Navarro County Economic Development Director John Boswell addressed historic tax credit and downtown incentive opportunities, Tuesday, June 4 at its monthly meeting.
Incentive programs for downtown developments and historic preservation are available through the state and federal governments.
Boswell encouraged individuals to look at the city's website or contact him for more information concerning the requirements and qualification opportunities.
Mayor Don Denbow discussed the 2018 executive summary. According to the report, the city has an unaudited general fund balance of $5.7 million, which is approximately 121 days of operating expenditures.
Corsicana maintained its ratings on the Standards and Poor’s and Moody’s index. Indicating the level of confidence in the city’s financial priorities and condition.
The mayor also reported that Emergency Medical Services operations didn’t cover expenses. The $264,000 shortfall was due to excess runs that weren’t paid for and personnel expenses.
All regular housing market, downtown and tourism reports were given.
Navarro County Pct. 3 Commissioner Eddie Moore talked about the need for infrastructure and road repair and maintenance as part of economic development.
“If we want people to buy the houses they have to be able to get to them,” said Moore. “We need to have more money and a higher tax base in the county to have the ability to fix the roads. The roads are horrendous right now due to the rains, and as commissioner that is my cross to bear.”
The Navarro College Board recently denied tax abatements to Clean Vision Solar, LLC who proposed a $120 million investment in Navarro County.
The Clean Vision Solar project would encompass 2,241 acres along Highway 22 and include the taxing bodies of Navarro College and Blooming Grove ISD.
Sam Moore, who represented Clean Vision Solar, LLC at that meeting, said the project’s future was in doubt without the abatements.
After the meeting, to answer some of the questions brought to the forefront during the April meeting where the issue was tabled and again in May when the agenda item failed due to a lack of a second during from the Navarro College Board of Trustees, Boswell said that work continues to be done with Clean Vision Solar, LLC.
The project was projected to create two jobs, revised from five full-time jobs after completion of the project.
There weren’t any public comments at either the April or May meetings of the College Board in regards to the project.
Boswell said he contacted Blooming Grove ISD officials after the College Board’s decision to deny the abatements.
Blooming Grove ISD can use Chapter 313 incentives in the state of Texas to attract new businesses by offering them a 10-year limitation on their appraised property value for a portion of the school district property tax. In exchange for the value limitation, the business agrees to build or install new property and create jobs in the school district.
“There is a high demand for solar farms in Texas,” Boswell said.
The next meeting of the Economic Development Partnership group will be July 2 at the Nancy Roberts meeting room inside the Corsicana Public Library, 100 N. Twelfth Street in Corsicana.