City Council Approves Economic Incentive Grant
to Help Two Local Businesses Expand in Downtown
Based on the Community and Economic Development Committee’s review and proposal, City Council approved a $15,000 economic incentive grant to Friendswood Family Chiropractic Clinic for development of their new 10,250 square foot, one-story building that will be located downtown at 1111 S. Friendswood Drive at the corner of Whispering Pines. The grant will reimburse Friendswood Family Chiropractic Clinic for costs related to the construction and development of the project including providing downtown streetscaping improvements.
The new office building will be constructed on a 1.1945 acre tract of land in the City’s downtown Neighborhood Empowerment Zone (NEZ#1), which was created by City Council in 2008 to encourage development, redevelopment, and employment in the downtown area. By locating in NEZ#1, approximately $14,657 of City-related development fees, water and wastewater impact fees for the project will be waived. The developer will provide downtown pedestrian improvements that include landscaping, paved sidewalks, street lighting, and benches. Upon completion of the new $1.3 million building, two local businesses will expand in the city. Friendswood Family Chiropractic Clinic will occupy 1,800 square feet of the building, Spuhler Medical Associates will occupy 4,550 square feet, and the remaining 3,900 square feet will be available space for lease.
The project will provide a positive economic impact to the city, including increasing property tax revenues of approximately $81,914 over a 10-year period. In addition, fifteen jobs will be created or retained. Owners, Hassan and Monireh Moghaddam, said “we chose downtown Friendswood based on the flexible downtown district regulations set for the area. In addition, we believe that in the near future, as Friendswood’s downtown develops, it will be one of the most attractive family-oriented areas south west of Houston.”
MayorDavid Smith said “We are excited to see more resident business owners taking advantage of the opportunities offered in downtown Friendswood. In addition to the City’s fee waivers, downtown offers flexible mixed-use zoning and provides the ability to purchase off site detention for most sites. ”
The City offers continuous assistance to business owners to help them expand or relocate their businesses to the city through a variety of economic development incentives, such as property tax abatement, municipal grant incentives and tax increment financing. For more information on economic development opportunities in Friendswood, call 281-996-3250 or visit www.friendswood.com.