Multiple projects are keeping the Economic Development Corporation busy according to updates from the executive director and director of business development.
The EDC’s involvement with the Five Hills shopping center is nearing completion as the installation of water and sewer mains draws to a close.
“I spoke with Otto (Wiederhold) yesterday, and he said we are 98 percent complete on the project,” said Polo Enriquez, executive director, at an Aug. 23 meeting.
Once the mains are installed and pass all inspections, the EDC’s contracted contribution to the Five Hills development will be satisfied, and the rest of the construction will be in the hands of Endeavor Real Estate.
Regarding the 26 acre “horseshoe development,” where a business park is in the works, the city has asked the EDC to add a reverter clause to the agreement to sell the land to the Copperas Cove Industrial Foundation.
“We created that clause,” said Enriquez this week. “We were going around again to put signatures to that addendum. Once that is done, it should be coming back to me (Thursday) or Friday as fully executed ... The paperwork that leads to the sale of the property from the EDC to the Industrial Foundation is almost done.”
The board also discussed what to name streets in the future Narrows Business and Technology Park, about 72 acres of land south of Old Copperas Cove Road.
Members agreed the long street would go through the property from the Shops development could share the same name, currently planned to honor Robert Griffin III. A smaller street within the Narrows development was suggested to be named after Charles Tillman, quarterback for the Chicago Bears and Copperas Cove native.
Director of business development Monica Hull also shared a project report with the board, revealing that 78 projects had come through the EDC’s doors since October 2011 with two — Starbucks and the T-Mobile store — completed and seven “active,” meaning a decision has been made and pieces are being put together to bring the project to life.
Reasons for projects no longer being pursued included a lack of space, infrastructure, geography and transportation issues.
Enriquez said companies that are in pending or preliminary statuses may be looking at available spaces, such as in the Town Square shopping center, but the EDC is not involved with the advertising of developing properties, such as Five Hills, because they have their own marketing teams.