Posted: Aug 23, 2013 11:57 AM
Updated: Aug 23, 2013 1:49 PM
Source: Associated Press
SHREVEPORT - Caddo Parish's Industrial Development Board is set to become the new owners of the former Shreveport General Motors assembly plant.
The Times reports parish commissioners voted 11-1 Thursday to allocate $7.5 million in parish funds to purchase the facility, land and mineral rights of the 529-acre property. The development board would make the purchase and then lease it to Stuart Lichter's California-based Industrial Realty Group, which would assist startup automaker Elio Motors in setting up operations at the plant.
Commissioner Stephanie Lynch cast the sole opposing vote. She said she is opposed to the deal because she is concerned that the 1,500 jobs Elio Motors has promised will not materialize.
Lynch filed a lawsuit Thursday seeking to restrain the commission from consummating the transfer of funds.