[{"_1":2,"_99":-5,"_100":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75,87],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6521499,"mediaKeyId","5091767-6a15811e0e4510cd33349db08b2b8f9e","parentId",5091767,"title","City council approved assignment of 2019 Conroe tax abatement; CIDC informed and a resident urged more transparency","audioSeconds",687,"startMs",942000,"endMs",1629000,"viewUrl","/Search/View?dp=1&key=5091767-6a15811e0e4510cd33349db08b2b8f9e&start=942&end=1629","thumbnailUrl","https://assets.pipeline.soar.com/5091767-6a15811e0e4510cd33349db08b2b8f9e/thumbnail_942000.jpg","articleUrl","/articles/6521499/Conroe/Montgomery-County/Texas/City-council-approved-assignment-of-2019-Conroe-tax-abatement-CIDC-informed-and-a-resident-urged-more-transparency","mediaUrl","https://secure.pipeline.soar.com/6521499-6dff49232067149c1fabd14d044c4a6c/orig.mp4?Expires=1771172739&Signature=f8NxD5-LH5APbLvUwsAWVcjRcetUJmu89kWSBJETcIRFsOGcmhykPJs3s2-YyXxp2W6Z~Y2Cl-GY464u6N11SL1Jqy2uoNnQ2B9M-e~qb0l0v8AW2UhNeJne1zOFNEXncuVRVpl4wPZC29KZBcorc-krm1dXkDjVchRdvgcPtuA7IUwomGDfKMmAgLvlao3VYs6xGbeelnEhK7YWRXMl5f1hZFEcqsXmK2EjwToxeZTR74sEaKL45DyFv8TM099GvNUgedwEQuCJ3V8fmFinA~xouBdDwz6P-FcZVKlrRcWktNY5Z6KPOXTiOFJg3s~wVcaGewMsUEfs8M3EIBumfQ__&Key-Pair-Id=KUT5TJCACFTXG","author","Conroe","date","2025-06-26T00:00:00Z","article","Conroe City Council approved assigning a 2019 tax abatement agreement for property in Conroe’s industrial park from Conroe Owner LLC to Texas Equity Funding, and city economic development staff presented that action to the Conroe Industrial Development Corporation on June 26 as an information item.

Mr. Garner told the CIDC board the assignment had been discussed in a city council workshop the day before and approved by council earlier the same day. He said the abatement has two years remaining: a 40% step in 2026 and a 20% step in 2027 (as described in the 2019 agreement). He noted the matter was presented to CIDC because the original sale and incentives “did go through CIDC.” The CIDC item was information only; no board action was required.

During the meeting’s public comment segment, a resident, Miss Avery, addressed the board with two related concerns: public access to CIDC agendas and packet materials, and how tax abatements are documented when properties are sold. Avery said she could not find a packet or agenda online for the CIDC meeting and asked that future agendas include a public-comment opportunity. She also asked whether abatement step-downs and ownership changes are reflected in the comptroller’s records when a company sells assets after bankruptcy.

Garner responded that the 2019 abatement agreement and the council workshop agenda contain the relevant documentation and that the 2026 and 2027 step-downs are spelled out in the attached agreement. He said the city council packet from the previous day included a copy of the abatement agreement. A CIDC official noted that where formal action is not required (information-only items), there will typically be no CIDC action or additional CIDC documentation from the meeting.

No formal action by CIDC was taken on the abatement assignment at the June 26 meeting; board members were informed the city council had approved the assignment earlier that day.

