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Section A: General News


SEDC welcomes Fox Chapel Oilfield




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Wilson County News
June 26, 2013 | 2,028 views | Post a comment

STOCKDALE -- Members of the Stockdale Economic Development Corp. (SEDC) continue to make progress toward the construction of a building within the Stockdale Industrial Park to assist one of its tenants.

Fox Chapel Oilfield Services LLP is negotiating with the SEDC for a lease-to-purchase agreement in the industrial park, along with the construction of a building.

According to SEDC President Frank Bain Jr. after the June 18 meeting, the directors heard an update regarding a loan from the city of Stockdale in the amount of $130,000. This money would facilitate construction of a building for Fox Chapel. Metal Tech estimates construction costs of $200,000. The SEDC anticipates further funds from the sale of property in the industrial park.

Also, regarding the lease-to-purchase agreement of 4.32 acres within the industrial park, SEDC directors asked for legal counsel to review some of the clauses in the contract with Fox Chapel Oilfield Services LLP.

The directors also anticipate the sale of 6.45 acres of land located within the Stockdale Industrial Park to Randy and Linda Posey to be complete by the end of June.

In attendance: Directors Ginger Coleman, Frank Bain Jr., Roger Armstrong, and L.H. West and Stockdale City Manager Banks Akin.
 

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