Midland Development Corporation Negotiates Energy Tower Contract 9/16/13
CBS 7 News
September 16, 2013
Today in a brief meeting, the Midland Development Corporation approved negotiating a contract with the City of Midland for the Energy Tower project and the MDC will be shelling out up to 10 million dollars over the next 10 years.
The Midland Development Corporation announced today, a contract that will cover infrastructure improvements deemed necessary for the project.
The MDC has decided they will pay up to one million dollars per year for changes over the next ten years with a cap of 10 million.
The first priority for funds is water, sewage, electric and gas.
Second, street and traffic upgrades and thirdly, parking facilities.
MDC Chairman Laura Roman says their goal is to make Midland a powerhouse in the business world.
"A project like Energy Tower obviously promotes that making a strong downtown building the values of the businesses down here making it truly the foremost business district of West Texas," says Roman
Yet still, there has been plenty of controversy regarding the project as a whole.
In fact, Mayoral Candidate Dan Anderson wants to reevaluate where taxpayer money is going if he's elected to office.
"The first thing before beginning things, is ending things like the city giving out money to developers of any kind," says Anderson.
But he contract has some flexibility written into it.
"If Energy Tower ends up being smaller project than what it's proposed right now, we're scaling our incentive back with the City of Midland based on that," says Roman
Today's decision was only to negotiate and execute a contract with the City of Midland.
The Economic Development Agreement will go before City Council tomorrow in a special session.