Quotations in this article are drawn from the June 26 meeting transcript and are attributed to speakers listed below.","mediaType","Video","parentTitle","Conroe - CIDC - Jun 26, 2025","oneSentenceSummary","City council approved assigning a 2019 tax abatement for property owned by Conroe Owner LLC to Texas Equity Funding; CIDC received the item as information. A resident at the CIDC meeting asked for clearer online access to agendas and asked how abatements are documented with the comptroller and recorded when properties change hands.","taxTitle","Conroe, Montgomery County, Texas","taxId",2810,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6521504,"CIDC investment report: $41.9 million market value; interest reinvested, board weighs debt-paydown timing",296,629000,925000,"/Search/View?dp=1&key=5091767-6a15811e0e4510cd33349db08b2b8f9e&start=629&end=925","https://assets.pipeline.soar.com/5091767-6a15811e0e4510cd33349db08b2b8f9e/thumbnail_629000.jpg","/articles/6521504/Conroe/Montgomery-County/Texas/CIDC-investment-report-419-million-market-value-interest-reinvested-board-weighs-debt-paydown-timing","https://secure.pipeline.soar.com/6521504-9f403b792a2d2158ab6d2c4a538c602e/orig.mp4?Expires=1771172739&Signature=L2P51f3f7PeOWz4dq4EQhjMnbb03916sTgCg3jlFJL8uTMbsB7IRmRSU092VIXaASxKE7VGkP17y7po~k60KdFUfOjkyXs7rVi8RV-z20peJ9UwtT96lQCNJKgP~X0w5zUsi-6bQOS4rqMtoRrQSZ30cemNkDqHA8~diETLVTXn4dBvzXlGcQrnBvpyBUgOALyopGUZ-qdnx-PvaIjjt8GQFXUG0mxXWe2LtNI2bFGvmwkdHKsxVfmFL~xz3j3vCq6otgq9pFG0v3uPEoQ4DfTfRvmQZJ8aWS8L3tDE9SMvDNtrVqCWSjhOWivy3yPcoX~ey-BV5SvlvLhsJT-fRwQ__&Key-Pair-Id=KUT5TJCACFTXG","The Conroe Industrial Development Corporation on June 26 received its second-quarter investment report covering Jan. 1–March 31, 2025, that showed an ending market value of about $41.9 million and interest earnings of roughly $458,000.

Michael (investment presenter) said the portfolio’s yield to maturity was 4.36% and that holdings were highly concentrated in investment pools (about 92.6%), with 7.16% in Treasury notes and 0.26% in municipal bonds. He told the board the yield was down about 0.23 percentage points from the prior quarter but interest earnings were up roughly $63,000 compared with the previous quarter.

Board members asked whether interest earnings were used to pay down debt. Michael said the earnings were reinvested and described a historical practice of leaving funds in the pool unless the board directed otherwise. “We don't historically have … taken that interest and allocated it to something unless we were kind of directed to do so,” he said. The board discussed the tradeoff between keeping funds invested at current yields (4.36%) and using funds to pay down higher-cost debt if interest rates decline.

The board voted to accept the second-quarter investment report by voice vote.

The presentation included a slide comparison of quarterly interest earnings and historical yield trends. Board members directed staff to incorporate this ongoing yield and debt-service context into future reports so the board can evaluate whether to liquidate pools for debt service when market conditions change.

