WACO, TX — The Waco City Council voted to approve $5.3M in sales and property tax incentives for a new family entertainment center on Tuesday evening.
The development is set to be constructed on approximately 142 acres located on the frontage road of Interstate 35 South, between New Road and Loop 340.
The vote was unanimous and Economic Development Executive Director Melett Harrison says that with this approval, contracts for developments will soon be executed.
"I think new economic development investment by the private sector is good anytime in the community. This will bring new tax base to the community both in the form of property tax and sales tax production and we will also rebate a portion of what they generate as their incentives," said Harrison.
There will be commercial, retail, restaurants and entertainment specific tenants. They anticipate the groundbreaking to be before the end of the year.