FEDC ponders incentives for 203 S. Bois d'Arc

During its regular July 09, 2020 meeting, the Forney Economic Development Corp. met to consider a Facade/Interior incentive request, sale of 106 E. Main St to Latham's, vehicle purchase and update on new Executive Director search.

  • Financial report: 3/4 thru Fiscal year, revenue is several points ahead of projection, but payment from state lags a couple of months.  City Manager / Interim Director Mr. Tony Carson said just got numbers for May: is 37% above last year.
  • Executive Director's report: Mr. Carson has had numerous meetings and calls, developers, potential leads, some of which did not meet requirements.
  • Approved $4,062 Facade / Interior Incentive application for 203 S. Bois d'Arc.
        Mr. Carson said the renovations estimate is $16k, incentive is 25% so $4k.  Pres.  McBeth said space needs some TLC.  Ms. Lewis asked if any structural changes - applicant said no, just cosmetic, trying to remove places for people to touch and make it easier to clean.  They were closed for 10 weeks, doing this for safety.
  • Re: sale of 106 E. Main St
        City Attorney Mr. Thatcher suggested discussing in executive session first.
  • Approved the capital purchase of an FEDC vehicle, not to exceed $40k.
        Pres.  McBeth said Mr. Ketteman approached him few months ago, need a bigger vehicle, currently paying mileage for personal vehicle use.  Ms. Lewis asked if this was in budget - Mr. Carson said council would have to approve moving the money, but funds are available.  Mr. Burrus asked about maintenance on the vehicle - Mr. Carson said the city has no mechanics, work is sent out.
        Pres. McBeth invited Joseph Burchett to introduce himself: he just graduated from Baylor with degree in economics, lived in Forney his whole life, recommended by his sister Misty Holler.  Pres.  McBeth said the family has a history of giving back to city.
  • Held a 50-minute executive session re:
  • Approved sale of 106 E. Main St to Ms. Latham for appraised price of $370k and credit of $20k.
  • Adjourned at 1934.
Thursday, 2020, July 9