This development agreement provides an incentive to IntownHomes, Ltd., to redevelop the Old First Baptist Church property at the southeast corner of M Avenue and 15th Street in Downtown Plano. The First Baptist Church will soon be relocating to a new facility along PGBT near Coit. The development plan, as approved by Council on October 14, 2019, calls for a mixed use development multi-family, office, retail, and townhomes.
IntownHomes has successfully worked in Downtown Plano over the last several years. Their projects include the nearly completed Rice Field and the soon to start 15th Street Townhome project. Their current request is for aid in undergrounding utilities, planting street trees, providing street lighting, new sidewalks and street, sanitary sewer mains, and new water lines. Other than the utilities, all of the new construction will be owned by the City.
TIRZ#2 Board of Directors met on July 23, 2020 and unanimously recommended that the Council approve the entire incentive request of $971,500.