Clear Lake council to consider Starboard Square development agreement tonight
CLEAR LAKE — The Clear Lake City Council tonight will hold a public hearing on the proposed development agreement for a section of the Courtway Park subdivision.
The council at their March 15th meeting approved a letter of intent with Momberg Land LLC for the Starboard Square project on lot three of the subdivision, just south of the new Marriott hotel.
The agreement would provide property tax incentives to the developer that would be paid out over seven years at a total not to exceed $225,000. The commitment to make those payments will not be from general revenue but would be paid solely from incremental property tax revenues generated within the Clear Lake Consolidated Urban Renewal Area.
The city would also agree to add water and sanitary sewer service into the project footprint or to reimburse the developer for the cost of such construction in an amount not to exceed $50,000. The city also would reimburse Momberg Land for engineering, legal and other related expenses for an amount not to exceed $15,000.
The project received site plan approval from the city’s Planning & Zoning Commission at their March 30th meeting.
The council meets at 6 o’clock tonight at City Hall.