Mount Pleasant’s City Council voted to approve a letter of intent, lease agreement and performance agreement with Illuminance for a proposed aluminum reprocessing facility, a council member said during a special joint meeting with the Mount Pleasant Economic Development Corporation (MPEDC).

The agreements, tied to “Project Elixir Pro,” authorize a 30‑year lease on the EDC’s Wind Fill property for a facility the company described as at least 120,000 square feet (with a desired size of 220,000). The MPEDC will provide $7 million in financial assistance in the form of a forgivable loan, and the project is expected to result in a minimum investment of $45,000,000 and at least 130 net new jobs by the fifth year, officials said.

Jeanette (EDC staff member; name as spoken in the meeting) summarized the deal and said the EDC’s assistance is structured as $500,000 for site preparation to be paid on execution, and $6,500,000 to be paid as qualified expenditures are documented. The company also committed $300,000 to the City of Winfield to be paid in year three, and the EDC staff said the company will pay back the loan to the EDC at year three, per the agreement terms presented to the council.

Richard Mainick, chief executive officer of Illuminance, told the council the company selected Mount Pleasant after competing with at least one out‑of‑state site. “Mount Pleasant was our very [first choice] and we wanted to be our last,” Mainick said. He described the project as an opportunity to establish a national hub for recycled aluminum.

An unnamed company chief operating officer, speaking at the meeting, emphasized safety and local hiring, saying, “Will be safe. I guarantee you we'll be safe. Our number one priority is safety,” and adding the company intends to pay “well” and operate long term.

Patrick Gagnezar, with 1 Vision Capital, described the project’s technology as aiming to use the full value chain for aluminum and avoid landfill disposal. He also thanked the EDC staff for their work attracting the project.

Under the revenue terms explained at the meeting, lease revenue is to be split with Mount Pleasant receiving 42.75 percent, the MPEDC receiving 42.75 percent, and the City of Winfield receiving 14.5 percent; those percentages were presented by staff as the allocation to be used for infrastructure improvements that meet the requirements of Texas Local Government Code chapter 501. The council’s motion approved the agreements “as approved by the MPEDC,” and included a condition that the MPEDC document the 42.75 percent revenue sharing with the city in a separate agreement to be completed within 30 days.

Greg Nighoff, Mount Pleasant’s city manager, said the project would bring multiple local benefits including jobs for current residents, potential growth in sales tax and new residents, and an estimated flow of roughly $100,000 per year to the city over 30 years from the lease revenue arrangement as described at the meeting. He noted additional details about actual costs and allocations still need to be finalized.

Council members took the motion to accept the substantive forms of the documents; the motion passed. The EDC and company representatives said Illuminance plans an official press release in the coming week and the city will share information when available.

The council meeting had opened with a brief executive session under the Texas Government Code to discuss real property and economic development negotiations before reconvening for the vote. No dissenting vote or formal objections were recorded on the motion as read into the minutes.