BY LIZZY SPANGLER
The cost
What’s next
cash on hand was right at $30 million, just a little over that,” Waggoner said. Waggoner said by the end of October, the CIDC is projected to have between $42 mil- lion-$45 million in cash, and the land purchase would have likely been paid for with a combi- nation of cash and bonds. Council Members Harry Hardman, Marsha Porter and Howard Wood voted against the industrial park expansion, while Maddux and Yancey voted for the purchase. The CIDC board vote was 6-1, with Wood, a board member as well, voting against it.
The CIDC is a nonpro t development corpo- ration that operates under the supervision of Conroe City Council and is funded through a half-cent sales tax, according to its website. “That’s what the CIDC board oversees is that revenue collection along with the develop- ment of [Conroe Park North], which is [to] sell and [do] recruitment of the land we have out there,” Waggoner said. While City Council oversees the CIDC, Wag- goner said its budget is separate from the city’s. “We are in a very strong nancial position within the CIDC where, at the end of June, our
Waggoner said the next steps for the CIDC will be discussed at the board’s next meeting Sept. 14— which was after press time—and the CIDC will work with City Council to get direction. Wood said he sees value in the park’s expansion but would like to see other economic development initiatives like the redevelopment of vacant buildings. Porter also said she would like to see a focus on lling vacant buildings. “We have several vacant buildings, lots, shopping centers, etc. I’ve voiced an opinion that I’d like to see that addressed. Are there creative things we can do to attract di erent types of potential companies?” Wood said. Hardman said he believes there are opportunities for smaller investments rather than one big investment. “I think there’s a lot of opportunities to acquire property closer in the city,” he said. “You look at some of the major buildings that have been vacant for a while; we can potentially repurpose those and bring in new businesses more internally.”
The CIDC is funded by $0.05 sales tax.
It had about $30M cash on hand in late June.
The vote failed 3-2 to expand the park by 410 acres for $32.8M.
Conroe Park North was last expanded
in 2018 by 610 acres .
SOURCES: CONROE ECONOMIC DEVELOPMENT COUNCIL, CONROE INDUSTRIAL DEVELOPMENT CORPORATION COMMUNITY IMPACT
YOUR LOCAL HEATING & COOLING SPECIALIST Providing Excellence on a Budget COOLING WE WORK WHEN YOUR AIR DOESN’T
SPECIAL OFFERS FOR COMMUNITY IMPACT READERS ONLY SERVICE CLUB MEMBERSHIPS $129 First System $99 for Each Additional System FULL YEAR CALL FOR DETAILS! Expires 10/20/23. Limit one coupon per visit. Cannot be combined with any other offer or promotion. Must be redeemed at time of visit. Residential homeowners only. Expires 10/20/23. During Regular Business Hours Monday - Friday 8 - 5 p.m. $89 SERVICE CALL WAIVED WITH REPAIR
Financing available with approved credit! SINCE 1992
SEE EVERYTHING THE RESERVE HAS TO OFFER
25% OFF
Repair or Replacement WE KEEP YOU COOL!
New System Installs Cash or Check Limit one coupon per visit. Cannot be combined with any other offer or promotion. Must mention this add when scheduling for a full system replacement for coupon to be valid. Expires 10/20/23. No Exceptions
WWW.REIDSACANDHEAT.COM CALL NOW! 281-351-9922
*Restrictions Apply. Home sale pridng varies. Additional costs not shown in Ad. All information, including but not limited to pricing, availability, features, and specifications, is subject to change. Contact the community office for more details, accurate pricing, and a comprehensive understanding of the terms and conditions associated with home purchase. Equal Housing Opportunity.
TACLB012399C
23
CONROE MONTGOMERY EDITION
Powered by FlippingBook