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Gibson Energy makes in-kind offer to SEDC
Stockdale Economic Development Corp. President Frank Bain Jr. (left) and Gibson Energy-Keeton Services KSI representative Ralph Griswold listen attentively to the proceedings April 22, which allow for the expansion of Gibson Energy within the Stockdale Industrial Park.
It’s déjà vu for the Stockdale Economic Development Corp. (SEDC), as they met for the second time in two weeks to discuss expansion for one tenant of the city’s industrial park -- Gibson Energy-Keeton Services KSI.
Ralph Griswold, representing Gibson Energy, met with the SEDC board April 22 to present the company’s proposal.
The board heard Griswold’s presentation behind closed doors. When they reconvened into open session, the directors approved a motion to sell an additional 0.635 acres to Gibson Energy-Keeton Services KSI. The in-kind transaction requires Gibson Energy to provide $20,000 in infrastructure improvements -- a sewage line -- in the Stockdale Industrial Park. This line will serve the properties on the west side of Business Park Avenue.
With this latest transaction, Gibson Energy’s total acquisition is 9.719 acres at the north end of Business Park Avenue, at a cost of $70,000, including cash and in-kind service.
According to the Feb. 11 SEDC meeting minutes, Gibson Energy’s plans include a facility of approximately 3,000 square feet, upright fiberglass water tanks, and parking space for “rolling stock and equipment for mixing and hauling the fluids they supply their clients.”
Griswold anticipates construction to begin in 30 days.
Also during the April 22 meeting, the board heard a report from Stockdale City Manager Banks Akin that the oil wells abandoned in the 1970s and early ’80s have been closed by the Texas Railroad Commission.
Closing the abandoned wells has been one of the goals and objectives of the SEDC directors since November 2011. The group budgeted $50,000 for the well closures; the closure allows for the marketing of additional acreage in the park.
Also in attendance: Stockdale EDC President Frank Bain Jr., directors L.H. West, Polly Stryker, Gary West, J.C. Hrubetz, Roger Armstrong, and Ginger Coleman; and SEDC Administrator Johnny Stahl.
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