Stafford Council, EDC to discuss The Grid agreement on Wednesday

During a special joint meeting of the Stafford City Council and the Stafford Economic Development Corporation on Wednesday, May 17, the bodies will discuss and act upon an amendment to an agreement between the EDC and Stafford 59 & Airport LP. over The Grid, the large retail complex.

According to the agenda materials, the April 2023 agreement provided for the city to "fund the relocation of electrical duct banks, improvements to address traffic along Kirkwood, utility relocations and 3 license plate readers, in an amount not to exceed $1,300,000.00."

The payments are continent to the issuance of a certificate of occupancy for a planned Target store at the complex by Dec. 31, 2025. If the Target does not received the certificate by that time, the city's payments to be reduced $260,000 for each year or part of a year that the Target store is not open during the calendar years 2026 through 2028.

The joint meeting will begin at 5:30 p.m. at the Council Chambers at Stafford City Hall, 2610 South Main Street. The meeting will also be livestreamed on the city's website, staffordtx.gov, where the agenda can also be found.