The Stephenville Economic Development Authority met Friday and voted to move the organization’s expensive and under-utilized offices from the second floor of the First National Bank Building on the courthouse square to a more efficient, cost-effective two-office space at Clark Field Municipal Airport.
Prior to the vote, Dr. John Hubbard, executive director of SEDA, explained the rationale behind the move.
“The current office at 198 south Belknap Street is under-utilized. It is suggested that the board consider relocating to a more cost-effective office. Jeremy Allen, assistant city administrator, has offered office space at Clark Field for $300.
“This price includes two offices, the use of the Airport Conference Room, and utilities. The price does not include phone service, a dependable internet service, or cleaning the offices. SEDA currently pays $1,648 for rent. The rent includes common area maintenance and utilities. The rent does not include phone service or internet service."
It is estimated SEDA would save approximately $1,248 per month ($300 rent plus estimated $100 for cleaning the offices) if relocated to Clark Field. ,
“Assuming SEDA relocated to Clark Field on May 1, 2017, SEDA would save $6,240 the remainder of FY 2016-17. Over a 12-month period SEDA would realize almost a $15,000 cost reduction in rent when compared to the current rental rate.”
The board approved the move unanimously.