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Here are three recent development stories making an impact in Cedar Park.
1. City approves multimillion-dollar deal with construction materials company
Cedar Park City Council approved an economic development deal June 25 with construction materials company Texas Materials centered around a $2 million grant and a rebate of sales tax revenue generated by the company.
The framework
Under the agreement, the company will establish a new regional headquarters at the Town Center Office Park, located northeast of the intersection of Bell Boulevard and Whitestone Boulevard, Chief Economic Development Officer Arthur Jackson said.
The agreement provides the company a sales tax revenue rebate of 100% for the first two years, and an amount gradually decreasing to 75% over the first 10 years. Provided Texas Materials meets the requirements laid out in the agreement for the first 10 years, the sales tax rebate will be extended another 10 years.
The sales tax revenue rebate is capped at about $1.1 million annually and $11.3 million in total.
2. Master plan in the works for potential recreation center expansion
Architecture firm Barker Rinker Seacat will develop a master plan for a potential future expansion and renovation of the Cedar Park Recreation Center after City Council approved a contract June 25.
The details
The master planning process will “evaluate the existing facility, identify amenities that will best serve both current and future users, and incorporate stakeholder engagement,” city documents state.
The architecture team will look into the feasibility of adding amenities identified as priorities in the 2024 Parks Master Plan, such as an indoor pool, fitness facilities, playground areas and tennis and pickleball courts.
3. City strikes $1.5 million economic development deal with weapons manufacturer
City Council members approved a $1.5 million economic development agreement with weapons manufacturer Aeon on May 28 to bring the company’s headquarters and manufacturing facility to Cedar Park.
The framework
Aeon will be the first tenant of the new Cedar Tech I development, located at 2305 Scottsdale Drive, just north of New Hope Drive, Chief Economic Development Officer Arthur Jackson said. The company will move into a 48,000-square-foot facility that will house its headquarters and manufacturing facility, city documents state.
Aeon designs and produces advanced missiles and the software that guides them. The company’s two main products are a “precision weapon system” called Zeus and the “autonomous targeting software” that guides those weapons, called ODIN, according to the company’s website.
