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Belton Economic Development Corporation seeks council approval to buy 62-acre tract near I-14; council approves
Summary
The Belton Economic Development Corporation asked the council to approve acquisition of a 62-acre tract near I-14 for industrial development; the council approved the contract. BEDC reported due diligence findings, development constraints, and that the purchase can be funded from BEDC fund balance without issuing debt.
The Belton Economic Development Corporation (BEDC) sought council approval March 11 to acquire approximately 62 acres near I-14 for light-industrial development; the City Council approved the BEDC executive director's request.
Cynthia, the BEDC executive director, told council the board negotiated a purchase price of $2,907,000 and had a 90-day feasibility period. BEDC's due diligence found roughly 40 to 41 acres suitable for light-industrial…
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