City of Bryan to purchase old Nutrabolt office and create Innovation center.

8,570 Views | 68 Replies | Last: 3 yr ago by Slocum on a mobile
Sub4
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AG
Saw this on KBTX,

https://www.kbtx.com/2020/11/25/city-of-bryan-creating-lake-walk-innovation-center/

Is anyone familiar with this acquisition and idea has any thoughts on it?

Texas A&M already has a robust system like this already in place. Is it necessary? I can't think it will be worth the considerable costs to purchase the building and run this program over other places this money could have been spent on other areas of development.
doubledog
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This is great, next they can innovate some road repairs.
techno-ag
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AG
Bryan is great about attracting businesses. If they grow their own, all the better. Win-win.
BQ_90
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AG
Covid basically showing,you don't need office space.

Bryan spending 2 million to create more office space
EBrazosAg
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AG
What was Nutrabolt asking for the property? What's it on the appraisal district for ? It's a pretty sweet facility.
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bcstx06
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Houston is doing something similar in their Midtown District, starting off by renovating the old SEARS building that was located there.

https://abc13.com/sears-building-midtown-houston-transforms-into-ion-hub-innovation-district-rice-management-company-what-are-they-in-the-old/8121848/
bcstx06
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techno-ag said:

Bryan is great about attracting businesses. If they grow their own, all the better. Win-win.

Just not great at attracting retail and restaurants.
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rocketscience
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Slocum on a mobile said:

We don't have enough incubators and flexible office spaces?
Why not lower the tax rate instead of taking on more debt?
It's not being paid for with debt. It's being paid for with existing funds from Bryan's commerce and development agency which I'm sure can only be used for economic development purposes.

https://wtaw.com/bryan-city-council-approves-purchase-of-former-nutrabolt-headquarters-building-and-land-for-economic-development-purposes/
Rexter
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rocketscience said:

Slocum on a mobile said:

We don't have enough incubators and flexible office spaces?
Why not lower the tax rate instead of taking on more debt?
It's not being paid for with debt. It's being paid for with existing funds from Bryan's commerce and development agency which I'm sure can only be used for economic development purposes.

https://wtaw.com/bryan-city-council-approves-purchase-of-former-nutrabolt-headquarters-building-and-land-for-economic-development-purposes/



Therein lies the problem.....cut fees/taxes, or whatever, so these things aren't duplicated or properties bought "because we need to spend this money".
PS3D
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bcstx06 said:

techno-ag said:

Bryan is great about attracting businesses. If they grow their own, all the better. Win-win.

Just not great at attracting retail and restaurants.
If Bryan attracts high-end business tenants (ones that actually work outside of the TAMU orbit and are not just call centers) then nicer retail and restaurants will come. Even if people actually end up settling in College Station, good restaurants and retail benefit everyone, and keep money from disappearing in Houston.
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Cancelled
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AG
You may be right, but think just the opposite. Corporate America and workers thought they liked it, but they're learning it's not so great. A lot of workers are realizing that work from home is not the panacea they imagined: it's mundane and provides no separation in the work-life balance. Corporations are freaking out because despite keeping some semblance of productivity, it goes against corporate culture to work less and produce more.

I have friends that liked it initially, but corporate will always make moves to benefit itself. I know people that are forced to remain in their house all day. They are not permitted to leave their workstation. If the computer goes idle, they receive a text. Too many texts and they get reprimanded.

I think it was a necessary evil during the lockdowns to keep the economy afloat, but I would imagine people will start moving back soon. What a terrible thing IMHO we have done allowing bosses into the home.
BQ_90
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It won't be up to the workers. If productivity is the same and companies don't have to pay for unused space, they save that money.

Again it was already posted, it's not the job of govt to be landlords. This place already has enough office space without either city getting into the office space business
techno-ag
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AG
BQ_90 said:

It won't be up to the workers. If productivity is the same and companies don't have to pay for unused space, they save that money.

