CULLMAN —
The Hanceville industrial development board received a large transfer of property at a specially-called city council meeting this week, in the hope of luring a new corporate tenant to the city.
The city council transferred 29 acres of city-owned land to the ID board at the meeting, placing the property in the board’s name in a transaction that involved no exchange of funds.
Mayor Kenneth Nail said the move is intended to square away the administrative side of an ongoing effort to recruit an industry to the site, located on Industrial Boulevard near the Louisiana Pacific plant just east of U.S. Highway 31.
“The city has had this property for several years, and we’ve kind of been waiting for an opportunity for the [ID] board to use it,” said Nail. “We’ve got a potential company that is very close to closing on an agreement to come here, and we needed to get this land turned over to the board before we can go any further.”
Nail declined to name the prospective tenant until city officials are certain the deal will go through.
“I hope we can do an announcement here in the next two weeks,” he said. “The ID board is having a meeting on this on Monday [August 6], and we’re trying to get everything taken care of before we can say much more.”
According to Nail, the land is valued at approximately $6,000 an acre — or about $175,000 for the entire parcel. The potential tenant is expected to require most of the acreage, although Nail said it’s possible some industrial land will remain after the transaction, if it happens, goes through.
* Benjamin Bullard can be reached by e-mail at bbullard@cullmantimes.com or by telephone at 734-2131 ext. 270.
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