In a brief meeting Friday morning, the Jackson County Industrial Development Authority approved a contract to sell eight acres in the East Jackson Industrial Park.
Track Properties LLC, which already owns two lots in the industrial park, agreed to purchase the property. The developer plans to locate a “spec building” on the site.
The sale price for the eight-acre lot is $80,000.
The agreement includes the provision that the IDA will have the first right to purchase the property back at the same price if the development is not under way within two years.
Chamber of Commerce president, CEO and economic development director Josh Fenn said that the company is in its “due diligence” phase regarding the property. He said he expects the company to build a 30,000-square-foot to 60,000-square-foot building on the site.