Again it was already posted, it's not the job of govt to be landlords. This place already has enough office space without either city getting into the office space business
It's the Commerce and Development agency. As pointed out above this is not an unusual step for a city and the property remains on the tax rolls. Bryan continues to improve itself despite nonstop kvetching from the peanut gallery.
halibut sinclair
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isitjustme
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Slocum on a mobile said:

techno-ag said:

BQ_90 said:

It won't be up to the workers. If productivity is the same and companies don't have to pay for unused space, they save that money.

Again it was already posted, it's not the job of govt to be landlords. This place already has enough office space without either city getting into the office space business
It's the Commerce and Development agency. As pointed out above this is not an unusual step for a city and the property remains on the tax rolls. Bryan continues to improve itself despite nonstop kvetching from the peanut gallery.


Yeah, maybe Wayfair needs a $40k a year IT guy...
What's wrong with $40K/year? It may not be enough as a sole income for a family of 4 living in a $250,000 house with 2 car notes. But it's plenty for an early career person who is unmarried, or married with no kids, or married with kids and the spouse makes a similar amount or more. Then the person gets experience and goes on to make more money.

Just like any other minimum wage/lower salary jobs - they're not designed to support an established household. And if that's all a person has, maybe they need to think hard about whether they should expand their household and load up with on-credit purchases.
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Brian Alg
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rocketscience said:

Slocum on a mobile said:

We don't have enough incubators and flexible office spaces?
Why not lower the tax rate instead of taking on more debt?
It's not being paid for with debt. It's being paid for with existing funds from Bryan's commerce and development agency which I'm sure can only be used for economic development purposes.

https://wtaw.com/bryan-city-council-approves-purchase-of-former-nutrabolt-headquarters-building-and-land-for-economic-development-purposes/
Bryan's budget shows a line under the Bryan Commerce and Development (BCD) Fund Summary page (140 here MASSIVE PDF WARNING) that says "Transfer to General Fund." It also isn't listed as one of the Special Revenue Funds "that are legally restricted for specified purposes." (p. 141)

I suspect that means there isn't an actual limitation on what those funds can be spent on.


Brian Alg

Brazos Coalition for Responsible Government
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Brian Alg
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I was curious so I looked into it. WTAW had a link to the city's summary of the deal.

https://wtaw.com/bryan-city-council-approves-purchase-of-former-nutrabolt-headquarters-building-and-land-for-economic-development-purposes/

Seemed weird that it would stay on the tax rolls if the city was buying it.

If you look at the agreement it looks like the city of Bryan didn't buy it. I would have to see exhibit A (does anyone know where that is? I don't really care enough to do a records request), but it looks like this was a giveaway to Bryan Traditions, LP so they could purchase the property and do whatever it is they will do with it. I don't know how much was given upfront. Also don't know what the operating costs the city is on the hook for, maybe nothing. Also don't know what Bryan Traditions, LP is required to do.

But the upshot is that it is on the tax rolls because Bryan didn't buy the property, they helped a private company buy it. The level of how upset people should be really depends on the details that are in that Exhibit A. From the reporting almost looks like the city gave away ~2.5 million dollars with strings attached. But I really hope that is a miscommunication from the city or the reporters or a misread on my part.

"WHEREAS, in consideration of the development of the Project, the City desires to enter into this
Agreement pursuant to Chapter 380 of the Texas Local Government Code, and other applicable law, as an economic incentive for Bryan Traditions, LP ("Developer") to purchase the Property and develop the Project;"
Brian Alg

Brazos Coalition for Responsible Government
Brian Alg
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I don't know all the ins and outs of local government. But it seems strange to me that something like this was put on the consent agenda.

This is too interesting. I went ahead and asked the city secretary for that Exhibit A.
Brian Alg

Brazos Coalition for Responsible Government
EcoZapp.AC&Air.Purifiers
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- Anyone else see the disconnect between placing this facility here & spending X amount of money on it, while Small Business owners in Bryan,Texas whip out their calculators and ask questions?




