Map

Killeen Business Park
National Map
Regional Map
Tax Increment Reinvestment Zone (TIRZ)

 

Killeen Business Park

Land:

  • The park has been subdivided. There is a metes & bounds description for each lot.

  • An asking price has been established for each available site.

  • All land sales must be approved by KEDC.

  • Land prices are negotiable depending upon the economic impact of the project.

  • Staff is responsible for managing the sales transaction. Procedures include, but are not limited to, hiring a survey company, hiring a lawyer, hiring an engineer and closing on the sale. If applicable, KEDC pays broker fees.

  • Staff is responsible for maintaining KEDC property. Maintenance includes, but is not limited to, hiring a landscaping company to ensure the grass is mowed a minimum of 25 feet from the curb, trash removal and safety.

Buildings:

  • KEDC currently owns two buildings in the Killeen Business Park. Addresses are: (703 Swanner Loop, 4501 Roy J. Smith Drive)

  • Staff serves as the liaison between the tenant and service contractors to ensure maintenance of KEDC’s buildings are in accordance with the lease agreement.

  • KEDC can offer build-to-suit facilities when proposing a site in the Killeen Business Park.

  • KEDC must approve all build-to-suit offers.

  • Staff is responsible for managing construction. Procedures include, but are not limited to, hiring an engineering company, hiring a lawyer, hiring a construction company, negotiating the lease and supervising construction.

Marketing and Advertising:

  • Staff is responsible for marketing and advertising the property in the Killeen Business Park.

Download a copy of the...
Restrictive Covenants - West Side of Park
Restrictive Covenants - East Side of Park


National Map


 

 

Regional Map​



 




Tax Increment Reinvestment Zone (TIRZ)​

Location Map

The Tax Increment Reinvestment Zone may finance the activities listed below per Tax Code Section 311.002. A project plan must be prepared and adopted by the TIRZ Board of Directors and then presented to the City Council for adoption by ordinance.
Although a TIRZ fund may be used for many different projects within the reinvestment zone; the TIRZ fund is a governmental fund. Water/sewer and drainage infrastructure projects will be best handled through a transfer from the TIRZ fund to the appropriate capital projects fund rather than budgeting and expending the funds directly from the TIRZ fund.
Tax Code Section 311.002
"Project costs" means the expenditures made or estimated to be made and monetary obligations incurred or estimated to be incurred by the municipality or county designating a reinvestment zone that are listed in the project plan as costs of public works, public improvements, programs, or other projects benefiting the zone, plus other costs incidental to those expenditures and obligations. "Project costs" include:

  1. capital costs, including the actual costs of the acquisition and construction of public works, public improvements, new buildings, structures, and fixtures; the actual costs of the acquisition, demolition, alteration, remodeling, repair, or reconstruction of existing buildings, structures, and fixtures; the actual costs of the remediation of conditions that contaminate public or private land or buildings; the actual costs of the preservation of the facade of a public or private building; the actual costs of the demolition of public or private buildings; and the actual costs of the acquisition of land and equipment and the clearing and grading of land;

  2. financing costs, including all interest paid to holders of evidences of indebtedness or other obligations issued to pay for project costs and any premium paid over the principal amount of the obligations because of the redemption of the obligations before maturity;

  3. real property assembly costs;

  4. professional service costs, including those incurred for architectural, planning, engineering, and legal advice and services;

  5. imputed administrative costs, including reasonable charges for the time spent by employees of the municipality or county in connection with the implementation of a project plan;

  6. relocation costs;

  7. organizational costs, including the costs of conducting environmental impact studies or other studies, the cost of publicizing the creation of the zone, and the cost of implementing the project plan for the zone;

  8. interest before and during construction and for one year after completion of construction, whether or not capitalized;

  9. the cost of operating the reinvestment zone and project facilities;

  10. the amount of any contributions made by the municipality or county from general revenue for the implementation of the project plan;

  11. the costs of school buildings, other educational buildings, other educational facilities, or other buildings owned by or on behalf of a school district, community college district, or other political subdivision of this state; and

  12. payments made at the discretion of the governing body of the municipality or county that the governing body finds necessary or convenient to the creation of the zone or to the implementation of the project plans for the zone.

History of Killeen Business Park:
The Killeen Industrial Foundation (KIF) conveyed available land in the Killeen Business Park to the Killeen Economic Development Corporation (KEDC) in December 2001.

  • The Lot and Block Numbers of the land conveyed are listed below:

    Lot 3 and Lot 9, Block 2 = 16.665 acres
    Lot 1 and Lot 2, Block 5 = 25.627 acres
    Lot 4, Block 5 = 2.531 acres ???
    Lot 1, Block 6 = 68.862
    Cabinet C, Slide 68-A & 68-B, Bell County Clerks Office
    Lot 8, Block 3 = 1.413 acres
    Lot 1 and Lot 2, Block 4 = 14.3871 acres
    Cabinet C, Slide 68-A & 68-B, Bell County Clerks Office

    Total Acres: 129.4851

  • On November 26, 2003, KEDC purchased an additional 62.872 acres of land at $10,000 per acre. The Lot and Block Numbers of the land purchased are listed below:

    Lot 9, Block 3 = 41.321 acres
    Lot 10, Block 3 = 9.880 acres
    Lot 4, Block 5 = 11.671 acres
    Cabinet C, Slide 68-A & 68-B, Bell County Clerks Office and Killeen Business Park Subdivision Phase II

  • Land:

    1. The park has been subdivided. There is a metes & bounds description for each lot.

    2. An asking price has been established for each available site.

    3. All land sales must be approved by KEDC.

    4. Land prices are negotiable depending upon the economic impact of the project.

    5. Staff may recommend a land price to the KEDC for their consideration.

    6. Staff is responsible for managing the sales transaction. Procedures include, but are not limited to, hiring a survey company, hiring a lawyer, hiring an engineer and closing on the sale. If applicable, KEDC pays all broker fees.

    7. Staff is responsible for maintaining KEDC property. Maintenance includes, but is not limited to, hiring a landscaping company to ensure the grass is mowed a minimum of 25 feet from the curb, trash removal and safety.

  • Buildings:

    1. KEDC currently owns two buildings in the Killeen Business Park. Addresses are: (703 Swanner Loop, 4501 Roy J. Smith Drive)

    2. Staff serves as the liaison between the tenant and service contractors to ensure maintenance of KEDC’s buildings are in accordance with the lease agreement.

    3. Staff must obtain approval by KEDC for expenses greater than $1,000 and/or for non-budgeted items.

    4. KEDC can offer build-to-suit facilities when proposing a site in the Killeen Business Park.

    5. KEDC must approve all build-to-suit offers.

    6. Staff is responsible for managing construction. Procedures include, but are not limited to, hiring an engineering company, hiring a lawyer, hiring a construction company, negotiating the lease and supervising construction.

  • Marketing and Advertising:

    1. Staff is responsible for marketing and advertising the property in the Killeen Business Park.

Download a copy of the...
Restrictive Covenants - West Side of Park
Restrictive Covenants - East Side of Park