Government
BY SAMANTHA DOUTY
Celina officials OK incentive agreement for future Home Depot
Looking ahead
The Home Depot will be located on the northwest corner of Ownsby Parkway and Preston Road adjacent to the Costco currently under construction. More details on the project will be made available as the project progresses.
Celina City Council approved a Chapter 380 agreement with Home Depot during a special called meeting Dec. 19. The agreement accounts for a $1.4 million sales tax grant over 10 years that will be split between the city and the Celina Economic Development Corporation. The city is expected to see a return on the investment in five years. The facility is planned to total 105,000 square feet. The company will be required to obtain a certificate of occupancy by July 31, 2026 and must be operating by Aug. 31, 2026. As a large, sales-tax-producing business, the new Home Depot location will generate substantial revenue to support the City’s infrastructure and public services, according to a Jan. 15 city news release.
The city and economic development corporation will split the sales tax grant, which will be totaled $1.4 million over the next 10 years.
CEDC portion: $559,000
Total: $1,397,500
SOURCE: CITY OF CELINA/ COMMUNITY IMPACT
City portion: $838,500
CARTER RANCH RD.
“Home Depot’s investment reflects the confidence businesses have in Celina as a vibrant, thriving city,” Celina Mayor Ryan Tubbs said in the Jan. 15 release.
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