BEAUMONT, Texas — Almost two weeks after the sale of Ford Park fell through, county commissioners are preparing to approve more than $200,000 to replace a cooling tower at the complex.
(Editor's note: The above video is from a March 10, 2022 newscast.)
One item on an upcoming commissioners court agenda is the approval of $205,000 for Industrial and Commercial Mechanical of Beaumont to replace a cooling tower. That meeting is set to take place on March 22.
The sale of Ford Park fell through after the Renaissance Development Group missed a string of deadlines to pay for the complex. The developers planned to bring horse racing to the county.
County officials said they, "gave the potential purchaser every opportunity to get this done."
In late February of 2022, Jefferson County commissioners said the Renaissance Development Group had until March 4 to pay an additional $560,000 in earnest money. That deadline was missed, effectively killing the sale.
The county will get to keep the initial $440,000 in earnest money that was on account. The money is in an account earmarked for Ford Park expenses. It has not been touched yet, pending completion of all legal actions related to the failed deal.
The Renaissance Development Group previously agreed to pay more than $22 million to Jefferson County by Friday, Feb. 18, 2022. That deadline was also missed.
The county began discussing the sale of Ford Park in August 2020. Renaissance Development was the sole bidder on the property in November 2020.
Jefferson County Auditor Patrick Swain told 12News that other potential buyers have since come forward, but their names have not been made public.
It is possible for the sale of Ford Park to go back out for a bid, however, county officials said they knew that, "everybody wanted this deal to go through."