The city of Keller will offer an economic development agreement to bring Las Palapas, a Mexican restaurant, to town—expecting a 381% return on investment.
City Council voted July 6 to approve a four-year agreement recommended by city staff. Under that agreement, the city will reduce a portion of the restaurant’s sales and ad valorem property taxes each year, for a total of $83,448.10, according to a presentation by Director of Economic Development Mary Culver.
According to Culver, the restaurant is estimated to generate $105,000 annually through property tax, sales tax and mixed beverage tax.
The Las Palapas franchise at 455 Keller Parkway will be a full-service Mexican restaurant with a drive-thru, according to city documents. Other Las Palapas restaurants are located in San Antonio, New Braunfels and Selma, Texas, according to city documents.
