On August 21, 2013, at the Forney City Council meeting, Forney Economic Development Corporation (FEDC) Director Kim Buttram sought approval from the Forney City Council on a resolution for a proposed $2 million sales tax revenue bond and its corresponding project list.
The Forney EDC previously presented the project list for the bond in March of 2013 to the Forney City Council. The council ultimately chose to send the bond and its project list back for review by the EDC Board and asked for a prioritized project list.
On April 18, 2013, the Forney EDC Board of Directors unanimously approved the new project list which includes approximately $500,000 for renovating existing city and EDC owned buildings and another $1.2 million for the purchase of additional buildings in downtown Forney.
The City Council approved the resolution and project list and the resolution was officially read for the first time. The second reading of the resolution is planned for the September 3, 2013, City Council meeting.
Forney Economic Development Corporation project list for proposed $2 million sales tax revenue bond:
211 South Bois D Arc Street (~$125,000) – This building is currently gutted and vacant. The funds will be used to install plumbing, electrical, HVAC, and minimal finish-out of the space to accommodate a future business.
213 South Bois D Arc Street (~$75,000) – This building is finished-out and is temporarily being used as office space for the Forney Arts Council. This building has also been approved as a Visitors Center but is expected to undergo major construction to allow more space in the building located next door at 215 Bois D Arc Street. A proposed future restaurant at 215 would require the use of the back portion of the 213 building, according to city officials, and will be used as build-out space for restrooms and a kitchen. The front portion of the building will remain the Visitors Center or potentially leased out to a future retail business.
215 South Bois D Arc Street (~$300,000) – Currently, the building is gutted and vacant. The exterior was also recently renovated by city funds. There was also interior structural work already completed. The funds will be used to install plumbing, electrical, HVAC, a ventilation system, and a grease trap. According to city officials, a restaurant has shown interest in this space and would be responsible for the finish-out of the space.
The remaining $1.2 million from the bond will be used in the “purchase of targeted buildings in downtown Forney,” states the project list. “This amount will purchase approximately 3 targeted buildings depending on final negotiations.”
An attached projected schedule of events states, if the deadlines are met, the closing and delivery of the bond funds could be in October of 2013.
The Forney EDC previously presented the project list for the bond in March of 2013 to the Forney City Council. The council ultimately chose to send the bond and its project list back for review by the EDC Board and asked for a prioritized project list.
On April 18, 2013, the Forney EDC Board of Directors unanimously approved the new project list which includes approximately $500,000 for renovating existing city and EDC owned buildings and another $1.2 million for the purchase of additional buildings in downtown Forney.
The City Council approved the resolution and project list and the resolution was officially read for the first time. The second reading of the resolution is planned for the September 3, 2013, City Council meeting.
Forney Economic Development Corporation project list for proposed $2 million sales tax revenue bond:
211 South Bois D Arc Street (~$125,000) – This building is currently gutted and vacant. The funds will be used to install plumbing, electrical, HVAC, and minimal finish-out of the space to accommodate a future business.
213 South Bois D Arc Street (~$75,000) – This building is finished-out and is temporarily being used as office space for the Forney Arts Council. This building has also been approved as a Visitors Center but is expected to undergo major construction to allow more space in the building located next door at 215 Bois D Arc Street. A proposed future restaurant at 215 would require the use of the back portion of the 213 building, according to city officials, and will be used as build-out space for restrooms and a kitchen. The front portion of the building will remain the Visitors Center or potentially leased out to a future retail business.
215 South Bois D Arc Street (~$300,000) – Currently, the building is gutted and vacant. The exterior was also recently renovated by city funds. There was also interior structural work already completed. The funds will be used to install plumbing, electrical, HVAC, a ventilation system, and a grease trap. According to city officials, a restaurant has shown interest in this space and would be responsible for the finish-out of the space.
The remaining $1.2 million from the bond will be used in the “purchase of targeted buildings in downtown Forney,” states the project list. “This amount will purchase approximately 3 targeted buildings depending on final negotiations.”
An attached projected schedule of events states, if the deadlines are met, the closing and delivery of the bond funds could be in October of 2013.