EDA says agreement with Raymond Sage on Visa Plus is near completion; Sage has ordered equipment and paid $25,000 deposit

The Grayson County Economic Development Authority said it is finalizing an agreement with Raymond Sage for a project at the Visa Plus site and expects paperwork to be ready soon for signatures.

Why it matters: Board members indicated the agreement is the final step before the EDA’s previously authorized signatories can execute the contract and Sage can move ahead with site work and equipment installation.

What board members reported - Status of agreement: A member told the EDA that they spoke with a staff member (identified in the meeting as "Durban"), who expected the agreement to be ready by the following week and said he had reviewed the needed documents for the loan and grant components.

- EDA authorization: The board indicated that, at an earlier vote, the EDA had authorized two signatories (the speaker and "Steve") to execute the agreement once final documents were ready; the speaker said that once the agreement is complete either those signatories should sign and return it to Sage.

- Project activity and payments: The same report noted that Sage had already ordered equipment and paid $25,000 toward that equipment; staff said Sage expected the equipment to arrive in roughly 60 days and anticipated a late spring to early summer timeline for availability on site.

Quotations "I do know the invoice that we sent for part of the grant loan thing. He's paid he's already ordered equipment. He's paid $25,000 down on himself," a board member reported.

Next steps Board members said the EDA should sign the final documents as soon as staff counsel provides them; members asked staff to notify appropriate signatories when the agreement is ready. No new formal vote on the agreement occurred during the meeting.

Ending The EDA expects to receive finalized documents from staff counsel and directed that authorized signatories complete execution quickly so the project can proceed.