Mr. Bleinberger was engaged to trouble-shoot a TIF project that involved 900 acres of land, a proposed Jack Nicholas Golf Course, which would also serve as the official course for Texas A & M University, and a hotel / conference center. The project was the subject of a $30 million bond which was in danger of reverting to the City of Bryan’s guarantee because development was not occurring at the pace originally forecast, thus causing a shortfall in TIF revenues to service the debt.
Mr. Bleinberger successfully strategized the sale of surplus land, a land swap between Bryan and College Station, and a revamped Master Development Agreement that averted a potentially devastating financial situation. Residential development was spurred, completion of the integral golf course was re-started, and the hotel / conference center portion of the project was scrapped in consideration of weak market support as determined by the Strategy 5 Principal. A revised set of building and development fees, impact fees, etc. were employed as part of the strategy.
The reconfigured project went on to become a successful addition to the City’s economic base.
Bryan / College Station, Texas is the home of Texas A & M University, the George Bush Presidential Library, and various historic attractions. A TIF bond default and impending $1 million interest payment guaranteed by the City of Bryan were averted due to Strategy 5’s intervention and creative solution to the problem.