BEAUMONT — With the sale of Ford Park off the desk, a consultant of Renaissance Improvement — the lone bidder for the property, has come ahead together with his take of the method.
An e-mail despatched to Port Arthur Newsmedia from Kevin Johnson, spokesman with Renaissance Improvement, supplied voice to the saga on what was more likely to develop into a horse racing complicated and extra.
“Our supply covers all excellent monetary tasks related to Ford Park,” the assertion learn. “Moreover, our supply contains monetary dedication to place one other $43 million in assured funds into the property over the primary two years. Our supply supplied a really detailed timeline, together with itemized funding, for each enchancment, addition or repurposing challenge on the property.”
Johnson stated the Texas State Racing Fee on Thursday closed its open software interval and although Renaissance didn’t enter right into a contract with Ford Park, it submitted an software in addition to the $98,000 licensing price “with the assumption that we will get a take care of the county” as it’s dedicated to convey the challenge to Jefferson County together with some 400 direct and oblique jobs.
“In our supply we included a letter of assure from our monetary associate, stating the $65 million dedication over the primary two years,” Johnson stated. “We’ve already began discussing Part III of our growth plan, primarily consisting of the addition of a resort. This might infuse one other $30 million plus into the financial system instantly whereas creating nonetheless extra jobs.”
Fred Jackson, assistant to Jefferson County Decide Jeff Branick, stated earlier this week the choice to reject the bid was seemingly on account of statutory necessities not being fulfilled that means there was no written appraisal for truthful market worth, solely verbal, for the property situated off Interstate 10.