Pioneer Energy Products Inc., commonly known as Pepro, submitted an offer of $340,500 for the 5.84-acre subdivided parcel of land.
The sole bid was opened by the city on May 27, and council members unanimously accepted the offer by way of a resolution during Thursday’s meeting.
“It’s a win all the way around for the city,” councilman Ron Gustafson said.
City manager Mark Schroyer agreed with Gustafson’s view on the sale of the buildings and thinks it will pay dividends down the road.
Schroyer said there was talk about Pepro leaving Oil City, but it never worked out.
By selling the buildings to Pepro, Schroyer said a successful, tax-paying business is staying in the city and it leaves room for more jobs to be created locally.
“I think this is a great opportunity for private co-op to further business interests for the city,” Schroyer said. “It’s a total win for the city and the area.”
Pepro, which specializes in mobile and remote communications shelters, was already leasing space at the industrial park prior to acquiring the new parcel of land.
Schroyer said the money received by the city in the sale will likely be placed in a “rainy day fund,” something Gustafson considers a smart decision.
“We have been sorely lacking there,” Gustafson said.
Schroyer indicated he would like to use some of the money initially to help spruce up the outside of City Hall.
In other city-related business:
n Council entered into an executive session at the conclusion of Thursday’s meeting in regards to pending litigation involving water and sewer issues with Cranberry Township. No official action followed.
n Schroyer said part-time code enforcement officer Jim Hibbard was brought back to work on a summer basis through August because of some administrative funds that were made available due to the vacant city engineer position.
n A facade improvement grant request in the amount of $4,857.50 was approved by council for David and Amanda Hippenstiel. The grant will help pay for a $9,938 project pertaining to their business Sleep Shoppe by State Street Furniture, which will open this summer in the space formerly occupied by Williams Decorating.
Specifics for the project include removing the existing garage door on the side of the building with a set of glass entry doors to create an additional entrance for pedestrians on the Front Street side of the building.
In addition, signs from the previous business will be replaced.
