MISSOURI CITY – The city council has voted to execute a Chapter 380 agreement with NewQuest to pay for the new 250,000-sf Fort Bend Town Center II at the corner of SH 6 and the Fort Bend Pkwy. Toll Rd.
The agreement authorizes municipalities to offer loans and grants of city funds to promote economic development.
As it develops, NewQuest would receive some sales tax back. The city’s economic development incentive package also includes up to $6.25 million in taxes back to the company.
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