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Mabank MEDC authorizes chair to negotiate with Lakewood Capital for W. Mason property
Summary
The Mabank Economic Development Corporation voted April 14 to authorize the chair to negotiate with Lakewood Capital over a W. Mason property after a closed-session discussion on economic development. The motion passed unanimously.
The Mabank Economic Development Corporation Board of Directors voted April 14 to authorize the board chair to enter into negotiations with Lakewood Capital over a property on W. Mason. Vice President and Treasurer John Chappell moved the authorization; Council Member Daren Day seconded and the motion passed unanimously.
The board held a closed executive session at 12:35 PM under Texas Government Code Section 551.087(1) and (2) for deliberations on economic development negotiations and reconvened at 1:42 PM before taking the vote. President Randy Teague established a quorum at 12:03 PM and six members were present for the vote (one member listed as not present).
The action does not record specific terms or timelines; the minutes say only that the board authorized negotiations. The board clerk attested the minutes and the next procedural step recorded is for the chair to begin negotiations with Lakewood Capital.
