Gainesville — Gainesville City Council actions included the approval for some economic development initiatives at Tuesday’s nights regular council meeting.

The council approved a measure taken by the Gainesville Economic Development Corporation on Jan. 28, for the purchase of 140 acres of land located south of FM 1202 and CR 444.

GEDC Executive Director Kent Sharp said the property is planned to be used for an industrial park. Sharp also noted that with the Burlington Northern Santa Fe Railway along the eastern boundary, there is a possibility of rail service for the site.

The property is located in the Gainesville Independent School District. GEDC is expected to request voluntarily annexation of the property into the city of Gainesville.

The council also completed first reading of the Gainesville Economic Development Corporation Board’s approval of a revenue sharing agreement between the GEDC and Turner Forest Industries (TFI).  

TFI is a Texas-based wholesale lumber, plywood, and rough-framing materials supplier.  TFI owner John V. Turner requested to participate in the GEDC sales tax rebate program and to relocate a sales office from Lewisville to Gainesville so that sales tax collected by TFI would benefit the City of Gainesville.  

For TFI’s type of industry, sales tax is calculated at the place where the order is taken.  The agreement provides for a rebate of fifty percent of the one quarter percent local 4B sales tax directly generated from qualifying sales paid to GEDC.  

No action was taken on this first reading in accordance with state law.  Second reading consideration by the City Council will be at the next regularly scheduled meeting set for Feb. 19.

Other city council actions included:

• Appointment of Meghan Ortowski, Laine Williams Wolf and Don Wood to the Main Street Board. Each member will service two years through Dec. 2014.

• Approval of a resolution directing publication of Notice of Intent to issue Combination Tax and Surplus Revenue Certificates of Obligations, in the maximum principal amount not to exceed $6,250,000.  

City Manager Barry Sullivan said the funds will be used principally for construction and renovation improvements, rehabilitation and equipping the city’s wastewater treatment plant.

• Adoption of an ordinance approving and authorizing the Greater Texoma Utility Authority (GTUA) to issue Contract Revenue Refunding Bonds, Series 2013, to refinance bonds issued in 2003 (Series 2003A and 2003B).  

The refunding bonds, in the amount of $1,610,000 includes cost of issuance and will provide the City a present value savings of $171,000 (11 percent).  Sullivan recommended approval of the bonds, and said the general rule of thumb for a refunding is a 3 percent or better savings is worth the refinancing.   

• Ordering the annual general election of officers for the city to be held on Saturday, May 11, for the purpose of electing councilpersons for Ward 1, Ward 2, Ward 4 and mayor.  

A special election was also ordered to elect a Ward 3 Councilperson to complete an unexpired term.

The Ward 3 position was appointed by the Council in June 2012 after the elected official moved outside the Ward.  City Charter requires that a position filled by appointment be placed on the ballot at the next annual election of officers.  

Early voting is set for April 29 – May 7 at City Hall at 200 S. Rusk St.  Election Day voting on May 11 will take place at the Civic Center.

• First reading of the Gainesville Economic Development Corporation Board’s approval to increase the amount of a previously approved matching grant for the Medal of Honor Park.  The increase to be paid by GEDC will match dollar for dollar up to a maximum of $60,000 on funds raised by the Medal of Honor Society from this date forward.    

In January 2012, GEDC pledged $150,000 for the park.  Mayor Goldsworthy said the new park is a “glorious project” that citizens will be proud of and it will be located at the “front door” of the city on I-35 and California Street.  

He expressed appreciation to the GEDC for their support of the project.  This was Council’s first reading of the two required readings under State law.  Second reading consideration by the City Council will be at the next regularly scheduled meeting on Feb. 19, 2013.