OCR Text |
Show Committee chooses developer CEDAR CITY The Cedar City Industrial Park Committee will recommend to the City Council that the Price Industries Corporation be selected as the private developer for the Cedar City Industrial Park. After looking at several different developers, the committee decided to go with the Price Company at its meeting Monday. The final approval, however, lies with the City Council. "We shouldn't waste any more time," chairman Paul Whetman said. "I hope we can move ahead with this development plan." The actual developing will be done by the Company, which is a real estate development subsidiary of Price Industries, In-dustries, and is ranked by Mall Monitor as the 24th biggest development company in the country. City Manager Joe Melling expressed concern at the meeting about recent legislation introduced nationally to do away with Industrial revenue funding which would concern a iot of developers; however, the Price company com-pany is a large enough firm that it wouldn't severely hamper their project. Speaking for the City Council, Harold Hiskey told the committee the Council is willing to approve bonds, if necessary, for development to come into Cedar City which will create new jobs. "Let's face it, with interest rates the way they are, we're not going to get some type of concession," Hiskey commented. Before the Price company will be contacted, the committee will review the contract to negotiate further, and the Council will have to give its approval. |