Quotations in this article are drawn from the June 26 meeting transcript and are attributed to speakers listed below.","Conroe IDC’s investment officer reported a $41.9 million ending market value for quarter two and a 4.36% yield-to-maturity; the board discussed whether to keep earnings reinvested or apply funds to debt service and approved the report by voice vote.",{"_33":88,"_35":36,"_37":38,"_39":89,"_41":90,"_43":91,"_45":92,"_47":93,"_49":94,"_51":95,"_53":96,"_55":56,"_57":58,"_59":97,"_61":62,"_63":64,"_65":98,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6521508,"Conroe IDC treasurer reports $42 million fund balance; board questions hotel-related debt exposure",226,145000,371000,"/Search/View?dp=1&key=5091767-6a15811e0e4510cd33349db08b2b8f9e&start=145&end=371","https://assets.pipeline.soar.com/5091767-6a15811e0e4510cd33349db08b2b8f9e/thumbnail_145000.jpg","/articles/6521508/Conroe/Montgomery-County/Texas/Conroe-IDC-treasurer-reports-42-million-fund-balance-board-questions-hotel-related-debt-exposure","https://secure.pipeline.soar.com/6521508-8cd74868e48d18680945565712617ff9/orig.mp4?Expires=1771172739&Signature=M4-cL5CaeslfJfoyMSiNsKzSt9p82uNNlcv2B3pd7Ak2oXhqXC46dHJwDZVVmOI8IAIwpvNKnCIN1A8Rcn0XbUUuga4u9y-UPR~h~N~86jx~EF172Heuv-KSfhnFd6l6DyQpLKK~5pEmBaAUcFIYptw7diMvp2mXKKJToAc4ydnqT34VdmwKbyFs~BlO4BTnPgtCECUQAr2lK6XGwbE2aH2ScOLgJKk7tVuWnaYdIfEo7KOj0B1v7v8G6HyQZcUVteWlimdFPWmx6W74TaHr8k-YetNfkMNUv5yaZ7~cgf6SocZa3R2jcgqgvtN139XKNF99tqo1sGjkTXF3VLU6qw__&Key-Pair-Id=KUT5TJCACFTXG","The Conroe Industrial Development Corporation heard a May 2025 treasury report at its June 26 meeting that showed a positive unassigned fund balance but also substantial long-term liabilities and upcoming loan payments.

Treasurer (unnamed on the agenda) presented the consolidated May balance sheet and said she “add[ed] 1 more line item” to show land ownership and the corporation’s financial picture. She reported year-to-date revenue of about $13 million, year-to-date expenditures near $5.3 million, and that CIDC had reached roughly 75% of its budgeted revenue as of May. She said the unassigned fund balance on the CIDC balance sheet was about $42 million and warned that total expenditures would increase when a loan payment is made in September.

The report matters because CIDC carries long-term debt that board members said is tied to several development projects the corporation helped support. One board member asked about the makeup of “the 133,202,000” figure on the long-term liabilities line. The treasurer said that amount reflects outstanding principal plus future interest on several obligations, including sales tax revenue bonds and a “hotel backstop lien.” The board member also summarized several hotel-related exposures referenced in local reporting: “the $16 million that was a loan interest free to CLGC, plus the $3 million which was land and a $1 million seed money, plus the third lien.”

Board members said they had seen a recent SMP report and would review options before an April 2026 default window mentioned during the discussion. A staff speaker said, “we're kind of looking into our options before that date,” and that the corporation would address the issue over the next couple of months.

Other details in the treasurer’s presentation included a 3.7% decrease in sales tax receipts for May (but a 1.6% year-to-date increase) and an estimated transfer-out budget of roughly $24 million for the fiscal year; year-to-date transfers were far smaller. The treasurer said CIDC estimated about $1.0 million for incentives for fiscal 2025 and that about $1.0 million had been paid year to date (approximately 65.9% of the incentive budget). She closed by inviting questions.

Board action: the board moved, seconded and approved acceptance of the treasurer’s report by voice vote.

The board discussed follow-up steps and indicated staff and counsel would return with options on managing debt tied to the hotel and other long-term liabilities. No formal changes to policy or spending were made at the meeting.

Quotations in this article are drawn from the June 26 meeting transcript and are attributed to speakers listed below.","At the June 26 Conroe Industrial Development Corporation meeting, the treasurer reviewed the May 2025 consolidated balance sheet and said CIDC held roughly $42 million in unassigned funds; board members pressed staff on long-term liabilities and potential effects from a troubled hotel project.","actionData","errors"]

Article not found

City council approved assignment of 2019 Conroe tax abatement; CIDC informed and a resident urged more transparency

CIDC investment report: $41.9 million market value; interest reinvested, board weighs debt-paydown timing

Conroe IDC treasurer reports $42 million fund balance; board questions hotel-related debt exposure