A new Ford dealership planned for the intersection of U.S. 400 and U.S. 59 will cost up to $2 million to build.
The Parsons City Commission approved an incentive package for Mike Carpino Ford Parsons Inc. on Monday evening and much of it depends on construction of the new facility.
“We are actually committing to a fairly large project out here on the corner,” Mike Carpino said. “When it gets said and done, we’re going to be between a million and a half to $2 million.”
Carpino, who also owns Mike Carpino Ford, Columbus, plans to buy Green Country Ford, 1100 Main, and eventually move the dealership to the new facility at the northwest corner of the U.S. 400 and U.S. 59 (North 16th Street) intersection. Development of the land to be bought from JOBS Inc., a local, private economic development group that works to add jobs and increase the city’s tax base, will take a couple of years.
The city will give JOBS Inc. $100,000 over four years to assist with the land purchase. Mike Carpino Parsons also will get a $100,000 forgivable loan from the city that originally was meant for Green Country Ford, which didn’t meet requirements under its agreement with the city for that loan to be forgiven. Upon groundbreaking for the new facility, an outstanding loan made to Green Country and absorbed by Mike Carpino Ford in the purchase of the dealership will be forgiven. There is $161,000 left to be paid on that loan.
(Read more: Parsons Sun)