By Lauren Cabral
Killeen Daily Herald
COPPERAS COVE - The Copperas Cove Economic Development Corporation board of directors discussed developments in the Shops at Five Hills project at its Thursday meeting, and action to approve a sale and purchase agreement for the project property is expected soon.
The agreement would be between C-Cove 90 Partners LTD, made up of First Advisors Inc., and Endeavor Real Estate, both in Austin, and the CCEDC board of directors and the Copperas Cove Industrial Foundation. It would allow C-Cove to sell the land to businesses interested in becoming a part of the Shops at Five hills.
No action was taken on the agreement, but the item will be up for action Tuesday at a special meeting of the CCEDC board.
CCEDC Executive Director Polo Enriquez that said if the agreement is approved, businesses would be able to purchase the property immediately and begin development.
CCEDC Board Chairman Dan Yancey said the goal was to have the shops open at the same time the Southeast Bypass opens. Construction on the bypass, a 30-month project, is expected to begin in September, putting its completion date at early 2014.
"The bypass is a key component of this," Yancey said.
Jimmy Clark, board vice chairman, noted the market would determine how quickly the project would get started.
Fred Chavez, board treasurer, called the project a "case study in pure economic development," and noted it had come a long way since it was first proposed six years ago.
"We're at the right place at the right time and all the tumblers have fallen into place," he said. "We're at the 5-yard line and we're going to push it as far as we can."
Enriquez thanked the board of directors for moving the project along so quickly.
"Moving a project along in that amount of time is phenomenal," he said. "The citizens of this community should be grateful they have people like you working on this project."
He also said the shops are an investment for the city's future, and Copperas Cove would be "the envy of Central Texas when the shopping center opens."
Additional praise was given to the Copperas Cove Chamber of Commerce, the city of Copperas Cove and the Department of Public Works by Monica Hull, CCEDC marketing director. She added Fort Hood was a huge component in making the project a reality.
"They've been good neighbors and real supporters of our community," she said.
Other action taken at the meeting included approving a $5,000 sponsorship for select board members to attend the Team Texas Site Consultant's Forum in Austin in April. The event will allow the members to meet with more than 20 leading site-selection consultants from medical, industrial, manufacturing and retail companies.
A payment of $121,699.28 to Dixon Paving for the extension of Constitution Drive also was approved.
Contact Lauren Cabral at firstname.lastname@example.org or (254) 501-7476.