Cove EDC rejects nonprofit’s aid request - Business - Mobile Adv

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Cove EDC rejects nonprofit’s aid request

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COPPERAS COVE — The Copperas Cove Economic Development Corporation Board denied financial assistance to Central Texas Hospitality House.

The nonprofit, which houses visitors for incarcerated people, requested $300,000 from the corporation to aid funding a 10-room, overnight facility in Gatesville.

The organization is hoping to open the facility by spring.

Construction is underway.

The board said, “It is a very worthwhile community project,” but it not the “highest and best” use of the Cove EDC’s funds.

“We will continue to focus on job creation and revenue growth in terms of property and sales taxes for Copperas Cove,” said board President Dan Yancey.

The project does not impact job creation or retention and it does not increase property or sales tax values in Copperas Cove. Both are benchmarks for receiving the corporation’s financial support.

There also are several projects the Cove EDC is trying to fund, including the Copperas Cove Entrepreneur Center, the 72-acre Narrows Technology, and Professional Park and a prospective land swap with Fort Hood. In other business, the board requested EDC staff to seek price estimates for placing the Narrows’ electric utilities underground.

“They do want to go underground with electric, but cost will be a factor,” said Monica Hull, a spokeswoman for the corporation.

Endeavor Real Estate buried the electric utilities throughout Five Hills property, which is abutting the Narrows.

While underground electric utilities are more aesthetically pleasing, they tend to cost more, Hull said.

mcanales@kdhnews.com | 254-501-7554

Contact Mason W. Canales at ​mcanales@kdhnews.com or (254) 501-7474

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