EDC gets OK to buy Cazad property
WYLIE (March 12, 2008) – The Wylie Economic Development Corporation has been authorized to purchase another plot of land that may be used to entreat new business to the area.
Sam Satterwhite made the proposal to the City Council meeting Monday night, and Council voted unanimously in favor of the purchase, a .266-acre tract known as Lot 8, Railroad Industrial Park. The purchase will include a 3,900 square-foot facility.
Council further authorized the WEDC to enter into debt in the amount of $180,000 for the property; Satterwhite said the loan will be carried by Capitol One at a 10-year fixed rate. The property is currently owned by Joseph M. and Karen D. Cazad, and the total purchase price is $200,000.
Satterwhite reminded those present that the WEDC owns two other properties in the area. The first is a .92-acre tract with frontage on SH 78 that was purchased from Don Hughes, and the second is a .31-acre tract purchased from Prime Kuts Distributing, Inc. The WEDC leases two facilities located on the Hughes tract and a third facility located on the Prime Kuts tract.
