The Brownfield Industrial Development Corp approved an incentive payment of more than $50,000 Monday to reward local company Guar Resources, LLC for its growth over the last year.
As per the company’s original incentive package, the BIDC board will recommend to the City Council that a payment of $56,000 be made to the Guar processor located on the railroad tracks on the city’s northwest side. The company added 28 new jobs to qualify for the incentive of $2,000 per full time employee.
In other business, the board approved a $50,000 allotment requested by Mayor Tom Hesse to cover the costs of planning and engineering for upgrades of the city’s youth baseball and softball fields complex.
The six-field facility on the southwest side of Coleman Park was built in the ‘50s, according to Hesse, who showed the board photos of badly outdated and deteriorating buildings and amenities. He told the board the city will obtain loans or bonds to fund the upgrades, then service the debt using Hotel Occupancy Tax (HOT) funds and the city’s general funds if overages occur.
Article courtesy of Brownfield News