Business Requests CEDC Assistance

Developer Larry Parker spoke to the Canton Economic Development Corporation board concerning a new business and requested assistance on impact fees.

Parker said the company would employ more than 100 people, 18 to 24 months after it has opened.

"Our project will add to the tax role over $4 million consisting of site work including paving and parking of about $250,000 plus. The building will be $3 million plus and we will bring in furniture and equipment of $500,000 plus," Parker said.

He went on to point out that currently the property is zoned for agriculture, but when it becomes commercially developed property, "it will add over $300,000 to the tax role."

During construction there will be anywhere from five to 60 people working on the site at a time.

"We will create over 100 jobs, having an annual payroll projected of about $11 million, or a minimum of $9 million," Parker said.

He went on to say he has plans to request that the city either eliminate or provide assistance on the impact fees which have been quoted at anywhere from $70,000 to $100,000 on this particular construction project.

Parker said the building size would be approximately 40,000 square feet, located at State Highway 19 and Burnett Trail on approximately five acres.

The CEDC also approved the Community Enhancement Guidelines as presented by CEDC Director Mercy Rushing.

Rushing pointed out the funds would not be used for marketing or promotion.

She noted that the funds could, however, be used for historic preservation projects that use county and state historical guidelines in order to attract tourism within the city of Canton.

The following guidelines have been set for those wishing to apply for a Community Development Grant:

1. Be fixed asset expenditures (not for marketing or promotion).

2. May be Historic Preservation (using county & state historical guidelines) and Beautification Projects (aimed at attracting tourism) within the city of Canton.

3. May help create wealth for the community through increased taxes or job creation.

4. First considerations will be given to projects/programs within the Canton City Limits or ETJ (extraterritorial jurisdiction).

5. Considerations will be given to projects/programs that directly benefit the city of Canton.

Projects/organizations will be reviewed in February in order to allocate the funds in March.

There will be a public hearing held at a later date.

In other business the CEDC

-heard from Rushing on project updates-

a) installation of electric power to Industrial Park 4 is not complete.

b) announced that the water election passed.

City manager Andy McCuistion said the passing of this election means the CEDC is now allowed to fund the building of water wells and water towers.

"Since the citizens have supported that, we would like to put it in the budget and move forward with it," McCuistion said.

c) Rushing reported that she attended the ICSC Conference in San Antonio of the International Shopping Center in Texas.

There were more than 40 different vendors and retailers there, Rushing said.

"Most of them are on the fence with Canton. What they want to see is more rooftops," Rushing said. "That tells us we need to grow our community and we need to have more homes built in our community or within a 20 mile radius."

d) On the marketing study for First Monday Trade Days, Rushing said Ray Perryman and his group visited during the last First Monday looking at the grounds.

Aerial photographs were taken and will be shared to the CEDC board at a later date.

e) the city of Canton was approved for the Texas Capital Fund Sidewalk Grant.

Of eight applications turned in to the state only four cities will be funded.

"Out of those four, Canton received a number one in funding," Rushing said. "…We are in line for the funding."

Rushing said Phase one of the project will be the sidewalks on Tyler Street.

f) the entrance sign project is at the Texas Department of Transportation office, and Rushing said she is hoping to move forward on the project by December.

-accepted minutes from the October 13 meeting.

-approved the October 2009 financial statements.