HomeMy WebLinkAboutBusiness Park Development 4
WILLIAM D. FITCH
Investments — Management
2108 SOUTHWOOD DR. OFFICE (409) 693.9112
COLLEGE STATION, TEXAS 77840
February 9, 1987
All Directors:
College Station Economic Development Foundation
College Station, Texas
Dear Sirs:
The purpose of my letter is to personally inform you that I have
signed, without change, the contract between the Economic Development
Foundation and W. D. Fitch, and delivered same to Mr. Dennis Goehring
at the Economic Development Foundation office last Friday (February 6,
1987), enclosing a copy of my letter of transmittal and acknowledged
receipt by Mr. Goehring.
I am surprised to learn that several of the Foundation Directors
had not seen the contract, and decided to take it upon myself to send
you copies for your examiniation. I believe that all of its points
which needed clarification have been resolved in acceptable manner.
As you may be aware, we have already completed plans for the
water line extensions to the 200 acre Business Park, which the City
Council approved as an alternative to a line at the Highway right -
of -way; we expect to complete this line by mid - March.
This cooperative gesture will serve to expedite the construction
of improvements by me to the Business Park site, at no increased cost
to the City.
It is certainly my hope and expectation, that at last, after years
of uncertainty, we can proceed diligently and jointly with our efforts
to expand our local economy.
Since I seldom have opportunity to meet with the Foundation's Board,
I will try to keep in contact by occasional reports,directly to you, of
significant developments related to our joint efforts.
Page 1 of 2
I appreciate the patience and cooperation you have extended me over
the past several months, and know you share my optimism for the future
of College Station.
Sincerel
a;X,
W. D. itch
P.S. I am enclosing a review of some encouraging recent events which make
1987 look like the year of the economic turn - around.
Page 2 of 2
WILLIAM D. FITCH
Investments — Management
2108 SOUTHWOOD DR. OFFICE (409) 693-9112
COLLEGE STATION, TEXAS 77840
February 6, 1987
Mr. Dennis Goehring, President
College Station Economic Development Foundation
1300 Jersey
College Station, Texas 77840
Dear Sir:
Attached or enclosed herewith, are three signed and notorized
copies of the contract as submitted for my approval by this date.
Enclosed also, are three copies each of the exhibits A, 8, C -1
C -2, D, E, & F, as called for in the contract.
Let me express my appreciation for the effort and patience required
to accomplish our mutual goal in an equitable manner, to serve the best
interest of economic development in our city.
The property descriptions are those submitted by our engineers, who
have coordinated their descriptions and should be correct.
If the Foundation so desires, I will have the location of one of the
drill sites moved to the corner of the 65 acre tract which the Foundation
is retaining, by having my engineer write a new description and make revised
plats of the drill sites.
Please sign acknowledgementof delivery of these signed contracts to
your office.
Sincert,
4i
W. D. Fitch
Receipt of Contracts acknowledged by N i' . -�_
Date: /* G, /9' Time: y'0d o•°is,.
C PY
0
Recent Developments Since Fall of 1985
Area Progress Corporation, having purchased the undeveloped land from
Southwood Valley and W.D. Fitch, began a new residential development, Section
25, consisting of 150 lots; development of an area of 27 large estate type lots,
Section 26; and, a Fraternity Row project at the west end of Southwood Valley.
Each of these projects will be reviewed separately.
It is a very significant indication of the revival of sales in Southwood
Valley area that our lots in the new developments are selling at the rate ex-
pected, and the following listed large sales justify confidence for 1987 sales.
In September, 1985, we "sold" to Humana Hospital 25 acres of the area which
we expect to see grow into a Medical Complex, which will create income and jobs
in our end of town.
To summarize the effect of our sales expected in 1987:
LOCATIONS JOBS
Humana will open a hospital with - 200
Humana will opan a Medical Office
Building with - 180
U.S. Post Office will open - 80
Hospital Corporation of America - 80
Wal Mart Store - 160
Total 700
Also:
Fraternities (contracts)
(Maybe 8)
50 New Homesites sold