- it's November of 2020, and the city is going to be bragging about a showpiece next to Traditions that is great for the TV camera, however there are X amount of businesses in B/CS and 99.9% of them likely won't benefit off this building at all.


( Tax money + Resources being used during 2020, 2021, 2022 will be interesting)


- $2.2m on renovations still leaves how many X millions per year & overall?


I bet this ends up a $10m+ hole over the lifetime, Lots of wishes in buildings like this.. While there are a lot of Actual Businesses in a ~10 mile radius going thru 2020..


PS3D
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agrab86 said:

Slocum on a mobile said:

techno-ag said:

BQ_90 said:

It won't be up to the workers. If productivity is the same and companies don't have to pay for unused space, they save that money.

Again it was already posted, it's not the job of govt to be landlords. This place already has enough office space without either city getting into the office space business
It's the Commerce and Development agency. As pointed out above this is not an unusual step for a city and the property remains on the tax rolls. Bryan continues to improve itself despite nonstop kvetching from the peanut gallery.


Yeah, maybe Wayfair needs a $40k a year IT guy...
What's wrong with $40K/year? It may not be enough as a sole income for a family of 4 living in a $250,000 house with 2 car notes. But it's plenty for an early career person who is unmarried, or married with no kids, or married with kids and the spouse makes a similar amount or more. Then the person gets experience and goes on to make more money.

Just like any other minimum wage/lower salary jobs - they're not designed to support an established household. And if that's all a person has, maybe they need to think hard about whether they should expand their household and load up with on-credit purchases.
They get experience and get more money...in Houston, Dallas, or Austin, somewhere, leaving the area and taking their family with them. Real affluence in the Brazos Valley (apart from vacation homes/distance commuters) doesn't exist, and never will with that sort of attitude.
doubledog
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doubledog said:

This is great, next they can innovate some road repairs.
Seriously WJB boulevard has more humps than a used camel sales lot.
isitjustme
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AG
PS3D said:

agrab86 said:

Slocum on a mobile said:

techno-ag said:

BQ_90 said:

It won't be up to the workers. If productivity is the same and companies don't have to pay for unused space, they save that money.

Again it was already posted, it's not the job of govt to be landlords. This place already has enough office space without either city getting into the office space business
It's the Commerce and Development agency. As pointed out above this is not an unusual step for a city and the property remains on the tax rolls. Bryan continues to improve itself despite nonstop kvetching from the peanut gallery.


Yeah, maybe Wayfair needs a $40k a year IT guy...
What's wrong with $40K/year? It may not be enough as a sole income for a family of 4 living in a $250,000 house with 2 car notes. But it's plenty for an early career person who is unmarried, or married with no kids, or married with kids and the spouse makes a similar amount or more. Then the person gets experience and goes on to make more money.

Just like any other minimum wage/lower salary jobs - they're not designed to support an established household. And if that's all a person has, maybe they need to think hard about whether they should expand their household and load up with on-credit purchases.
They get experience and get more money...in Houston, Dallas, or Austin, somewhere, leaving the area and taking their family with them. Real affluence in the Brazos Valley (apart from vacation homes/distance commuters) doesn't exist, and never will with that sort of attitude.
No one's been talking about affluence, we been talking about the purchase of a building and bringing businesses to the area.

But since you brought it up, I'd sure like to know your definition of affluence, because we have plenty of affluence in BCS. In Bryan alone, affluent areas include Traditions, Miramont & Rosemary Dr. None of the folks I know in those areas depended on anyone bringing in jobs. They're all entrepreneurs, business owners, and great investors.

