The project, however, is only being pitched at this point, with nothing being official. While those with the project are looking to buy the land for the development soon, several items, including agreements with the city, need to be checked off before things proceed forward.
What you need to know
Proposed by Houston-based BCS on Oct. 6, the project will be a commercial hub with several tenants along Hwy. 6 near the Manvel Town Center, according to site plan documents from the city.
To make the project happen, officials are requesting the city approve a Chapter 380 agreement, which could include a variety of incentives to help with the development, according to the Texas Comptroller’s Office website.
As part of this, BSC is asking Manvel for no capital upfront in exchange for sales tax rebates, according to a presentation from the business.
The timeframe for how BCS could recapture that sales tax revenue is up in the air, but depending on the length of the deal, it could result in BCS recapturing between around $20 million and $34 million in sales tax revenue over the life of the agreement, documents show.
Options presented at the meeting for the lifespan of the agreement ranged from 15 to 30 years, with the longer it goes on, the more sales tax BCS would recapture.
What they said
Several council members voiced support for the project, but concerns lingered over the incentive structure and the process for coming to an agreement. Council member David Lands said both parties might have to “squeeze the pennies” to come to a deal.
As a result, some council members said they were worried that not enough sales tax-producing businesses would move into the space.
“We want this, there’s no doubt about it. We want this.” Lands said. “With this thing going to be so tight, personally I think every business in there needs to be a sales tax-producing business.”
Stay tuned
Officials said an agreement, as well as sale of the land, could come as soon as the end of the year. A planned unit development, annexation of the area into the city, and a path to utilities will all need to take place prior to BCS buying the land, officials said.
If ultimately approved, tenants could be set to open in the first quarter of 2027, officials said at the meeting.
In the meantime, Mayor Dan Davis told Community Impact that nothing will officially happen until the group comes back to another meeting. As it stands, Davis said he anticipates a follow-up presentation at the council’s next meeting in November.
“In the past, developers were often handed a blank check from the city, but that is no longer the case,” Davis said. “We’re not going to sell away our future just for the sake of saying we’re growing. Every deal we make must protect Manvel’s residents, infrastructure and financial stability for years to come.”
