MFEDC approves land sale for unnamed ‘national building materials company’
The Marble Falls Business & Technology Park, on Innovation Loop on the north end of the city, could be getting a new resident soon. The Marble Falls Economic Development Corporation recently approved the sale of 7.54 acres in the park to an undisclosed “national building materials company.” File photo
The Marble Falls Economic Development Corporation Board of Directors recently approved a $565,000 land sale for 7.54 acres of property within the Marble Falls Business & Technology Park. The contract, yet to be signed by both parties, would see an undisclosed “national building materials company,” get the property.
The EDC approved the deal during its regular meeting on Wednesday, Dec. 3. Once the buyer signs off they will have 180 days to finalize the purchase, pending the results of a feasibility study and construction design.
“Construction is a critical industry for the community and accommodating another provider in the area is in alignment with the EDC’s mission,” EDC Executive Director Christian Fletcher told DailyTrib following the Board of Director’s decision.
The identity of the building materials company will remain undisclosed until the deal is set in stone and the project moves forward.
The 300-acre Marble Falls Business & Technology Park, located on Innovation Loop on the north end of the city, was acquired by the EDC in the late ‘90s with the idea that it would help attract certain kinds of business to the city, like light manufacturing and assembly facilities; professional offices; and supply depots.
What is the Marble Falls EDC?
The EDC is a nonprofit, semi-governmental organization tasked with facilitating economic growth and development in the city of Marble Falls. It is led by a board of seven directors, each appointed by City Council to their positions, and managed by an executive director. The board meets on the first Wednesday of each month to deliberate on policy, business deals, and to receive updates on the city’s economic activity.
The EDC is funded by a half-cent sales tax collected from transactions within Marble Falls city limits. The funds collected can only be used for the retention, expansion, attraction, and development of business and prosperity in the city.
The current Marble Falls EDC Board of Directors is made up of Board President Steve Reitz; Vice President Mark Mayfield; Director Ryan Nash; Director Dave Rhodes; Director Lindsay Plante; Director Judy Miller; and Director John Packer, who is also mayor of Marble Falls.