KEDC earns A+ credit rating

Kilgore Economic Development Corporation was rated as an A+ EDC by Standard & Poor's rating.

"Not to many EDCs can make that claim," Mike Byrd, senior vice president of First Southwest Company, said. "Usually an EDC ranks one below the governing city."

Kilgore was also ranked as an A+ city, last month.

According to Burns, it is not easy to get a two-point rating hike from Standard & Poor's.

Concerning Synergy Park, the board approved renewal of a lease agreement with ESA Technologies for wireless maintenance on the derrick, for cameras and Synergy Center access.

The board also approved another change to the Kilgore Synergy Partners, LLC Partnership. KEDC holds 50 percent of interest. the remaining 50 percent was split between two share holders. Roger Gault, majority share holder - in the remaining half of the partnership - bought out Stephen Hundley.

According to Amanda Nobles, KEDC executive director, Perry Hall and Associates, Dallas realtors, have placed the park's second shell building in some advertising.

At North Kilgore Industrial Park, McKinnon Construction is finishing up parking lot work at the former Kennedy Gourmet building and the board has given the go ahead for a final building clean up. The building has been placed in the market as a food processing plant, but may be listed differently in coming months, so not to limit prospects.

The board also approved a resolution to issue an Industrial Revenue Bond for $7.5 million. The IRB will allow Bucyrus to borrow the money tax free. This is the second IRB issued through KEDC this year. No obligation falls to KEDC or to the city.

In other business BPI Compression has contracted to build a facility on Woodbine Street. The estimated investment is $500,000. KEDC will partici- pate by paying for the first 220 feet of sanitary sewer line extension. The city will pay for the remaining 200 feet of line. Estimated cost of the sewer extension is 12,500.