Tuesday, May 26, 2015

COSADC Board to Hear Sales Tax Declined 5.35%

After forty two months of increases (on a same month basis) City of San Angelo sales taxes finally fell short.  April 2015 sales taxes fell nearly $50,000 from April 2014.  The oil boom may return but San Angelo has one definitive sign of decreased economic activity, just in time for the opening of the new Marriott Courtyard.   

The Development Corporation Board will consider the sale of fire damaged space formerly occupied by MedHab LLC.  Sunbelt Construction LLC will pay $100,000 for the building at 2009 W. Beauregard.  Michael Biggerstaff's Sunbelt Construction shows a 2001 W. Beauregard address.  Documentation in the board packet indicated losses of $650,000 from the fire and no definitive cause.

The Board will discuss economic development agreements with Hirschfeld Energy and MedHab LLC during an executive session.  An employment update showed MedHab with three employees.  Over three years ago City Council provided MedHab a $3.6 million economic development package hoping for 227 jobs, with 85 of those jobs in Phase 1. 

We'll see what else is revealed in tomorrow's COSADC board meeting.

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