The franchise would primarily sell new cars but would also have a used car department and perform maintenance and repairs. The proposed business would be a 45,000-square-foot facility on a 13-acre site.
That will go before council at the next meeting July 17.
“This should be a good thing for us,” said Bradley Ford, the city's economic development director.
The dealership would be located at Interstate 35W and Hidden Creek Parkway and could open in 2014, Ford said.
“The development team for Toyota really liked the access on I-35W,” Ford said. “They liked how it sits up on a hill and the trees. They have a real eye for environmental sensitivity.”