EDA reviews future of Roundhouse property donated to authority; potential taker has expressed interest

The Grayson County Economic Development Authority discussed options for the Roundhouse, an EDA-owned historic property that was donated to the authority for $1 and for which the performance agreement with a prior developer expired with no work completed.

Staff reported the original arrangement involved a transfer of the property to the EDA and an agreement that the recipient would refurbish the site. That party did not complete the work during the multi-year performance period; the agreement later expired. A caller referenced as Dale Folwell contacted staff and indicated he might be willing to take on the property. The board discussed whether to pursue a developer to restore the Roundhouse as a historical site, to sell the parcel, or to allow an interested local party to take it on.

Board members described the structure as in rough condition and likely not salvageable without substantial work. One board member said much of the building had been gutted and that only some older timbers might be salvageable for a reconstruction if anyone chose to replicate the original structure. The meeting record shows no formal vote or change in ownership; the EDA still holds title.

Members asked staff to continue contacting interested parties and to return with proposals. No new agreement or sale was approved at the meeting.