The Bastrop Economic Development Corporation Board of Directors hereby establishes this Policy in order to inform businesses interested in property in the new Bastrop Business and Industrial Park regarding how parcels will be sold. This Policy is to be used concurrently with the Policy on Tax Abatement previously adopted by the Bastrop City Council for property located in the City-County Enterprise Zone.

In order to stay competitive with other communities in the Austin Metropolitan Area, the Board of Directors of the Bastrop Economic Development Council establishes the following:

1. Parcels available in Phase 1 of the Bastrop Business and Industrial Park shall be disposed of as follows:

A. Purchase price for all parcels will be directly related to the number of jobs and quality of jobs created and investment committed to by each interested business according to the following schedule. Special consideration is given to jobs that pay above the current Metropolitan Statistical Area (MSA) average wage

The Board may consider adjustments to these prices on a case-by-case basis, as the board deems appropriate, depending on the economic impact or other factors pertinent to the community. Actual costs may vary based on closing costs and other factors.

B. *Real Estate (Realtors) Fees - The BEDC will negotiate all customary real estate sales commissions (usually 6%) based on the full $32,670/acre amount even if the parcel is offered to the client by BEDC at a lesser amount.

Adopted this 22nd Day of September, 1997
Revised this 20th Day of September, 1999
Revised this 27th Day of January, 2003
Revised this 21st Day of August, 2006

Tom Scott, Chairman of the Board
Tommy Hoover, Secretary