I agree that $40k/yr doesn't produce affluence, but went through the scenarios where that would result in a comfortable life. I can tell you for sure that $100-200k jobs don't produce affluence, just more comfort. $300-400k/yr might produce affluence, those jobs are few and far between even in businesses that had those levels of jobs.
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EcoZapp.AC&Air.Purifiers
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$2,000,000 in $40,000 Grants would spread across ~50 different businesses, would probably cycle the money back into the local economy pretty quick. IMO much faster than making an existing building nicer + buying an expensive building from about the largest company found in B/CS, which left the city.

( there are city buildings falling apart that would make an ideal space for local start-ups + Businesses, but the nicest building in town which feels like a Google Office, located on a golf course far away from an Office Depot or Post Office or Best Buy etc.. becomes questionable. )



Pet Projects like this + someone debating if ~$40k a year jobs make Aggieland a haven for growth, makes me realize that most or many people don't understand just how many people quit their jobs for several extra hundred in unemployment benefits.


$2m here, $100m there and eventually B/CS could have built a rocket factory or something space related with all that money + all the students. Nope, ppl think about things in relationship to golf balls in leadership positions with tax money.


Brian Alg
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Links to the 380 Agreement and associated attachments.

Just got it this morning and haven't looked into the details.


https://drive.google.com/drive/folders/17Zv5y5Pt-BFd3k3rd8XWHmG7goJ30dEt?usp=sharing


EDIT: Asked them for the 2009 Partnership Agreement mentioned in the 380 Agreement. That's posted on the Google Drive too now along with the First Amendment to that Partnership Agreement (which is basically just incorporating the 380 Agreement into the Partnership Agreement).
Brian Alg

Brazos Coalition for Responsible Government
EcoZapp.AC&Air.Purifiers
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Brian Alg said:

Links to the 380 Agreement and associated attachments.

Just got it this morning and haven't looked into the details.


https://drive.google.com/drive/folders/17Zv5y5Pt-BFd3k3rd8XWHmG7goJ30dEt?usp=sharing
- This says the building is being purchased for $9,100,000 dollars.. 2020 sure has gotten weird.


The actual Brazos Valley Small Business Development Center could use ~$100k of that.

If anyone has ever been to the Brazos Valley Small Business Development Center, it's about 500 sq feet of resources in the community for small business owners and those getting started.



Seeing $9+ Million of tax money going towards buying a building from a Billion dollar company is confusing.


isitjustme
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AG
Slocum on a mobile said:

You might be surprised at what you can do with $250k a year. One might have a paid off house in SoCo with two paid off cars. I might look at that guy in the mirror every morning.

Good / Great ($100k+) jobs don't exist here for the most part. There is no industry to support them like Houston / Dallas. I find it interesting that the same folks saying just take the $40k job and move when you want a family also lament the transient nature of our community.

I have seen this town chew up and spit out way too many people over the years. Young married couple moved here, hubby and wife both working, and due to whatever circumstances, one loses that $40k a year job. Guess what, laid off person? The job market here sucks. Ssssuuuuucccckkkkksssssss. They either A: burn through their savings looking for a job that isn't there, and wind up having to move back in with their parents... or B. Leave. For a place that has jobs.

I'm just tired of seeing this happen again and again,

/soapbox off
Nice to know your definition of affluence - a paid off so co(2nd?) house and 2 paid cars. You can do that on half that much, but is it affluent? People making minimum wage ($15K) think those making $40K are affluent. Those making $100k do not think those making $40K, or even themselves, are affluent. Comfortable to be sure, but not affluent.

The city is trying to find a way to lure higher paid jobs here. Let's all hope it works b/c it's a pretty expensive bet, and because that would be better than bringing in lower paid jobs. It also seems the city is not buying the building if it really is staying on the tax roles.
bcstx06
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I believe that the RELLIS campus and all that it has in development will bring in many high paying jobs.

Many of you didn't agree with the high speed rail stop here in Brazos County, but believe it or not transportation is key in bringing in big business. Did you know we are the largest metro in the US with an Interstate Highway?
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