Board of Directors Regular Meeting Agenda


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Meeting Date: 01/22/2020  

SUBJECT MATTER:
Receive, consider and act upon a discussion of Randalls store closures in Grogan's Mill Village Center and Panther Creek Village Center (as requested by Director Sekula-Gibbs);
FISCAL IMPACT:
N/A
BACKGROUND:
On January 10, 2020, the Township received notice of the planned closure of two Randalls grocery stores, which are located in the Grogan's Mill Village Shopping Center and the Panther Creek Village Shopping Center. According to the notice received, the two Randalls stores will close on or before February 15, 2020.
 
Randalls owns the grocery store real property in the Grogan's Mill Village Center and leases the store real property in the Panther Creek Village Center.
 
Some residents have expressed concern about the loss of the grocery stores in these Village Center locations and have speculated on the potential repurposing of these properties.
 
The eventual reuse of the closing Randall store sites will have to comply with the existing Initial Land Use Designation (ILUD) approved uses. When property is developed within The Woodlands, an ILUD is set out as a covenant running with the title to the property.

The Initial Land Use Designation (ILUD) limits permissible land uses and sets minimum and maximum building sizes and/or other constraints and restrictions. The ILUD is recorded in the County Real Property Records as an additional restrictive covenant on the land, and is binding on all future owners. Any alteration or amendment to an ILUD requires approval by the parties to the ILUD.

For the Randalls store site in the Grogan's Mill Village Center,  the ILUD provides that the allowable property use is commercial and the ILUD states the following: "The Property shall be used solely and exclusively for the construction, operation, and maintenance of facilities for any commercial or business purpose except manufacturing and warehousing.

For the Randalls site in the Panther Creek Village Center, the ILUD states the following:  “The Property shall be used solely and exclusively for the purpose of constructing, operating and maintaining facilities for any commercial or business endeavor except manufacturing and / or warehousing.” 

The ILUD provides for an amendment process. However, this process requires that The Woodlands Development Company (or its successor), the Development Standards Committee (DSC) and the property owner must all mutually agree on changes to the ILUD.

The Grogan's Mill Village Center has numerous property owners. A list of the real property owners per the Montgomery Central Appraisal District (MCAD) tax roll is attached to this memo. As noted earlier, the Randalls store in the Grogan's Mill Village Center  is owned by the Randalls Food and Drug LP. 
 
The Panther Creek Village Center also has multiple owners; however, the majority of the real property in the Center, including the Randalls store property, is owned by Regency Centers LP. 

While the Covenant Administration Department monitors the properties for Covenants and Standards compliance, The Woodlands Township does not own or manage the village centers nor does it have a controlling interest or influence over business recruitment or retention at these centers. 
 
Director Sekula-Gibbs has requested that this matter be placed on the January 22 Township Board meeting agenda for review and discussion.
RECOMMENDATION:
For information only.
Attachments
List of Real Property Owners in the Grogan's Mill and Panther Creek Village Centers


    

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