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April 14, 2014

More discussion set on development prospects

GREENVILLE — City officials are continuing to meet with several potential economic development prospects who may want to come to, or stay in or near Greenville.

Fresh on the heels of the announcement of a major expansion of Innovation First International, the Greenville Board of Development/4A Corporation is scheduled to meet to consider as many as nine projects, during a session starting at 9 a.m. Tuesday in Suite 804 of the Paul Mathews Exchange Building, 2500 Stonewall Street.

Innovation First International (IFI) announced last week that it has purchased 55 acres off of Farm-to-Market Road 1570, with plans to build a new 62,500 square foot expansion of its current business for more office space.

Like other prospects the expansion had been identified by a code name — Project Sprocket — as negotiations continued between the Board of Development and the business.

A part of Tuesday’s meeting, the board intends to convene 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.”

The potential economic development projects,,  which may be considered during the executive session, include projects Splash, Rounder, Retread, Rhubarb, Redevelopment-W, Shale-2, Sprocket, and Elevator-2.

Project Splash refers to the Canton-based Splash Kingdom, which has begun building the company’s fourth water park as part of the Greenville Towne Center.

The same projects, along with a project EDC Land, are also scheduled to be discussed Tuesday 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 sessions, it would return to open session in order to do so.

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