Council passes Parmer Ranch Trails incentive

Parmer Ranch Trails, a mixed-use project located southeast of the Parmer Lane and Ranch Trails intersection in Cedar Park, is moving ahead with office building plans.
Initially, this development was designated to have two-story restaurants and shops in the first phase, and offices in the second phase.
However, one of the project’s partners, Riverside Resources, discovered a tenant who hoped to relocate earlier into of the office buildings.
“Riverside is going to be building a 24,000-square-foot two-story office with a value of approximately five million,” Phil Brewer, Cedar Park’s economic development director, said.
According to Brewer, the project will bring 75 new jobs to the city with an average salary of $80,000.
“This project does have a positive economic impact on the community, with the relocation of the regional headquarters for a commercial contractor,” he said.
Although Brewer did not name the contractor, he said the company would take the space of half of the building, which will be located on more than 2 acres of the 25-acre project.
In order to provide incentives for the office building allotment of the development, Cedar Park City Council approved a resolution at its last meeting to reimburse the office developer no more than $413,000 in infrastructure construction costs.
According to Brewer, this amount portrays about half of potentially reimbursable costs for new infrastructure. Reimbursement funds will come from the Cedar Park Economic Development Corporation.
In order to be eligible for the reimbursement, Riverside must complete the infrastructure according to city codes and obtain a certificate of occupancy for the office building no later than May 31, 2017.
Cedar Park Economic Development Corporation would then issue half of the total reimbursement to Riverside within 45 days.
The rest of the reimbursement would be issued in the next 45 days.
According to Brewer, the new office building would also create 25 indirect jobs in the city.
As a planned development, the project is subject to specific allowed uses and architectural standards such as similar color tones and masonry. A planned development also includes limited parking and shopping entrances as well as an emphasis on green space and trails.
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