Nearly $1 million incentive agreement approved between Plano City Council and InTown Homes

PLANO, TX – In Town Homes entered into a nearly $1 million incentive agreement with the city of Plano on Feb. 22 for 1897 Addition, a mixed-use redevelopment project located at the old First Baptist Church property in downtown.

The funding will be put toward public improvement items and costs, including the addition of wider sidewalks, planting street trees and moving above-ground utilities underground. The developer will pay for these improvements and then receive a reimbursement in the amount of $971,500 upon completion. The agreement has an expiration date of 2029.

InTown Homes was previously denied the agreement at a Dec. 14 City Council meeting. The developer appealed to council members in early February and was given a chance at reconsideration Feb. 22.

At the Feb. 8 meeting, InTown Homes representatives said they felt not enough discussion took place prior to the vote on the original agreement. Council members also shared that there was confusion over whether the development’s request was linked to an item on the same agenda that focused on the city’s purchase of a portion of the First Baptist Church property for a park. The purchase was denied, and shortly thereafter, so was the now-approved incentive agreement.