by Michael Robinson | Uvalde Hesperian
The Uvalde County Commissioners Court convened into an executive session near the end of its meeting on Tuesday, October 10th to consider a contractual agreement with Ridgemont Properties, Inc. on a confidential development project the Ridgemont Properties, Inc. and the County are negotiating but appear close to striking a deal.
According to the October 10th Commissioners Court agenda, it reads as follows: “Consider and act upon approval of Chapter 381 Development Agreement between Uvalde County and Ridgemont Properties, Inc. for the stimulation of business and commercial activity in Uvalde County for a term of (15) years.
After reconvening into open court, the Commissioner’s voted to accept the substantially completed presented form according to information provided by Commissioner John Yeackle.
This approval falls short of a signed contract between the County and Ridgemont Properties, Inc. Commissioner John Yeackle indicated there are still some details to be worked out.
According to information on the Texas Association of Counties website, it reads: Chapter 381 allows counties to provide incentives to encourage developers to build in their jurisdictions. The commissioners court may create a program using public money to make loans and grants that encourage state or local economic development. The economic development agreements can also be used to stimulate and encourage business location and commercial activity in the county.
It is not currently known what economic incentives the County might be offering Ridgemont Properties Inc. or the location of the project being discussed.
When asked if the project being discussed is a new subdivision or a single building, Yeackle indicated the subject being negotiated pertains to a building.
The Uvalde Hesperian spoke to Founder Trebes Sasser Sr. who was accompanied by his son Trebes Sasser Jr. (Vice President) and an attorney representing Ridgemont Properties, Inc. at the Court’s meeting.
Sasser Sr, stated a press release is being made available to local media and had also indicated his intent to quickly get the press release over to another local publication.
The Uvalde Hesperian has requested this release be made available to the Hesperian, but after 24 hours later, has yet to receive the press release.
According to the Company’s website, it reads: “Ridgemont Properties, Inc, established in 1984, is a family owned and operated investment company. Ridgemont is focused on investing in real estate assets situated in infill locations throughout San Antonio’s premier submarkets and urban core. The portfolio consists of an array of property types including multifamily, office, retail, industrial and covered land.
Ridgemont primarily focuses on identifying longer-term investment opportunities that offer an above-average return for a given amount of risk. Additionally, Ridgemont holds to an entrepreneurial investment flexibility which allows for “outside the box” investments and structures, necessary to get a wide array of deals done.”
According to a San Antonio Express News report on February 22, 2022 :Design for an Alamo Heights apartment complex will change after board denied requests for variences , the article states,
“Ridgemont Properties, which operates several multifamily complexes in the area through a company called Alamo Heights Apartments, wanted to build a three-story, 35-unit complex with 51 off-street parking spaces on Katherine Court. In January, Sasser asked the city to approve five zoning variances, but a decision was tabled until Wednesday.”
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