Time running out for TSS to repay city
NEW BRAUNFELS, Texas – Fifteen days remain for The Scooter Store to pay the $1.3 million that New Braunfels says the company owes the city as part of a “claw-back” stipulation from a 2009 incentive agreement, according to an article from KGNB, a local radio station. In 2009, several Texas cities were trying to woo The Scooter Store, a large private employer, away from New Braunfels. But when the city stepped in and offered $3.4 million dollars in incentives, the company opted to stay put, according to the radio station. After a recent audit of The Scooter Store’s employment data, however, city officials found that about half of the roughly 400 jobs the company created through the economic incentives were not maintained. As a result, the city says The Scooter Store is contractually obligated to repay $1.3 million, according to the radio station. On Feb. 19, the day before the FBI raided The Scooter Store, the city informed the company by letter that it had until March 20, 2013, to make the payment.