Ruby Hotel to build event center in Round Rock
Round Rock City Council approved an economic development agreement with the Ruby Hotel to construct a special events center at its meeting March 13.
The details
The Ruby Hotel sits off Fannin Avenue near Round Rock's downtown. With council approval, the hotel owners purchased city-owned land east of the hotel in order to build an event center.
The project will cost an estimated $5 million, according to city officials.
The economic development agreement also authorizes a $2.65 million loan for project improvements, which must be paid back in full within four years. Per the agreement, the city would have five days annually to utilize the event center.
The hotel will also receive 75% economic incentive payments based on the hotel occupancy tax and property tax payments for both the hotel and special events site, through 2029.
What else?
As part of the agreement, the hotel owners will sell back a portion of the land to the city so that it can build a bridge landing, connecting the area across the Brushy Creek to downtown.
Old Settler’s Park to receive new playground
Round Rock City Council approved a purchase at its meeting Feb. 27 to replace the former Joanne Land Playground.
The gist
The new custom-designed playground cost the city $1.87 million.
The structure is two to three times larger than the previous playground, and also includes built-in LED lighting for safety and accessibility. Adjacent to the playground structure will be a section for swings and a "tot" area for younger children.
Round Rock planned to replace the Joanne Land Playground as part of the overall Old Settlers Park build-out project due to high use from the public.
KoMiCo Technologies awarded $2M grant
KoMiCo Technologies, a semiconductor parts cleaning and coating company headquartered in South Korea, received a $2 million grant from the state of Texas in March.
What you need to know
Per a March 7 release from Texas Gov. Greg Abbott's office, the grant is part of the Texas Semiconductor Innovation Fund, an incentive program to encourage semiconductor research, design and manufacturing in Texas.
The fund awards grants to state entities and higher educational institutions for manufacturing and design projects, as well as businesses like KoMiCo with established presences in the state.
WilCo approves Spaceport Development Corporation
Williamson County commissioners approved the creation of the Central Texas Spaceport Development Corporation at a March 11 meeting.
Two-minute impact
The Central Texas Spaceport Development Corporation, or SDC, is a partnership with Burnet County.
An SDC is a public, private or public-private partnership that develops, manages and operates a spaceport, said Arthur Jackson, chief economic development officer for the city of Cedar Park.
Spaceports are specialized launch and landing facilities for spacecraft, rockets and satellites, he said.
While there are six key functions to an SDC, Jackson said Williamson and Burnet counties will focus on:
- Infrastructure development
- Economic development
- Partnerships and funding
- Innovation and workforce development
Who it’s for
Firefly Aerospace, headquartered in Cedar Park, is the first commercial company to successfully land on the moon March 2. The company’s testing facility is located in Briggs, which is within Burnet County.
Through the SDC, Long said the two counties are prepared to attract synergistic companies to join Firefly Aerospace.
What to expect
During the meeting, commissioners also approved the bylaws for the SDC.
Jackson said the remaining steps for the Central Texas SDC to form include filing articles of formation, appointing a seven-member board and receiving approval from Williamson County and Burnet County commissioners courts.
