The retail, office and residential complex, which is estimated to cost between $8 million and $9 million, would be built on 2.3 acres west of the United Supermarket at 201 N. 23rd St.
Canyon EDC can use some of the proceeds it receives from a half-cent sales tax charged in the city for retail development because it was organized as a Type B economic development corporation under state law.
The incentives would begin a year after The Depot is completed and would be paid in $50,000 annual installments as long as Furman Family Partnership maintains a minimum of 7,600 sf of leasable retail space in the complex.
Our twice-weekly e-newsletter provides a quick overview of Texas real estate markets. Because your time is valuable.