Delays in getting leases from potential tenants signed, among other issues, has led to the delay of the opening of a proposed $60 million outlet mall in Robstown to spring 2010.
County leaders approved a reciprocal agreement with Dolphin Ventures I LLC, the San Antonio-based developer of the Outlets at Corpus Christi Bay, which would allow for the installation of signage and driveways along fairgrounds property.
A letter written by Dolphin Ventures President Rick Carduner to county leaders in August said because of the struggling economy, banks interested in the project are requiring Dolphin Ventures to have a larger percentage of tenants under a signed lease before construction of the 350,000-square-foot project can begin.
As such, the proposed outlet mall likely will not open until spring 2010, months longer than the original November 2009 date given by the developer in previous months, Carduner wrote.
The county also approved a third extension for the developer to complete a feasibility study. The study must now be completed by Nov. 15.
The move by the developer to delay the project falls in line with the City of Robstown's slow work to get an agreement on the developer's request for a $14 million Infrastructure Financing Agreement.
A term sheet issued by the city in May had set a goal of Aug. 15 to have a deal with Dolphin Ventures finalized, but talks have taken longer than expected. The deal would allow the developer to be reimbursed solely by new sales and property taxes generated by the outlet mall for up to $14 million in infrastructure work, such as various site work and drainage.