OTHERAMENDED

City of New Fairview City Council Regular Meeting Agenda May 4 2026

Amended Chapter 380 Agreement with Sunrise LLC Detailed

$579,071.28 total public infrastructure improvements; 50/50 sales tax sharing for three years (reimbursed $357,121.60)City of New Fairview citySUNRISE LLCMay 3, 2026

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Description

New Fairview previously entered a Chapter 380 Economic Development Agreement with Sunrise, LLC for construction of the first 815 feet of Graham Road, with the City sharing sales tax 50/50 over a three-year reimbursement period. A 2022 amendment reset the reimbursement window, and Sunrise LLC was ultimately reimbursed $357,121.60 on approved infrastructure costs of $579,071.28.

Contract Details

Contract Amount

$579,071.28 total public infrastructure improvements; 50/50 sales tax sharing for three years (reimbursed $357,121.60)

Vendor

SUNRISE LLC

Agency

City of New Fairview city, TX

Contract Type

OTHER

Document Date

May 3, 2026

Contract Term

Three (3) year reimbursement window starting after June 6, 2022 amendment

Renewal Info

Agreement amended June 6, 2022 to reset the start of the three-year reimbursement period for sales tax cost recovery; reimbursement window has concluded as of memo date.