UAM – UA Board Approved Sale of 80+ Acres to Industrial Prospect
April 24th, 2014 by
At a special called meeting of the University of Arkansas Board of Trustees held Tuesday afternoon in a conference call, the board approved the sale of 80.99 acres to a Bio-fuel industry out of Texas, and an additional 3.5 acres to the Monticello Economic Development Commission to build an access road.
Sources indicate that the proposed industry will produce bio-fuel pellets to be used in the energy industry.
Specific details have been left out of public comments, due to confidentiality requirements. Information will become available in negotiations are finalized and the deal is completed.
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So if there is any conflict of interest, the public has no way of objecting? If the action creates a greater tax burden on the taxpayers of the county or city, there will be no way to object if the arrangement gives the company a tax free ride for 20 years or fails to provide a certain number of jobs. Or what if the company fails to uphold the agreement? What recourse do taxpayers have?
i don’t know why this commission must operate in secrecy since it uses public money it should be open to public scrutiny.