The gist
The two properties are located off Frenchtown Road and US 377. One property is a Shell gas station with a convenience store and Sonic drive-thru located at 104 Frenchtown Road. The other is a two-story office and retail building currently under construction located at 8595 US 377.
The details
The town of Argyle created a 10-year contract with the owner of the Shell gas station to give a grant worth 70% of the property taxes paid annually by the owner. In return, the town will collect the full amount of local sales taxes from the Shell station.
The purpose of this agreement is to help fund a sanitary sewer line for the property and the property south of the Shell gas station. This project will be completed no later than May 1, according to city documents.
The owner of the Shell station must write a request to the city for the grant money every year no later than Aug. 1 for the town to continue to offer the grant.
Also of note
A strategic partnership agreement was approved with Belmont Freshwater Supply District No.2 to share the sales tax levied within the commercial area of the Harvest development. Argyle would receive 0.75% of the sales tax, with 0.25% of that tax going back to the municipal management district.
In other news
Argyle Town Council voted to solicit bids to repair Frenchtown Road.
The lefthand side of the road is owned by Argyle and has cracks along a 600-foot stretch of the road between Caublestone Hill Drive and Indian Trail. The right-hand side of the road is owned by Bartonville and has no cracks along that stretch.
