Developer Agreements

  1. Greens Crossing POA – Median Improvements on Greens Parkway (Benches and Landscaping) on the Greens Parkway Public Right of way – $130,000.
  2. Simmons Vedder – CG Lima – Linear Art and Pedestrian Park on Greens Crossing as part of Distribution Center project. The Authority reimbursed CG Lima $208,000 for construction of the linear park and added two pieces of public art by Eric Ober. As part of the agreement they constructed three distribution buildings. They have since added two more buildings.
  3. Industrial Developments International (IDI) – Developer Agreement in connection with Greenspoint Drive Extension and pedestrian amenities between the Beltway and Aldine Bender and $1 million towards the construction of Greenspoint Bridge. The Authority paid for bridge engineering and construction overage over $1 million. The overage was $381,827. An initial payment of $1.5 Million was paid after the bridge and street construction was completed the balance is paid annually based on increment generated by the project. 2017 will be the last payment owed to them. They have since added two additional buildings to their project site. The original vacant property yielded approximately $30 thousand in annual revenue. Since the completion of five buildings, the property now yields over $500,000 in tax revenue.
  4. Northbelt VI or Beltway Technology – Developer paid to engineer and construct a new roadway with lighting and pedestrian amenities between the Beltway and Greens Parkway. In addition, the Developer created a public park around a detention area as part of the development. The Developer agrees to maintain both the roadway and the park for the life of the project. Payment was made to the developer upon completion of the improvements and development of an office building for the Houston headquarters of Lennar Homes. This cost approximately $2,000,000.
  5. Fire Station 84 with the City of Houston – The City agreed to design the Station and the Authority agreed to pay for the construction $7,300,000 Million and donate 10.1 acres of land for the Fire Station and a future Public Safety Center.
  6. Northbelt Business Center Number V – Provided additional pedestrian amenities to the public areas in connection with the construction of an office building $100,000.
  7. Greenspoint Mall – Greenspoint Mall continues to be a challenge. A development deal was executed. We are still trying to work with them on a solution for the property. Retail and office are probably not going to be viable for the site, so other options are being explored.