KEDC expands Synergy Park with 60 acre addition

Synergy Park is slated for yet another land addition.

Kilgore Economic Development Corporation board of directors approved a contract last night authorizing the purchase of approximately 60 acres adjacent to the industrial park for $4,500 per acre.

The property is in the G.H. Tutt Survey, east of Elder Lake Road and the intersection of Enterprise Street and is within the proposed 544- acre annexation area bordering Synergy Park to the west, Norris Road to the east, Spinks-Chapman Road to the north and the city limits to the south.

Bill Adamson, board president, said he was approached by Lynn Horton, property owner, about purchasing the land and the selling price was reached through months of meetings.

Amanda Nobles, KEDC executive director, said the property is farm and ranch land and has no buildings on it. The current property owner will retain mineral rights and continue operating a producing oil and gas well on the property.

According to Nobles, development of the property would be inexpensive because two existing roads are in proximity and infrastructure would be easy because lines already exist along the roadways.

"I feel like we are fortunate to get this property and it will be a great addition to the park," J.T. Roberts, board treasurer, said. "In the long run this is going to be an opportunity and an excellent decision."

The purchase of the property will increase the size of Synergy Park to about 735 acres.

City council is expected to approve the purchase tonight at the regularly scheduled meeting.