During the Tuesday, April 28 regular meeting, the Dublin Economic Development Corporation approved a $9,500 Community Improvement Grant for repairs to the city pool and Variable Rate Demand Industrial Development Revenue Bonds allowing for Frontier Feedlot to use the city’s tax exempt status to acquire a low-interest loan.
City directors Cory James, Cameron Ray and Kim Seider were present for the meeting and spoke on the need for the pool which is used by kids in the community and surrounding towns.
At the April meeting, the Dublin City Council approved the $58,500 for the repairs including replastering the pool, replacing sand filters (which have ruptured manifolds) and replacing/ repairing the electrical system (which has spots of corrosion.) The city is seeking a $300,000 low interest loan to for this project, purchasing a lot to aid in a water line replacement and repairing city streets following the completion of the TxDOT Patrick Street project. (That item will be considered in the May City Council meeting on Monday.)
Seider reported the hope is for the pool to be open Memorial Day with a community celebration on opening day.
Ray reported the work was being mostly done in-house and is being provided for but appreciated the assistance because it would aid in quicker repayment/ effective work.
EDC directors in attendance unanimously approved the amount. (Lanora Davidson, Darrell Curry and Sammy Moore were absent.)
The board also to allow for Frontier Feedlot to utilize the city and EDC’s tax-exempt status while it is acquiring a bond from the state of Texas to expand the dairy and install a device to capture methane for natural gas. The expansion will translate to up to 20 more jobs at the dairy/feedlot.
During discussion, bond counsel and a representative from Frontier Feedlot were present with it being assured the city and EDC are merely providing the means for the business to seek the low-interest loan while the letter of credit bank will handle the actual loan and financing.
Boardmembers present unanimously approved the agenda item.
Steve and Donna Hightower were also present to thank and update the EDC on the replacement of the downtown sign on The Corner Lot. Donna reported that she has taken training on the software for inputting items and they are also replacing the pole after they spotted rust at the base. She said delivery/installation of the sign should be at the beginning of May.
The directors also heard a request from Brad Allen who is seeking to develop a 38-acre plot north of town (next to Shamrock Apartments) into a subdivision named Emerald Ridge. Allen’s plans are to develop the property in two sections starting and build homes priced at $250,000 to $350,000 with lowinterest loans and little to nothing down so they could be more affordable to teachers and others who face more barriers in home ownership.
“A year or two ago, I got concerned that young people cannot buy a house,” Allen said. “Since 2007, people have been renting to constantly escalating prices and they are not saving (as most people do when buying a home) for their retirement years.”
Allen, partnered with his son, hopes to provide this opportunity while bringing more commerce and tax dollars to Dublin. He was at the EDC seeking assistance with the installation of water to the site which would allow him to begin the construction of the first 36 homes (projected at 12 per year). Allen said the process couldn’t be stopped and started because that would increase costs and could lead to potential problems with water stagnating at end points while waiting on the next connection.
Allen said the investment of $513,000 (brought from a bid) would be returned to the community within five years from the taxes and utility fees from new residents.
When asked, James said the lift station on that side of town could provide for 150 more residences.
EDC executive director Noah Cullis and board president Paul Bradberry both stated their appreciation for Allen’s plans and what it could do for the community but admitted they didn’t have that amount and would have to research what could be done or would be available to help in the construction of Emerald Ridge.
Bradberry said the board should carefully consider options but get an answer soon so Allen and his team aren’t having to wait on a response.