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Council approves $90,000 TIRZ #2 grant for the Route 66 Bug Ranch, 4-0
The council voted 4-0, with Councilmember Tom Scherlen abstaining, to approve a TIRZ #2 developer agreement with Big Texan Steak Ranch/Galaxy Catering, Inc.: a grant of up to $90,000 from the zone's tax increment fund for the parking lot, sidewalk and site work of the Route 66 Bug Ranch art installation, moved from near Conway to Sunrise Drive and I-40, payable after the project is complete. The TIRZ #2 board had approved it 7-0 on May 16, 2024. The staff memo put the project cost at $219,790, with $129,790 from the owner.[1][2][3]
Cole StanleyJosh CraftDon TippsLes SimpsonTom ScherlenBig Texan Steak Ranch (Galaxy Catering, Inc.)
What the sources say
- ✓ Verified
On May 28, 2024 the council approved the East Gateway TIRZ #2 developer agreement with Big Texan Steak Ranch/Galaxy Catering, Inc. 4-0 on a motion by Les Simpson, seconded by Josh Craft: yes, Cole Stanley, Josh Craft, Don Tipps and Les Simpson; abstaining, Tom Scherlen. The minutes give no reason for the abstention. [1]
- ✓ Verified
The agreement provides "PAYMENT OF FUNDS UP TO $90,000 FROM THE TAX INCREMENT FUND" for a parking lot, sidewalk and general beautification at the Route 66 Bug Ranch art installation near Sunrise Drive and the I-40 access road. The staff memo put the project at $219,790, with $129,790 of owner equity, and said payment would follow full completion, from the TIRZ #2 FY2024 community projects budget. The item was also presented to Potter County commissioners on May 24, 2024, with no comments. [2]
- Grant cap
- $90,000
- Project cost
- $219,790
- Owner equity
- $129,790
- ✓ Verified
The TIRZ #2 board approved the $90,000 grant request from Galaxy Catering, Inc. 7-0 on May 16, 2024; the treasurer of the Bug Ranch Association spoke in favor. [3]
