In a flurry of resolutions taking less than 15 minutes in all, the Burnet Economic Development Corporation (EDC) cleared the way Monday for development of EDC property on South Water Street.
Among other things, the resolutions pledged EDC sales tax to repay a $1.4 million loan from First State Bank for the development and for payment of other expenses. Monthly payments on the loan should be about $13,428, City Manager David Vaughn said.
EDC board members also awarded the contract for the development to Fromberg Construction LLC of Austin. Fromberg’s bid of $1,191,480.16 for a base proposal was the lowest of four bids for base work on the 13.51-acretract. Supplemental work that would have totaled $476,167.17 was not included in the contract.
The contract calls for erosion control, site preparation, street and drainage improvements, water improvements and the addition of a deceleration lane where the property fronts US 281, which is South Water Street.
The US 281 frontage is between a Shell service station and convenience store at the corner of the highway and Houston Clinton Drive and the Henderson car wash. All are on the west side of the highway. The EDC property also fronts Houston Clinton Drive behind the Shell station.
As a formality, city council members would be asked at Tuesday’s meeting to approve some of the resolutions. That was not expected to draw objections from the council.
