Sale of the garage retail space to Llano Group closes
The LGC reported the sale of 22,169 square feet of commercial space in the downtown parking garage to Llano Group, LLC ($1,900,000, approved by the council on September 12, 2023) complete as of July 2, 2024.[1][2]
LGC minutes record that Llano Group's feasibility period had ended with a 'drop dead' closing date of June 25, 2024, that on May 15, 2024 the board approved a 75-year parking lease for 90 spaces with AMA Condos 79101, LLC tied to the sale, and that the sale was complete as of July 2, 2024.[2][1]
✓ Verified
As of October 10, 2026 no fetched source states how much of the $1.9 million sale price was applied to the TIRZ #1 note or the City's loan to the LGC, or whether either was paid off; TIRZ #1 and LGC minutes reviewed for July 2023 through 2026 do not report a loan balance or payoff.[1][3][4]