TEXARKANA, Texas - During a meeting Monday, the City Council approved rezoning requests and site plans for several new land developments.
With Ward 2 Member Mary Hart absent, the Council voted unanimously to allow development of a tunnel car wash and convenience store on vacant land northwest of the intersection of Richmond Road and Moores Lane. A different developer is attached to each of the projects.
Richard Reynolds with Reynolds Realty said that in conjunction with building the convenience store developers would be willing to provide up to $175,000 to widen a portion of Moores Lane to facilitate traffic entering and exiting the business.
The site plan calls for a traffic survey of the immediate area to determine needed street improvements.
The Council also approved a site plan for a self-service fueling station on Chelf Road between Pansy and Collom streets.
David Williams of MTG Engineers and Surveyors, who drew up plans for the site, said the station would be mostly unattended, though an employee would inspect the site daily and it would be remotely monitored with cameras. Drivers of company and government fleet vehicles, as well as individual consumers, will be able to refuel at the station.
The station will feature above-ground fuel tanks protected by fences. Williams said an advantage of keeping the tanks above ground is that any leaks can be detected right away.
The Council also approved site plans for adding a drive-through window to McAlister's Deli at 5001 Cowhorn Creek Road and for a building addition at 4824 McKnight Road.
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TNB Briefing
The Council also head a first briefing on a proposed loan of $500,000 from the city's Environmental Protection Agency Revolving Loan Fund to Texarkana Renewal Properties for redevelopment of the former Texarkana National Bank building downtown.
Developer David Peavy recapped what work has been done so far at the building, including removing stone facades from its first floor exterior, and said crews will soon begin removing the metal facade from the upper floors, revealing the original red brick beneath. Plans are for the building to be converted into more than 60 apartments.
"This building is iconic to Texarkana," and the company plans to make it so again, Peavy said.
The loan would finance abatement of toxic materials such as asbestos inside the building. It would follow similar EPA loans and grants totaling $510,000 used for exterior abatement and rehab at the building and its parking garage a block away.
The loan would have a 12-year term, with no interest in the first year, interest only due in the second and third years, and principle and interest due in years four through 12. The interest rate would be set at the 10-year treasury rate plus 1%.
Calling the loan "high risk," city staff recommend providing the funds with safeguards in place.
The developers must follow all city building codes and EPA terms and conditions.
The city would withhold 10% of each payment requested "as a retainage," and the developers "will secure a $20,000 contingency fund in the event a shortfall exist or will be returned to the borrower if all cost are covered," according to briefing documents
The developers must also collaterally assign rents and leases at the properties, execute a personal guarantee for the loan and a guarantee of completion, and "provide additional letters of financial commitment and an updated proforma after abatement is complete and prior to redevelopment beginning."
A public hearing and vote on the proposed loan will take place during the Council's next meeting, scheduled for Nov. 23.
Other Business
The Council also unanimously approved establishing a 25 mph speed limit for segments of Galleria Oaks Drive, Christus Drive and Sam Warren Drive in the vicinity of Pleasant Grove Elementary School on school days.
By consent, the Council also approved a resolution recognizing the Texarkana Arts and Historic District Committee as the official advisory body for the downtown Texarkana Cultural District and allowing the city manager to appoint a staff representative to the committee.
The resolution authorizes the committee to make strategic marketing decisions for the downtown cultural district and function as a "creative clearinghouse" for the district.