The City Council’s top priority is redevelopment and preservation of the Imperial Historic District, particularly the iconic Char House. The former Imperial Sugar site was the start of what would become Sugar Land as it once played a vital role in the city’s economy. Imperial Sugar created jobs and then homes, and as it grew, this economic engine was the cornerstone of our community – a “company town” – for generations. Today, Sugar Land is still a “company town,” serving as a major employment hub in the Houston region with more than 70,000 jobs. While the factory is no longer operational, the resolve to preserve and honor the City’s history is stronger than ever. It is for this reason that preserving the Char House and redeveloping the Imperial Historic District and its adjacent properties is one of the City Council’s top priorities.
Over the past 20 years there have been multiple unsuccessful attempts by private parties, sometimes in partnership with the City of Sugar Land, to redevelop and preserve the Imperial Historic District. We know this has been frustrating for the community, so the city is pursuing a new approach to this high priority project. The city will be working to acquire the properties, prioritize preservation of the Char House and in the future identify the best path and partner to bring the city’s vision for the development to reality. To move forward with project implementation, the city has identified funding needs for land acquisition, Char House preservation and other related capital expenses.
The City has a long history of using a variety of financing tools to maximize our ability to be opportunistic when it comes to delivering high-priority economic development projects within the community, including using COs repaid by other funding sources to maximize the use of public dollars and reducing the overall borrowing costs. Repayment of this CO issuance will be supported by a combination of restricted economic development funds and hotel occupancy tax.
These funds will be used for restoration of historic structures within the Imperial Historic District, the acquisition of approximately 45 acres, as well as the construction, acquisition and/or improvements to the City’s utility system, streets, and related drainage. Funds will also cover professional services associated with these projects.
|
Description
|
Amount
|
|
Land Acquisition
|
35,000,000.00
|
|
Char House Preservation
|
5,000,000.00
|
|
One-time Capital Expenses
|
6,022,000.00
|
|
Contingency
|
3,978,000.00
|
|
TOTAL
|
50,000,000.00
|
Notice Requirements
The issuance of CO's must follow a series of resolutions and public notices under Texas law. State law requires adoption of a resolution authorizing publication of a notice stating the City’s intent to issue certificates of obligation. The notice must be published once a week, for two consecutive weeks, in a newspaper of general circulation in the city. The date of the first publication must be before forty-five (45) days before the date tentatively set in said notice for the passage of the ordinance authorizing the issuance of such Certificates of Obligation. Further, the Notice shall be continuously posted on the City’s Internet website, for at least forty-five (45) days before the date tentatively set for the passage of the order or ordinance authorizing the issuance of the certificates.
Next Steps
The notice will be published in the Feb 19th and 26th newspapers, with the planned sale date of April 15, 2025. The sale will need to be approved by ordinance at the City Council meeting on April 15, 2025. The sale will then be completed with delivery of funds in May 2025.