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Second business to develop in Stockdale Industrial Park
STOCKDALE -- The Stockdale Industrial Park, located off U.S. 87 in Stockdale, soon will have a second tenant.
According to Stockdale Economic Development Corp. (SEDC) President Frank Bain Jr. after the July 17 SEDC meeting, a 3-acre tract, located next to St. Mary’s Catholic Cemetery, has been sold to Oscar Cisneros. Initial plans are for the establishment of a warehouse for automotive purposes. This business will be the first to be located on the new road -- an extension of Wheeler Street -- to be built by means of a U.S. Department of Agriculture Rural Development loan.
With the sale of the 3-acre tract, the SEDC board elected to focus on the plugging of seven to nine abandoned oil wells, with three of these wells “critically placed” in the marketing of the park. Bain estimates these wells were abandoned in the 1970s or early ’80s.
The estimated cost of closing one well is $6,000 to $12,000.
Another option for using the proceeds of the land sale, Bain said, was consideration of a lump-sum payment to the city of Stockdale for a loan to purchase the industrial park. Currently, the board is making payments of $1,100 per month to the city, with the outstanding balance currently estimated at $98,000. Bain said the land purchased is more valuable today, due to the addition of infrastructure. In turn, the land tracts are more marketable.
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