A few hours before the Blue Wahoos season opener at the Community Maritime Park, the Pensacola Community Redevelopment Agency Board will meet across the street at city hall.
There is only one issue listed on the CRA’s meeting agenda: an amendment to the economic development agreement with Hixardt Technologies, Inc. It would be the fourth such amendment.
During a recent city council meeting, CRA Chairman Brian Spencer informed his fellow board members that he was waiting to schedule a CRA meeting until he could communicate with Hixardt in regards to a further extension request on a property-for-jobs-and-development deal.
In 2011, the CRA provided property located at 120 W. Government St. to Hixardt for below-market-value in exchange for the company renovating the property and filling it with well-paid employees, thus bettering the CRA district. Since that time, construction costs have grown—and soil sampling has revealed soil instability—and the company has requested multiple extensions to the financing deadline and closing date.
In December, the CRA approved a third amendment and extended the date to April 2, 2013. Hixardt—which has diverted resources toward corporate growth and restructuring—is now requesting an extension until April 5, 2015.
The CRA board meets tomorrow at 4 p.m. at Pensacola City Hall.
