EDIE ZUVANICH Special to the Press
HUTTO — Hutto Economic Development Corp. has received a letter of default from Titan Mega Land Investors, LLC. The notice was discussed at the Dec. 4 Hutto EDC meeting behind closed doors. After the briefing in executive session, the EDC board members voted to direct legal counsel to proceed as decided during the session, and approved staff and counsel to engage in discussions with Titan.
The default notice was also brought up at the Dec. 7 Hutto City Council meeting. Another executive session ensued, and council briefly discussed, but decided against releasing the default letter to the public.
“I think as a city council, as an EDC board, we have got to do a better job at making sure that the agreements that we do, whoever they are involving, are written in manners that we understand what they are, that we can explain them to our constituents and we can then track and make sure they are meeting deadlines and things like that,” Mayor Mike Snyder said regarding the notification letter after council emerged from executive session.
“I don’t know how to fix it other than us slowing down,” Snyder said, while also adding, “This one here may not be on us.”
No other details of the default notice’s content are known at this point. Titan Mega Land Investors has not replied to requests for information.
Hutto spokesperson Allison Strupeck stated, “The Hutto EDC is focused on resolving this development issue and looks forward to finding a solution that satisfies all parties. We will provide an update in the next couple of months.”
Titan Development purchased 188 acres in Hutto’s Megasite in May, 2022. The land was dubbed the ‘Hutto Mega TechCenter’, and the master site plan included buildings in a variety of sizes with the largest being over 1,000,000 square feet.
Shortly after making the land purchase public, Joe Iannacone, the Austin-based senior vice president of the New Mexico company, said, “We are excited to be developing new industrial properties at this very attractive location in Hutto. We anticipate this new industrial park will help meet the increasing demand by high-tech companies and suppliers to locate in the greater Austin area.”
Titan entered Central Texas with aggressive ambitions. The company had industrial projects underway in Georgetown and Lockhart as well as Hutto. In October, they announced another new development, an 116acre industrial park in Leander.
Titan Development, as Titan Development Real Estate Fund I, is also the developer of Hutto’s Innovation Business Park, an industrial park on 600 Schneider Blvd., 72-acres of land near the East Williamson County Education Center. They began development of that parcel in 2019.
