new retail destination<\/a> is expected to create at least 50 full-time equivalent jobs within a year of opening.<\/p>\nThe big picture<\/p>\n
The partnership with H-E-B was made between the company; the city of Buda; Hays County; Hays County Emergency Services District No. 8, or ESD 8; and the Buda Economic Development Corp., or Buda EDC.<\/p>\n
All partners conducted thorough reviews of the site to ensure public safety and proper investment due to its former use as a landfill, according to the Buda EDC, noting that H-E-B will develop the site to be safe and accessible through environmental repair and roadway improvements.<\/p>\n
The company will complete a traffic impact analysis to assess what roadway improvements will be needed to increase traffic flow in the area, including upgrades to the Old San Antonio Road connector.<\/p>\n
H-E-B will repurpose at least 60% of the existing Buda store, located at 15300 S. I-35, for businesses that will generate retail sales tax within 18 months of the new supermarket.<\/p>\n
The breakdown<\/p>\n
The city and county approved an incentive package that will help offset the estimated $30 million land remediation cost, according to the Buda EDC.<\/p>\n
The package will provide H-E-B with $20.1 million over 30 years, funded through sales and property tax rebates. The rebates will be generated from sales and property taxes collected from the project.<\/p>\n
The city and Buda EDC will reimburse up to two-thirds of the expenses, up to $12.1 million. Hays County and the ESD will provide funds up to $4 million each.<\/p>\n
Construction on the project is expected to begin this year with locally sourced construction materials.<\/p>\n
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