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Eagle Ford: SEDC still discussing abandoned wells
STOCKDALE -- The directors of the Stockdale Economic Development Corp. (SEDC), in preparing their 2012-13 budget, set aside funds for the proper closure of abandoned wells within the city’s industrial park.
According to SEDC President Frank Bain Jr. after the Nov. 13 SEDC meeting, the directors have prepared the budget and will present it to the city council next month.
In the budget, the SEDC anticipates its share of the economic development sales tax to amount to $72,000 and to receive an additional $80,000 for the sale of acreage in the industrial park, located off U.S. 87 in Stockdale.
Among its expenditures are:
•$50,000 for the closure of oil wells abandoned in the 1970s or early ’80s;
•$26,000 for debt service to the city -- $1,000-per-month payments, plus an additional advance payment of $14,000 as requested by the city. This is to repay the city for the acquisition of the land for the industrial park.
According to Bain, the SEDC’s outstanding balance totals approximately $97,000.
During the “president’s comments,” Bain outlined progress made by the group regarding the closure of the abandoned oil wells.
The SEDC has located and targeted five to six wells for closure. Discussion with the Texas Railroad Commission has highlighted alternatives for proceeding, including:
•Apply for assistance from the Railroad Commission to plug at least three of the six wells;
•Identify the methodology needed to be in compliance with the state for the closure of these wells.
•Identify technical support the group can receive from the Texas Railroad Commission, if the SEDC proceeds without state funding.
Also during the meeting, the directors approved allowing the city of Stockdale to use the former AT&T building, located near the industrial park in city park No. 2, to store city equipment.
**In attendance: directors Frank Bain Jr., L.H. West, Gary West, Polly Stryker, Ginger Coleman, and J.C. Hrubetz, and Stockdale City Manager Banks Akin.
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