For the first time in five years City Council will take up MedHab's economic development agreement with the City of San Angelo. The item is slated for Executive Session. In return for a $3.6 million economic development package MedHab promised to provide up to 227 jobs within six years. Over two years ago MedHab President Johnny Ross reported the company hit a key milestone for ramping us San Angelo employment.
The contract is due to expire on January 1, 2019. Will the city ask for early cancellation, like the Mesquite Solar Project announced to great fanfare in 2014?
I'll venture the Development Corporation Board is itching to do something with money reserved for MedHab. Will they give it back to nonperforming MedHab?
Update 9-2-18: MedHab is pursuing a $3 million equity capital raise and already sold over $900,000 of new equity, according to an 8-20-18 SEC filing.
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