CURRENT PROJECTS
ESPIRITU SANTO TIRZ #2 - CITY OF BROWNSVILLE
Partners: City of Brownsville, Cameron County, Madeira Properties, Ltd.
Project: Create a new tax increment reinvestment zone in City of Brownsville / Cameron County over 1400 acres of land located at the intersection of Texas Hwy 100 and US Hwy 77.
Approach: The effort will propose the creation of a Local Government Corporation (LGC) to serve as the financing vehicle for the project. Additionally, it will require the negotiation of an agreement between the City and the County for their respective participation in the TIRZ.
Goals: Finance the development of a mixed use project that includes new commercial uses, medical facilities, public use facilities including safety and green spaces, financing public amenities, facilitating the development of educational facilities, and financing drainage and detention needed to enable the project to develop.
PARKWAY DEVELOPMENT FINANCING: FORT BEND COUNTY, TX
Partners: Fort Bend County Commissioner, Fort Bend County Municipal Utility District #50, Robert Ferguson, master developer of Parkway Lakes Development project
Project: Serve as Executive Director of the North Fort Bend Redevelopment Authority to facilitate and enable the development of approximately 160 acres of land into a mixed use commercial and residential development
Approach: The developer, Parkway Lakes Master, Ltd. will finance component parts of the masterplanned development, and/or negotiate the development by others, and receive reimbursements from the Redevelopment Authority as future revenues from the MUD and the County are generated. The Authority, at the appropriate time, and when revenue streams are adequate, will sell tax exempt bonds to accelerate the reimbursements.
Goal: The completion of a Class A development in Fort Bend County.
MADEIRA TIRZ MIXED USE DEVELOPMENT PROJECT- BROWNSVILLE,TEXAS
JANUARY 2017- PRESENT
CEDs worked with the developer and the City of Brownsville to create a tax increment reinvestment zone and a public improvement district overlay for a 1400 acre mixed use commercial and residential development project that will also include light industrial uses, medical facilities, and a entertainment zone, with over $40MM in public amenities. Total benefit to the developer will exceed $180M. Total Capital investment is estimated to be $1.3B CEDs has an active contract to work with the City / Developer / County, and a new Homeowners Association to structure contractual relationships between the public and private parties for longterm maintenance of public amenities, through the activation and use of the public improvement district.
CITY OF DEL RIO SECOND PORT OF ENTRY
JANUARY 2022- PRESENT
Working with RRP Engineering and the City of Del Rio, CEDS has been hired to prepare a financial feasibility analysis and report for incorporation into the City’s submission to the US State Department to amend the existing presidential permit for the existing Port of Entry. The project will likely entail the creation of one if not two special purpose district mechanisms to assist with financing the new port of entry.
CREATION OF A SPECIAL PURPOSE DISTRICT (TIRZ) FOR CAPA TEXAS
IN LOS FRESNOS, TEXAS -OCTOBER 2022 - JULY 2024.
Created a new tax increment reinvestment zone and local government corporation in the city of Los Fresnos at los Fresnos redevelopment authority to reimburse approximately $70M in development costs for a mixed use residential / commercial development. Capa Texas is the developer. Of that total, the estimated incentive benefit to the Developer is $60M, as approved in the development reimbursement agreement with Capa.
CREATION OF A SPECIAL PURPOSE DISTRICT (TIRZ) IN TOWN OF INDIAN LAKE
OCTOBER 2022 TO DATE.
Created a TIRZ and local government corporation for Capa Texas to reimbursement of approximately $10M in development costs associated with a residential development at Indian lake redevelopment authority. Developer has requested modifications to the Project Plan/ Reinvestment Zone financing Plan to expand the incentive benefit based on a modified land use plan for the zone.
EXODUS PROJECT-CALDWELL COUNTY TEXAS
AUGUST 2022 - PRESENT
CEDS was hired by Genesis Consolidated Industries to structure public participation and incentives to mitigate approximately $440M in development project costs for the initial phase of the project. whose total capital costs are estimated at $1.2B. The project will build 1.8GW of solar power generation facilities, and a 250-450 MG Battery storage facility. Project will ultimately develop two additional phases, with comparable capital investments; incentives will likely include creation of at least one TIRZ, a local government corporation for tax exempt bond financing, and possibly other special purpose district overlays. The financial feasibility analysis is on-going.
ELEVATED FREIGHT TECHNOLOGIES LLC - GREEN CORRIDORS
Jun 2023 - Present-On Call Consultant
This project is working to bring a new clean, green technology to the movement of container freight from the Port of Houston to local and distant points of delivery, using clean non-polluting vehicles, in the first phase, using remote terminals, state of the art software to facility and improve on- time deliveries to beneficial cargo operators, and in the final phase, further improving the same through the use of automated vehicles. This project is being developed simultaneously in Houston, Texas at the Port of Houston, in El Paso Texas, in a land terminal setting using two existing ports of entry. Both locations are in Phase I of their development, and In Laredo Texas, in coordination with TxDOT. CEDS has provided assistance with financing strategies, local government coordination, grant financing assistance, and public finance.
TIRZ DEVELOPMENT PROJECT- MERCEDES,TEXAS
CEDS is working with the Client and the City of Mercedes to create a TIRZ to facilitate the development of just over 225 acres into a residential development. The reinvestment zone will enable the recapture of costs associated with infrastructure and reimburse up to $88+ million including interest in project costs. The plan also provides for Chapter 380 funding and Zone Administration. The City will request Hidalgo County approve an inter-local agreement to participate in the TIRZ.