The Herald Banner, Greenville, TX

June 15, 2014

Development board talking about prospects

Herald-Banner Staff

GREENVILLE — City of Greenville economic development officials intend to meet this week to discuss and possibly take action on multiple potential business prospects who may want to come to town.

The Greenville Board of Development/4A Corporation is scheduled to meet to consider as many as 13 projects, during a session starting at 9 a.m. Tuesday in Suite 804 of the Paul Mathews Exchange Building, 2500 Stonewall Street.

The plan by Innovation First International (IFI) to purchase 55 acres off of Farm-to-Market Road 1570 to build a new 62,500 square foot expansion of its current business for more office space has been identified by a code name — Project Sprocket — as negotiations continued between the Board of Development and the business.

Project Sprocket is one of a dozen prospects the board may consider when it convenes under Texas Government Code Section 551.087: (1), which allows for “Discussion or deliberation regarding commercial or financial information that the governmental body has received from a business prospect that the governmental Body seeks to have locate, stay, or expand in or near the territory of the governmental body is conducting development negotiations; (2) Deliberate the offer of a financial or other incentive to a business prospect.”

Other projects include Splash, Rounder, Shale-2, Elevator-2, Focus-2,  Redevelopment-W, Downtown 4Star, Bucket, Float, Silverstone and Rhine.

Project Splash refers to the Canton-based Splash Kingdom, which is intending to open the company’s fourth water park as part of the Greenville Towne Center next summer.

The same projects, along with project EDC Land, are also scheduled to be discussed today under Section 551.072, which allows for ”Discussion with respect to the purchase, lease, or value of real property, when such discussion would have a detrimental effect on negotiating position of the Governmental body.”

Should the Board decide to take action on any of the items discussed under the executive session, it would return to open session in order to do so.