Aubrey's sales-tax-funded economic development arm is set to buy property in the downtown area, with a vote scheduled for Wednesday, Nov. 18.
The Aubrey Municipal Development District board will consider a resolution authorizing a $380,000 purchase, paid from money the district already has on hand. Adding closing costs and a survey, the total would be capped at $390,000, according to the staff report in the meeting packet.
The report says the district signed a one-to-four family residential contract for the property on Nov. 4 and that the purchase is meant to promote new and expanded businesses in the city, a use allowed under the state law that governs development corporations. It does not identify the property.
The board's closed-session list for the meeting includes "Main Street Properties" and 916 U.S. Highway 377, the same two items it discussed privately on Oct. 13. Minutes from that meeting show the board voted 5-0 afterward to have Executive Director Christine Gossett bring back purchase agreements on the properties it had talked about.
The district has also been planning a new building at 205-209 S. Main St. to house its offices, the chamber of commerce and a museum. An architect presented a concept in October with event and meeting space, shared workspace and room for a shop or restaurant, and the board took no action then.
Restaurant incentives
The same agenda includes two requests from the owner of a restaurant planned at 500 Pine Ridge, which the packet says is expected to open Feb. 1, 2027:
