 50 employees now, 300 in 5 yrs.
  
• Approved rescinding the incentive for MCL Construction, LLC and Guest & Gray, P.C. approved at last month's FEDC regular board meeting.

• Approved a facade grant application for Riter-Jones Real Estate, for interior + exterior work.
  Mr. Ketteman said this was an addendum, Mr. McGregor said she applied for a grant, don't have construction plans yet. Chmn. Mcbeth said there was extensive work planned, siding, windows, leveling. Mr. Ketteman explained this was a matching grant. Chmn. Mcbeth asked how much was left in the fund; have committed 10 of the 50k.
  
• Approved extending the termination date of a contractual agreement with LCG Highway 80, LLC (Leon Capital Group) until June 30, 2018.
  Has been extended once, to March, recommend to June 2018. If they don't fulfill agreement, FEDC will buy it back. Mr. Burrus said delay was beyond developers control? Mr. Ketteman: yes, some culpability on their part.
  
• Approved amending the lease agreement for the Latham Bakery & Deli to include a right of first refusal in purchasing the property.
  Chmn. Mcbeth said have done this with other properties, Mr. Ketteman said is for Groovy's, not Crumbzz. Mr. Ketteman said the FEDC can sell assets for any price they choose, but law requires an appraisal.
  
• Brad and Andrew of Racetrac spoke, saying the they are adding infrastructure. Their cost will be $618,000 above what will take to develop their portion. Here to ask for any help FEDC could provide.
  
• Held a one hour executive session re:
  
  • the potential lease of FEDC-owned property at 215 S. Bois D'Arc
    
  • incentive negotiations and agreements

• Took no action for Racetrac request.
  
• Change address of Sophia Design for agreement.
  
• 215 Bois D'arc prospect wishes to lease for a destination restaurant. Eno's Pizza Tavern 5 yr lease, varying lease rates per year. Improvements on Elm st, may add outdoor area. FEDC would help with back parking area. FEDC will also provide $100,000 reimbursable incentive, and $120,000 no-interest loan.
  Shane Spillers spoke, has been looking at space quite some time, Gary Murray introduced them to it. His mother Donna is also involved. Started Eno's 9 yrs ago. This building is perfect for Eno's. Issues: construction, distance waiver for alcohol sales.
  
• Road update: utility work by Atmos, at Elm & Bois D'arc.
  
• adj 2028.