Earth Quest developers set groundbreaking for early 2012 - Your Houston News:
By Howard Roden | Posted: Wednesday, June 22, 2011 12:16 am
The developer of the proposed Earth Quest project in east Montgomery County has established another deadline for start-up of the 550-acre mixed-use project.Christopher Brown, president of California-based Contour Entertainment, the project's master planner and lead designer, met with the East Montgomery County Improvement District board members June 16.
Before Brown and the board went into executive session to discuss the project, EMCID President Frank McCrady asked Brown if groundbreaking within nine months was a "reasonable" expectation.
"That is our plan," said Brown.
Estimated at a cost of $500 million, Earth Quest is to include a retail shopping experience, a water park, a hotel and a family entertainment center located on 1,600 acres along U.S. 59 between FM 1485 and Texas 242 on the west side, and FM 1485 and Roman Forest Boulevard on the east.
At the heart of the concept is a 150-acre dinosaur theme park and museum. They were scheduled to open sometime this year or in 2012.
Brown said the dinosaur project remains "central" to the development's project.
We're not going to put another carnival on the ground," McCrady said after the EMCID meeting. "Nothing significant has changed."
Announcing a date for groundbreaking is nothing new for the Earth Quest project. Construction was to start sometime in 2010, but a need for investors and the economy affected the timetable.At least one of the investors involved is an independent investment banking group based in Texas, Brown said."It's better to shop for money and generate better returns," McCrady said. "They (the developers) have been waiting for the economy to come around. The Texas market has started to stabilize."
2012 budget: EMCID board members authorized a balanced budget of $5.752 million for the 2012 fiscal year that begins July 1, 2011 and ends June 30, 2012. The budget includes a record $5.1 million in sales tax revenue.Among the budget items approved include $698,000 for Emergency Services District No. 6, $533,000 for ESD No. 7 and $100,000 for ESD No. 11. EMCID set aside $250,000 for community development grants and $600,000 for its scholarship program. EMCID budgeted $190,000 for Earth Quest, $70,000 less for the project in the 2011 fiscal year.Pay bonus: EMCID President/CEO Frank McCrady was voted a $50,000 bonus for the 2012 fiscal year at the June 16 board meeting. He receives a base salary $97,515.Connie Bloodworth was the lone board member to vote against McCrady's bonus."It was just my personal reasons," Bloodworth said.
Courtesy of the Conroe Courier
