Monday, September 27, 2010

Bastrop airport moves ahead

PR surrounding the signing of the 381 Agreement in the Austin Business Journal.

Planned $150M Bastrop airport moves ahead
June 15, 2010

A $150 million private airport slated for western Bastrop County moved forward this week, garnering commissioners’ unanimous approval Monday for tax rebates and incentives to the company building the center.

Under the “381 agreement,” developer Jim Carpenter & Associates Inc. would be rebated 75 percent of local property taxes for 30 years. The county would reportedly still receive more from the remaining 25 percent paid then it currently receives annually from the property, which is estimated between $99,000 and $120,000.

Under terms of the agreement, the 600-acre Central Texas Airport near the intersection of FM 1704 and 969 could not be used for commercial purposes.

The airspace will be part of the 1,200-acre Green Corporate Centers, which Carpenter previously said will serve as a showcase for renewable and sustainable energy technology companies supporting the airport. It could include 4 to 5 million square feet of industrial space.

Construction is set to begin June 30, 2012 or earlier, and finish some time before the same date in 2014, pending county design approval.


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