CDC offers not related
Submitted by crecord2010 on Tue, 08/19/2014 - 12:41pm
A clarification and correction is in order concerning an article in The Record last week about Cuero Development Corporation.
The article focused on recent offers to purchase warehouse and land owned by CDC.
By way of clarification, there was an offer from GeoSouthern Holdings to purchase a 35,000 sq.ft. warehouse and its 3.9 acres. Cuero Development Corp. offered to sell that warehouse to GeoSouthern for $625,000.
In a completely separate offering, CDC offered to sell John Post 11.89 acres of land for $200,000.
Those two offerings were not connected or related.
Unfortunately, the article published last week gave the impression the two offerings were related.
In a meeting with CDC board members last week, it was explained CDC had been advertising the warehouse for sale for some time. The board received an offer from GeoSouthern to purchase the warehouse.
That offer is pending and contingent on an earnest money contract from GeoSouthern.
Board members also explained that builder John Post has been working with CDC for several years on the purchase of the 11.89 acres located next to Pebble Ridge Estates and near the warehouse. CDC had an earnest money contract from Post before the most recent warehouse sale offering.
According to CDC executive director Pat Kennedy, both the warehouse and 11.89 acres had previously been listed for sale on the CDC website but were removed in May.
It was shortly after that the CDC received an inquiry about the warehouse and the 11.89 acres from GeoSouthern Holdings.
Motions approved by the CDC board made it clear the two pieces of property were not connected and were being acted on separately.
GeoSouthern Holdings’ George Bishop, a resident of DeWitt County and commercial property owner in Cuero, expressed concerns about the price and availability of the two pieces of property.
CDC board member Richard Weber said, “Everybody on that board understands how important Mr. Bishop has been to this community. How important GeoSouthern has been to this community. He has given money to a lot of very important organizations in this community. I want nothing more than to be cooperative with Mr. Bishop and meet his needs.”
Originally, the warehouse was a part of Cuero Industrial Foundation, a non-profit corporation chartered in 1957. At one time the foundation had 242 acres in Cuero Industrial Park located adjacent to Hwy. 87 South.
In 1981-82 the park attracted Crossroads Canning Company, Walmart and Antler’s Inn.
In 1994 CIF built the warehouse to attract industry to Cuero. In 2011 the warehouse building was sold to Cuero Development Corporation and City of Cuero.
Cuero Industrial Foundation converted to a non-profit foundation in late 2013.
— Clarification and correction
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