During its Dec. 4 meeting, Tomball City Council unanimously approved on first reading five Tomball Economic Development Corp. agreements with various commercial businesses, including Craving Kernals and First Community Credit Union.
The economic agreements include rental incentives, infrastructure grants, and job creation and retention grants, which are performance-based and will not be paid out until the respective businesses have fulfilled their obligations laid out in the agreements, Community Impact previously reported.
Diving in deeper
The Garza Agency, which offers insurance and financial services, will receive $10,000 in rental assistance for opening a second location at 28427 Hwy. 249, Tomball, according to the Dec. 4 agenda packet. The new location will create up to six full-time jobs and the business will operate for at least three years, according to the agreement.
Craving Kernals, which has a retail storefront along Market Street, will receive $8,820 in rental assistance for opening a location to house manufacturing and distribution operations at 702 S. Persimmon St., Ste. 3A, according to the Dec. 4 agenda packet. The business will keep its retail location.
Headquarters TOO, LLC will receive $102,459 in infrastructure incentives for the development and construction of a 15,500-square-foot commercial facility at 1417 Graham Drive, Tomball, according to the Dec. 4 agenda packet. The commercial facility will house retail tenants that could include restaurants, a yoga studio, an ice cream shop and a dentist. The space is anticipated to be turned over to tenants in late spring 2024, according to the agenda packet.
First Community Credit Union will receive $64,721 in infrastructure incentives for the development and construction of a 4,074-square-foot office building at 26902 Hwy. 249, Tomball, according to the Dec. 4 agenda packet. The new office will be located in front of Costco, with the two businesses set to share a driveway, according to the agenda packet. First Community Credit Union is anticipated to break ground in early 2024 and be completed in the first quarter of 2025.
IC Star Solar (USA), LLC will receive $522,000 in grant funding for creating or retaining primary jobs associated with the development of its corporate headquarters at 19200 Hamish Road, Tomball, according to the Dec. 4 agenda packet. The company, which is a manufacturer of photovoltaic power generation products of solar cells and modules, anticipates hiring for 348 jobs over the next three years.
Other council actions
Council approved, on first and final reading, an ordinance authorizing the issuance and sale of certificates of obligation, which will provide $28 million in proceeds to be used to fund water, sewer and parking capital projects, according to the Dec. 4 agenda packet.
According to prior reporting, the $28 million will be used for:
- North Sycamore Street parking: $1.5 million
- Baker Drive water plant: $4.6 million
- FM 2920 lift station consolidation: $4.8 million
- South Wastewater Treatment Plant expansion: $16.97 million
Learn more
View the TEDC agreements below.
