SAN BENITO — A Brownsville-based development company is apparently coming to town.
Last night, city commis-sioners approved a performance agreement between the city’s Economic Development Corporation and a business prospect known as VARCO.
After a brief closed-session meeting, commissioners also approved a lease agreement between the EDC and VARCO.
According to the meeting’s agenda, commissioners were also expected to “consider potential financial incentives.”
After the meeting, City Manager Manuel De La Rosa said the city was submitting documents to the U.S. Economic Development Administration for its approval.
De La Rosa described VARCO as “commercial developers” who own an EDC property planned for commercial development.
“They will be developing a property owned by the EDC,” he said.
However, he declined to disclose the property’s address.
“There will be job creation and sales tax generation,” De La Rosa said.
De La Rosa said the city has been in negotiations with VARCO for about 18 months.
“They do development throughout the Rio Grande Valley,” he said.
De La Rosa declined to disclose other information that could jeopardize negotiations.
