Federal Grant Awarded to Help Sell Chrysler Fenton Plant - KMOV.com

Federal Grant Awarded to Help Sell Chrysler Fenton Plant

Thursday, President Barack Obama's "Car Czar" (Director of Recovery for Auto Communities) Ed Montgomery is scheduled to announce a nearly $1.6 million federal grant to help market the former Chrysler plant in Fenton.

The grant, plus a 25% local (and state) match, will pay for environment studies, consultants, and marketing to help facilitated the sale of the large plant.  

The total tax payer investment would add up to $2.1 million.

Fenton's Mayor, Dennis Hancock, says the money is necessarily to bring more prospective buyers through the door, especially those who would hire hundreds of employees.

"The one thing we don't want to do is see this turn into a five million square foot warehouse and employ about ten people," said Mayor Hancock.

The grant is provided by the U.S. Department of Commerce.

The official announcement is set for Thursday at 12:45 p.m. at the Fenton plant.

NAI Desco is the broker handling the sale of the property.  Floyd Sweeney told me, by phone, that the property does not carry a listing price.  He said he has given tours of the plant and property to several prospective buyers.  There was one offer placed, but it was unacceptable.  He said confidentiality agreements keep him from disclosing where who made the offer.

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