After weeks of negotiations, the Hutto Economic Development Corporation (HEDC) and Titan Development have buried the hatchet, forging a new agreement to advance the Hutto Megasite project. The agreement resolves a prior notice of default issued by Titan over delayed construction milestones.
According to Taylor Press, the new "Letter of Agreement and Notice to Proceed" reinvigorates the partnership, moving the HEDC out of default. The default was mainly due to the stalled progress on the so-called Spine Road. HEDC recently announced Jordan Foster Construction as the contractor for this pivotal project, aiming to fulfill commitments and avoid further disruption.
HEDC Board Chairman Don Carlson expressed relief and optimism in a statement "We are very happy to have this new agreement in place, allowing us to focus on the future prosperity of the development and continued collaboration with Titan to bring it to fruition," as per the City of Hutto reports.
Jordan Foster Construction's role in developing the Spine Road continues, with the City and HEDC working to integrate the design changes laid out in the new pact. Despite these alterations, the involved parties do not foresee an impact on the construction timetable, with the road's completion still earmarked for the fall of 2024. Furthermore, the agreement calls for additional connections to local thoroughfares to accommodate future traffic needs and fire code requirements.
Joe Iannacone, a Texas-based Partner at Titan Development, acknowledged the resolution of the impasse, stating his enthusiasm for the ongoing collaboration. Iannacone said, "I am pleased with the positive outcome of the recent resolution with the Hutto EDC and eagerly anticipate the continued successful partnership in future developments."
For those looking to follow the development's progression, updates are promised to be forthcoming from HEDC's website.
