This afternoon, The Stop Heights Wal-Mart group, an initiative of the non-profit organization Responsible Urban Development, plans to attend the City Council meeting to voice its opposition to the 380 agreement with The Ainbinder Co. for the street development on Koehler.
The 380 would use taxpayer’s dollars to reimburse developer Ainbinder and Wal-Mart (NYSW: WMT) for infrastructure changes that are only necessary because of the development, allege the group.
“The City of Houston has claimed that the 380 Agreement was a means by which the City could address community concerns regarding the impact of a 24-Hour Wal-Mart Supercenter, but none of those concerns have been addressed with the agreement. Furthermore, the very premise of the agreement has yet to be validated. Texas Government Code allows municipalities to use 380 agreements in order to promote economic development and to stimulate business and commercial activity. There has been no evidence that this 380 Agreement will promote economic development,” the group said in a statement.