El Dorado Mayor Frank Hash wrote in an e-mail Friday, that he is withdrawing efforts to purchase property south of town.
“At this time I’m withdrawing my current efforts to purchase the Pilgrim’s Pride property; therefore, no immediate meetings will be necessary,” Hash wrote.
“After additional consultations with our economic development agency (the El Dorado Chamber of Commerce) and in consideration that our economic development revenues need additional time to replenish themselves, possibly this is not the best time to consider additional obligations,” he wrote.
During a meeting of the El Dorado Works board last week, Hash presented an idea to purchase the 49-acre plot of land at 1902 S. West Ave. where Pilgrim’s Pride operated for a number of years.
“I’ve ask the chamber to develop a contingency plan for possible implementation of the Pilgrim’s Pride property should any economic development opportunities present themselves in the foreseeable future,” Hash wrote.
During the El Dorado Works Board meeting, Hash said Pilgrim’s Pride was offering to sell the site to the city for $2 million. Hash also said that the property was valued at the Union County Assessor’s Office at $12 million and was on the market a year ago for $10 million.
Owners of the plant had been contacted by the chamber and El Dorado Festivals and Events to determine if the lot could be used for parking when the Murphy Arts District kicks off it’s grand opening Sept. 27 through Oct. 1.
“Now that we know the property is much more affordable than previously thought, such a contingency is only prudent. From these latest discussions we have obtained free use of the parking space related to be property should such be needed to support future large entertainment venues,”Hash said.