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Council hears first readings for two EDC incentives: $25,000 for LPLC Holdings and up to $85,000 for Mosier Contracting
Summary
At first reading, the Gun Barrel City Economic Development Corporation sought council approval for a $25,000 reimbursement for LPLC Holdings' parking-lot repave (project cost $55,400) and an $85,000 incentive package for Mosier Contracting Inc. Staff revised Mosier terms to a $75,000 loan amortized over seven years at 3% plus a $10,000 reimbursement grant; one councilmember recused from the Mosier item.
The Gun Barrel City Council on Dec. 16 received first readings for two Economic Development Corporation performance agreements.
EDC Director Charles Hauck introduced Resolution R-2025-013, a performance agreement with LPLC Holdings LLC to provide financial assistance "in an amount not to exceed $25,000" to help repave a parking lot between 410 and 426 (project cost cited as $55,400). Hauck…
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