Berryville Expands Land Available For Industrial Use
Berryville, Arkansas is providing new opportunities to businesses that are seeking more land to expand or move their operations to this Northwest Arkansas city, in an effort to bring new economic development projects to town.
The Berryville City Council authorized the next step in financing the expansion of the city’s industrial zone at its Dec. 6, 2017 council meeting.
The Berryville City Council voted at that meeting to approve Resolution 1003, authorizing Mayor Tim McKinney to execute all documents on behalf of the city for the proposed purchase of real estate which will allow further expansion of Berryville’s new industrial park.
Mckinney presented plans to purchase approximately 120 acres of the Ansel Hutchinson Estate for the expansion. The resolution states that although the purchase would greatly benefit this expansion, the purchase cannot exceed $650,000, utilizing Amendment 78 by financing the purchase through a collaboration of local banks led by Cornerstone Bank.
The land was purchased for a price of $5,178 per acre, but was also bridged into another land purchase, allowing two adjacent parcels of land near the Ansel Hutchinson Estate totalling 160 acres to also be purchased for the same price sometime during the next three years.
(Article Source: Carroll County News, Berryville, Arkansas)