By Brian Knox | Wise County Messenger
Decatur has moved another step closer to the creation of a business park off Farm Road 2264.
The city council Monday authorized the issuance of the Decatur Economic Development Corporation sales tax revenue bonds in the amount of $5.655 million to finance the costs of acquisition of land and construction of infrastructure improvements, such as extending water and sewer service.
The agreement authorized the sale of the bonds to Hilltop Securities. The bonds will be paid through sales tax revenue.
The Eagles Landing Business Park will be located at a 162-acre tract of land north of FM 2264, east of U.S. 81/287. The council gave the EDC its approval to purchase the property from Wise County Consortium LLC last October.
EDC Executive Director Thom Lambert said last fall that in order to attract companies to locate to the business park, the park needed to be developed prior to the companies relocating.
In separate action items, the city council approved the preliminary and final plats for the business park.
City Manager Brett Shannon said the council will be asked to approve replats of the property in the future.
“You will be seeing, hopefully, several replat applications over the next few months and couple of years as companies purchase part of that to relocate their businesses and industries here. This just gets the ball rolling,” he said.
Read original Wise County Messenger Article.
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