Hutto to consider $3M incentive for retail development

A proposed commercial development on Ed Schmidt Boulevard in Hutto could receive $3 million in incentives from the Hutto Economic Development Corp.

Known as Project ESLO, the project is slated to include a mix of restaurants, retail and office space at the corner of Ed Schmidt Boulevard and the upcoming Live Oak Street extension.

At a June 1 meeting, Hutto City Council will consider a resolution authorizing the Hutto EDC to award a $3 million incentive to the project's developer.

Of the proposed $3 million incentive, $1.5 million is a performance grant that would be awarded at certain development milestones over a 10-year period. The other $1.5 million comes in the form of sales tax reimbursements that would be awarded over 15 years.

The agreement includes several stipulations, including requirements for specific materials and finishes to be used in the development's buildings.

If approved June 1, the resolution will need a second reading at a later meeting.