Acme Brick asked for assistance 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. We then identified a new site for their relocation and found a buyer for the existing site.
As part of the relocation efforts, we also negotiated an economic development agreement with the City of Fort Worth. The economic development agreement consolidated all of the corporation’s 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.