Gainesville council accepts GEDC request to borrow $2.5 million

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GAINESVILLE, TX -- The Gainesville council accepted a request from the Economic Development Corporation to borrow money from the city.

The GEDC will now borrow up to $2.5 million dollars from they city for infrastructure improvements to the new 142 acre industrial park.

The money will go toward building roadways water and sewer lines and more.

In September GEDC leadership requested $1.5 million dollars but now say they need more money due to newly determined additional costs.