Jefferson County signs contract with Ford Park buyer
BEAUMONT — The sale of Ford Park to Renaissance Development Group is moving forward step-by-step.
On Tuesday, Jefferson County Commissioners approved authorizing county Judge Jeff Branick to execute the contract of the sale of the property.
Kevin Johnson with Renaissance Development Group explained the contractual agreement between the county and Renaissance was signed Tuesday and includes guidelines and details to the transaction.
The next step is to get the title work and possibly set a closing date.
Johnson said he felt good about the transaction and of working with the county.
Renaissance Development Group is set to release a statement regarding the contract on Wednesday.
In November, Jefferson County Commissioners Court members approved the sale to Renaissance Development for $22.2 million, somewhat less than the original required minimum purchase price of $29.8 million.
Ford Park Entertainment Complex is located on 221 acres and includes an arena, exhibit hall, pavilion, midway and fields on Intestate 10, according its website.
In 2019, voters approved two propositions that legalized pari-mutuel wagering on horse races in Jefferson County and pari-mutuel wagering on simulcast races in Jefferson County.
The propositions did not list a location for the activities.
Johnson said at that time, the group would make a significant impact on the workforce with 400 direct and indirect jobs. Work will be done in phases and could include construction of a hotel, addition of concessions for the ball fields and more.
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