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Home My WebLink About06-04-2026 CDC/EDC Packet MEETING AGENDA ANNA COMMUNITY DEVELOPMENT CORPORATION AND ANNA ECONOMIC DEVELOPMENT CORPORATION Thursday, June 4, 2026 @ 6:00 PM The CDC/EDC of the City of Anna will meet on Thursday, June 4, 2026 at 6:00 PM, in the Anna Municipal Complex – Council Chambers, located at 120 W. 7th Street, to consider the following items. 1. Call to Order, Roll Call, and Establishment of Quorum. 2. Invocation and Pledge of Allegiance. American Pledge: I pledge allegiance to the flag of the United States of America, and to the Republic for which it stands, one nation under God, indivisible, with liberty and justice for all. Texas Pledge: Honor the Texas flag; I pledge allegiance to thee, Texas, one state under God, one and indivisible. 3. Neighbor Comments. Persons may address the Board of Directors on items not on the agenda; please observe the time limit of three (3) minutes. Members of the Board cannot comment on or deliberate statements of the public except as authorized by Section 551.042 of the Texas Government Code. 4. Consent Agenda. a. Approve minutes from the May 7, 2026, Joint Community Development Corporation and Economic Development Corporation Meeting. (CDC) b. Approve minutes from the May 7, 2026, Joint Community Development Corporation and Economic Development Corporation Meeting. (EDC) 5. Items For Individual Consideration. a. Conduct a Public Hearing and Consider/Discuss/Action on Resolution No. 2026-06-9 approving an Economic Development Incentive Agreement between the Anna Community Development Corporation, the City of Anna, and BVE Anna NEC LLC relating to the proposed Rosamond Town Center Development. (CDC) 6. Manager's Report. a. Strategic Plan Update b. Financial Report / Sales Tax Update c. Event Updates / Upcoming Events / Reminders 7. Closed Session. a. Consult with legal counsel on matters in which the duty of the attorney to the governmental body under the Texas Disciplinary Rules of Professional Conduct of the State Bar of Texas clearly conflicts with Chapter 551 of the Government Code (Tex. Gov’t Code §551.071); Grant program; Lease agreement and professional services contract. Pending Contracts. b. Deliberate regarding the purchase, exchange, lease or value of real property. (Tex. Gov’t Code §551.072) possible property acquisition; possible land sale/purchase. c. Discuss or deliberate Economic Development Negotiations: (1) To discuss or deliberate regarding commercial or financial information that the Board of Directors has received from a business prospect that the Board of Directors seeks to have locate, stay, or expand in or near the territory of the City of Anna and with which the Board is conducting economic development negotiations; or, (2) To deliberate the offer of a financial or other incentive to a business prospect described by subdivision (1). (Tex. Gov’t Code §551.087); potential retail and medical projects. 8. Reconvene into open session and take any action on closed session items. 9. Receive reports from staff or Board Members about items of community interest. 10. Adjourn. This is to certify that I, Natasha Roach, Director of Economic Development, posted this Agenda on the City’s website (www.annatexas.gov) and at the Anna Municipal Complex bulletin board at or before 5:00 p.m. on 05/29/2026. ______________________________ Natasha Roach, Director of Economic Development IMPORTANT LEGAL NOTICE: The Corporation may vote and/or act upon each of the items listed in this agenda. The Corporation reserves the right to retire into executive session concerning any of the items listed on this agenda, whenever i t is considered necessary and legally justified under the Open Meetings Act. In accordance with the Americans with Disabilities Act, it is the policy of the City of Anna to offer its public programs, services, and meetings in a manner that is readily accessible to everyone, including individuals with disabilities. If you ar e a person with a disability and require information or materials in an appropriate alternative format, or if you require any oth er accommodation, please contact the ADA Coordinator at least 48 working hours in advance of the event by emailing adacompliance@annatexas.gov. Advance notification within this guideline will enable the City to make reasonable arrangements to ensure accessibility. “NOTICE OF POSSIBLE QUORUM” Thursday, June 4, 2026 @ 6:00 PM CDC/EDC Meeting Anna Municipal Complex, Council Chambers 120 W. 7th St. Anna, Texas, 75409 The Anna City Council, Board of Adjustment, Neighbor Engagement and Inclusion Advisory Commission, Parks and Recreation Advisory Board, and Planning and Zoning Commission may have a quorum in attendance at this meeting. CDC/EDC Meeting It is not a certainty that a Quorum or other number of members of a City Affiliated Body will attend the event; and No vote or any other action will be taken by any Quorum or other number of members of a City- Affiliated Body that may be in attendance at the event; and The attendance or nonattendance of the event by a Quorum or other number of members of a City-Affiliated Body is not an endorsement or any other type of statement in support of or against any event, topic, position or issue that may be the subject of or discussed at the Community Meeting. This is to certify that I, Natasha Roach, Director of Economic Development, posted this Notice of Quorum at a place readily accessible to the public at the Anna City Hall and on the City Hall bulletin Board by 5:00 PM, 05/29/2026 _________________________ Natasha Roach, Director of Economic Development Item No. 5.a. EDC/CDC Agenda Staff Report Meeting Date: 6/4/2026 Staff Contact: Natasha Roach AGENDA ITEM: Conduct a Public Hearing and Consider/Discuss/Action on Resolution No. 2026-06-9 approving an Economic Development Incentive Agreement between the Anna Community Development Corporation, the City of Anna, and BVE Anna NEC LLC relating to the proposed Rosamond Town Center Development. (CDC) SUMMARY: This item is to consider approval of an Economic Development Incentive Agreement between the City of Anna, the Anna Community Development Corporation (CDC), and BVE Anna NEC SPE LLC for the development of a major retail project (anticipated to be a Target or similar anchor retailer) on approximately 25.67 acres located near the northeast corner of US 75 and Rosamond Parkway. The agreement provides performance-based incentives to support construction of: Stage 1: A minimum 140,000-square-foot anchor retail store Stage 2: An additional 90,000 square feet of retail space Incentives include: -Annual Sales Tax Grants -Performance Bonus -Impact Fee Credits: Key Performance Requirements: -Certificate of Occupancy for the anchor store by April 30, 2028 (with a potential 12-month extension) -Completion of additional retail space by September 30, 2029 (with extension option) -Continued operation as a qualifying anchor retail store during the incentive term Protective Provisions: -Incentives are performance-based and tied to actual sales tax generation -Reductions or termination of incentives if construction deadlines are not met -Repayment provisions if tax revenues are later disallowed or reallocated by the State -Security required for impact fee credits City Council approved this incentive agreement at their May 26, 2026 City Council Meeting. FINANCIAL IMPACT: Details of the financial impact are as follows: Annual Sales Tax Grants (up to 5 years): -50% of the City’s sales tax and 25% of the CDC’s sales tax generated by the store -Capped at $3,592,851 total Performance Bonus: -One-time payment of $500,000 if annual sales exceed $90 million in the final year Impact Fee Credits: -Up to $2,807,149 for water, wastewater, and roadway impact fees STAFF RECOMMENDATION: Staff recommends approval of the Economic Development Incentive Agreement and execution by the President or Vice-President of the Board of Director's subject to approval as to legal form by the Corporation's legal council. ATTACHMENTS: 1. 2026-06-9 CDC Resolution - Target Incentive Agreement 2. Council Resolution - CDC Resolution Incentive for Rosamond Town Center (Signed) 3. Exhibit A - Agreement