Grayson Co. partners with firm to form economic strategy for the future

By: Daniel Gotera Email
By: Daniel Gotera Email

GRAYSON COUNTY, Tex. -- This week, Grayson County leaders finalized a deal with private firm Black Knight Partners to help develop an economic strategy for the future.

County Judge Drue Bynum called it “an historic day for Grayson County.” A public-private partnership, which is very rarely entered into by Texas counties, will be created, Grayson and officials hope that the partnership will benefit both sides, as well as county residents.

The partnership between Black Knight and Grayson County was finalized on Tuesday but has been in the works for the past several months.

Officials say it could translate into new business coming to Grayson County, which could mean more jobs for Grayson County residents.

Judge Bynum says Black Knight was chosen unanimously by commissioners for the private partnership because it has the plan that will most benefit the county.

Texas Law states that counties are allowed to form economic development programs and appoint an administrator for that program.

Also included in the agreement is the creation of an economic advisory board, which includes representatives from the county, and Black Knight will oversee any decisions made by the partnership.

All ideas will have to be approved by the commissioner’s court or the council of the city which is being affected.

"It’s always been my belief that if you get the private sector to put their money in the ballgame, they’re going to help you achieve the goals quicker. We don’t have to go to the taxpayers and say, ‘We need more of your money’." Grayson County Judge Drue Bynum says.

Bynum says the economic advisory board will meet next week to discuss some upcoming issues including the development of the airport and the construction of a new jail.

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  • by Taxpayer Location: Grayson County on Nov 14, 2007 at 11:07 PM
    This group sounds "fishy". Google "Black Knight Partners". You get their website, KXII's website & the Herald Democrat website. Later on down the Google list you get the Forbes Investopedia website with a definition of the term Black Knight as a company that makes a hostile takeover offer on a target company etc... Why does Grayson County need some company to "oversee" any decisions made by the partnership. Why do we even have elected officials that feel they need to partner up with a "Black Knight" company? I smell a rat.
  • by Ralph Location: Denison on Nov 14, 2007 at 09:25 PM
    I read the newspaper article on this decision, and was taken by the comment that some of the commissioners were scratching their heads (in confusion) over the particulars of this partnership. They are not alone. Most folks I have talked to about this plan are also confused. There are few details, and a lot of vague inferences. The term "double-talk" comes to mind. This story states BK was selected as a partner because "it has the plan that will most benefit the county". Grand intentions are not a plan. The main corporate entity, Black Knight Partners has protected itself by creating a spin-off, BK Grayson Advisors LP, to be our "partner". Bynum assures everyone that we are protected because all projects must be approved by the Commissioners. That is little consolation considering the commissioners just approved a contract/ concept they do not fully understand. Rather than leading, they seem to have been led, instead. The devil is in the details, and the details are yet to come.
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