For two years the City of San Angelo has not released information on Hirschfeld Energy's maintaining its employment targets under a $5.6 million economic development agreement. The original deal was with Martifer-Hirschfeld but Hirschfeld bought out Martifer's 50% share in July 2012.
Hirschfeld Energy's 2013 and 2014 performance under the terms of the agreement should be clear by now. The 2012 COSADC Annual Report stated:
COSADC and Legal staff are currently working with the company to determine the long range employment goals for the company and a schedule for repayment of any funds due.From city documents it appears Hirschfeld paid back the city $140,000. The question is what happens moving forward. Governor Rick Perry renegotiated numerous economic development agreements outside the light of day.
COSADC Director Roland Pena requested board members not reveal information about companies to the public. If a company is requesting public money sunshine should apply. That information should be openly and freely shared with the public.
COSADC's executive session did not report any changes to the city's agreement with Hirschfeld Energy. City Council will entertain their unstated action. I expect a public accounting in the future, if not at this meeting.
Update 3-7-15: Add two more Executive Sessions for City Council, their regularly scheduled meeting on 3-3 and a called meeting on 3-11. The Mayor recused himself and will not be at the called meeting.