Montez said the decision was made following an executive session.
The director said the authority has signed a non-disclosure agreement with the company but he was able to report that Lone Star could develop the property behind the current Bee County Industrial Park and provide almost 200 new jobs for the Bee County area.
The board also gave Montez the authority to forward a contract for the use of the parts of the Chase Field Industrial and Airport Complex to J&S Matus Motorsports.
The company organizes and produces the Texas Mile event that is held on the parking apron at Hangar 26 and the complex’s crosswind runway.
Before adjourning, the board was given copies of the BDA’s administrative and operating budget and the Chase Field building and grounds budget.
Montez said the operating budget for the fiscal year will come to $193,761 and the building and grounds budget will amount to $301,683.
Gary Kent is a reporter at the Bee-Picayune and can be reached at 358-2550, ext. 120, or at reporter@mySouTex.com.