MDC Amendment Palooza Part II
According to the MDC May 28, 2010 agenda:
- Consider a resolution authorizing the execution of an amendment to the economic development agreement between the Midland Development Corporation and Permian Plaza, LLC.
- Consider a resolution authorizing the execution of a second amendment to the economic development agreement between the Midland Development Corporation and Trace Engines, L.P.; rescinding resolution number ED-0142.
We know that the Council sent the MDC back to the drawing board on the Trace Engines amendment, but why is Permian Plaza LLC (aka Basic Energy) seeking an amendment just one year after executing an agreement?
By my count, if an amendment is proposed to the Permian Plaza Project, then all of the private entity Economic Development contracts currently on the books have been amended.
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8 Comments
Maybe a smidgen of hyperbole...
This would make 5 potential amendments from the MDC this year, leaving Apache and who else? FiberRod? Reliant Holdings? I think BCCK is done.
It is hard to say because the MDC hasn't updated their list of incentees since their 2007-2008 annual report.
Lord , Lord, Lordy ! I came here to post but can not remember what the topic was ! A "smidgen of hyperbole" !( great name for a rock band) .. I may post later , after I'm through laughing .
Looking back, Reliant was canceled, so the only contracts that haven't been offered for amendment, and are still in force, are FiberRod and Apache.
The Fiberod contract was amended last April according to the archived council agendas on the city's website.
"Smidgeon Of Hyperbole" The new romantic comedy starring Meg Ryan and Ton Hanks .
Looking at the MRT article at the time for FiberRod, their amendment was to extend the contract until July 2009. Amendment and all, it might be completed by now.
OK, so with the exception of Apache, it seems amendments have been proffered for all the outstanding incentees.
I'd (tm) "Smidegon of Hyperbole," but there are already over 53,500 Google references for it. On the other hand, "ChamberMath" (tm) has 6 Google hits, all Walsingham.
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"By my count, if an amendment is proposed to the Permian Plaza Project, then all of the private entity Economic Development contracts currently on the books have been amended."
That is hyperbole, right?
I know the ink isn't dry on Apache yet, but that hasn't been amended. Should Basic and Trace be amended, that would bring the total to five or is that count too low? Either way, they have more deals out than five or six, right?