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LBIC seeks city assistance for interest expenses on 35-acre commercial park purchase; administration recommends approval
2672565 · March 18, 2025
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Summary
The Lamar Business Initiative Corporation requested city help covering interest expenses for a 35-acre land purchase to develop a commercial park; city administration recommended approval with a maximum annual assistance of $210,000 for two years.
The Lamar Business Initiative Corporation (LBIC) asked the city for assistance to cover interest expenses associated with the purchase of 35 acres at Key Avenue and 204th Street SW off Exit 116 along Highway 75. The parcel, currently farmland west of Love’s Travel Stops and…
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