Nevada County Picayune and Gurdon Times Newspaper Archive

Council transfers land to Industrial Council for new industry

A new industry will be locating in the Prescott Industrial Park once a building has been constructed.

During its regular monthly meeting, held Monday, Sept. 17, the Prescott City Council transferred 10 acres in the park to the Prescott Industrial Development Corporation so the building can be built.

Under terms of the agreement, the property can only be used for industrial purposes. The corporation was given a warranty deed to the land, with the contract stating should the land not be used for the purposes so described, ownership would revert to the city.

Glen Vasser, the city's attorney, said this was the first step to get the prospect here.

He said the Industrial Development Corporation has secured funding to get the building built, and will then lease it to the company interested in putting in a factory there. In essence, the company will be paying the loans on the building.

Under the agreement, though, the company must employ between 30-35 people within three years of starting operation, or the building reverts back to the city.

Should the building revert to the city, however, the company would be given the first opportunity at buying it outright.

Ground will be broken on the facility Wednesday, March 12, at 10 a.m., weather permitting.

If everything works out as planned, Vasser said, the prospect will eventually own the building anyway. Regardless of what happens, though, the city is protected because the loans are in the industrial corporation's name.

The lease on the building is tied to a 15-year term, he said.

At the January meeting, the council had made plans to discuss rates for the rural water system. However, because Vasser had not received the modified rates from Little Rock, this couldn't be done.

Vasser said without these figures the rate ordinance can't be prepared.

"I've been trying to get the information so we can get going on the project," he said. "There's no need to have a public meeting until we have the rates, and there's no need to let the bids until we know the rate ordinance."

Some unexpected problems occurred with the easement situation, he said, which will take longer than expected to clear up.

The project won't be able to use all the right-of-ways on county roads as planned, he said, though some county road right-of-ways can be utilized.

There were also a couple of areas thought to have been cut from the project, but weren't.

These situations will have to be remedied before the project can begin.

Karen Ward tendered a letter of resignation to the council. The Ward family recently sold its home on Hale Ave. and will be residing outside the city limits.

As Ward was no longer in the ward she was elected to represent, she had to resign.

"The worst part of moving," she said, "is having to give up my seat on the council."

A vacancy will be declared in Ward 3, with the city taking letters and resumes of those interested.

The council will make its selection at its March meeting.