The Giddings City Council and the Economic Development Corporation have agreed to purchase a 155 acre industrial park.
A $2 million loan to improve the infrastructure for use.
Along with the land purchase, he funds will be used for road construction and other building projects on the property.
The loan will be repaid from the one-half cent sales tax that’ levied for the benefit of the EDC.
The location of the land has not been revealed at this time. A 60 day waiting period after the public notice and a public hearing is needed before the site is named.