Acme Brick asked Bennett Benner Pettit to help their company understand the opportunities for developing properties surrounding their new corporate headquarters in the City of Fort Worth. Located just three blocks from the Cultural District and a ten minute walk from downtown, Acme Brick was interested in being a participant in the revitalization of this part of the city. Our team studied the area and made recommendations for a new mixed use district, with revitalized retail, office development, and a new residential neighborhood.
After reviewing the subsequent feasibility analysis Acme determined that it was in the best interest of the corporation to relocate their headquarters. Bennett Benner Pettit then identify a new site for their relocation and found a buyer for the existing site.
As part of the relocation efforts, Bennett Benner Pettit negotiated an economic development agreement with the City of Fort Worth. The economic development agreement consolidate all of the corporations sales tax statewide within the City of Fort Worth and provided a rebate of 100% of the City’s $0.01 sales tax rate. These incentives, which will be paid in 32 annual economic development grants, is expected to total over $28 million dollars.
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