Galveston’s Hot Real Estate Market

Sue Darcy — Thu, 09 Dec 2004 17:00:00 GMT

Knudson & Associates is particularly proud of its record of maintaining long-term relationships and we're delighted to showcase our overwhelmingly productive relationship with the Galveston Economic Development Corporation (GEDP) in this the first of Client Highlights . The GEDP was organized in 1999 with a charge to expand and diversify the Galveston economy and tax base. To date, Knudson & Associates has assisted the GEDP in the formation of two tax increment financing zones and one neighborhood empowerment zone that will provide for more than $80 million in public improvements that will in turn foster commercial growth projected to be roughly $800 million. As the GEDP continues fulfilling its mission, Knudson & Associates will be there to assist in providing sound yet creative approaches to the challenges of economic development. If you would like to know more, please call Sue Darcy at 713-463-8200, ext. 19.

Client Testimonial:

“Smarter than the average consultant…
Sue Darcy and the staff at Knudson & Associates have become a part of the close-knit business community in Galveston, Texas . Our organization, the Galveston Economic Development Partnership, and the city leaders have appreciated the guidance and support Knudson & Associates has shown during a time of unparalleled new economic growth in our community. They have worked on various projects in Galveston including:

Galveston's first Neighborhood Empowerment Zone: With Knudson & Associates' assistance, NEZ #1 was designated as a tract of land on Pelican Island for the retention, expansion and diversification of both Tesoro Petroleum and M-I Drilling Fluids. The project entailed a combined $20 million of new capital improvements and inventory. It allowed for the City of Galveston to specifically allocate projected tax value increases and sales tax collections to identified infrastructure and community development projects.
Tax Increment Reinvestment Zone (TIRZ) #12: Knudson & Associates led the City and County through the process of developing a zone that includes the site of a revitalized retail area, the future County Criminal Justice Center , and numerous other business development projects.
Tax Increment Reinvestment Zone (TIRZ) #14: This zone was created around the City's airport property to capitalize on opportunities for the Airport Master Plan improvements, development of Schlitterbahn Water Park , expansions to Moody Gardens , and redevelopment of vacant and underutilized properties.
Public Policy for Economic Development Incentives: Knudson & Associates helped create this policy which formalizes the incentive process through the City of Galveston . It allows for appropriate due diligence to be performed outside of the political spectrum prior to recommendations for approval.

These projects represent only a portion of the work Knudson & Associates has put into Galveston with its development and planning needs. Their success is due to the fact that they go beyond “just getting the job done” and strive to serve the needs of the community as a whole. I would recommend that other cities and organizations utilize Knudson & Associates for their economic development and land planning projects.”
- Jeff Sjostrom
President
Galveston Economic Development Partnership

For more information on the Galveston Economic Development Partnership and how to do business in Galveston , please go to http://www.gedp.org/.

9-Dec-04 11:00 AM

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Galveston’s Hot Real Estate Market