Briefing
City Council holds first reading on EDC settlement agreement for Velasco town site; no vote taken
At a special meeting on April 15, 2026, Freeport City Council held a first reading of Resolution No. 2026-3042—an Economic Development Corporation (EDC) settlement agreement addressing property reversion, foreclosure disputes, and obligations for infrastructure and residential development in the Velasco town site. No action was taken; a second reading and vote were scheduled for Monday. Council discussion focused on cost allocation, developer responsibilities, title/reverter issues, and adequacy of due diligence.
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