By David Ball
The Port Arthur News
PORT ARTHUR
October 07, 2008 07:16 pm
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Some bright spots seem to be on this week’s agenda for the board of directors of the Port Arthur Economic Development Corporation.
Floyd Batiste, chief executive officer for the PAEDC said Clay Development and Construction for Tyco Flow Control, a Houston-based company, will make a request to the board to purchase three acres of land to build a 25,000 square feet facility at the Port Arthur Business Park. The PAEDC regular meeting begins at 6 p.m. Wednesday, at the PAEDC building, 4173 39th St. in Port Arthur.
Batiste said if the measure is approved, it will mean more good-paying jobs for the area. He added his report to the board details a seven percent increase in sales tax collections for the end of September over last year.
“This shows the city is growing,” Batiste said.
Directors will consider a request to de-obligate $100,000 of the city revolving loan fund administered by the PAEDC through the Grow Port Arthur Fund to establish a Port Arthur Emergency Relief Loan Program to assist small businesses affected by a natural disaster.
If approved first by the PAEDC board, and ultimately by the city, $2,500 to $7,500 in low-interest loans can be made to small businesses.
“They may fold if we can’t supply the assistance,” Batiste said of businesses.
ENGlobal Systems is wrapping up a construction project at the business park and they’re asking the PAEDC for economic incentive agreements, a lease with options, lease guaranty and sales tax revenue bonds. The original PAEDC bond issue was $5.5 million for the project. The PAEDC decided to increase the amount to $6 million to ensure there would be enough money to cover soft costs such as attorney fees and the selling of the bond.
The board will discuss the value of the land per acre for a future industrial park on Texas 73. One acre is in the process of selling for $110,000 and the PAEDC staff is looking for a median price for inquiries from buyers.
Directors will consider approval of paying $150,000 to Camellia Plaza, located at Texas 73 and West Port Arthur Road for the construction of infrastructure.
Batiste said the PAEDC gave them up to $1.4 million in 2006 to pay over a 10-year period.
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