How it started
The GE Betz property, located at 9669 Grogans Mill Road in The Woodlands, is an 11.6-acre tract of land purchased by The Woodlands Township in 2015 for $15.2 million, township President and CEO Monique Sharp said during the meeting.
The building, which existed on the land for GE Betz, was demolished in 2023, and the township approved seeking an official appraisal on the land in April following the demolition.
The land was then added as part of the priority list for the township’s Ad Hoc Economic Development Committee during the township’s fiscal year 2024 budget discussions.
How it’s going
Board member Shelley Sekula-Gibbs said the township should focus on understanding the scope of any restrictions on the property and what the fair market value of the land would be if sold to another entity.
“I think it is really valuable for us to get all of the facts and let them be known to the public before any kind of decision is made,” Sekula-Gibbs said. “That will influence who comes to us with an offer.”
Board Chair Ann Snyder, who is also a member of the Ad Hoc Economic Development Committee, said the committee does not have the authority to make a binding decision.
"The committee's purpose is exploratory in nature, and exploring the possibilities with this property is one of the items we discuss," Snyder said.
Since the township owns the land, the township does not collect property taxes from the land. Sharp said yearly property taxes for the land alone would likely bring in around $25,000 in tax revenue as-is.
Quotes of note
“At what point do we decide that is not a good use of an asset we have? So I think that is the concern of myself and perhaps others on the board,” board member Kyle Watson said. “I think the original intents and purposes for this land in terms of why it was acquired may have changed, and if that’s the case, what do we do with the land?”
“People are obviously interested; it is precious land, beautiful land,” Sekula-Gibbs said. “It is the last space of that size available in the downtown area.”
What’s next?
The board agreed to have legal council bring forward any potential restrictions on the property as well as what the township’s limits are with regards to any development or sale of the land.
