The Forney EDC, acting during their regular March meeting last Thursday evening, March 18, OKd an arrangement that will enable a businessman to move forward with the startup of a business in the building at Church Street and South Bois d’Arc formerly occupied by the clinic of Christine Walker, M. D.

Under the EDC’s HBD Loan/Grant program, the EDC agreed to put up a Certificate of Deposit of $25,000.00 as collateral for a loan to Mr. Robert Jeansonne from American National Bank. The ANB loan will provide capital in addition to a loan Mr. Jeansonne had previously obtained.

Mr. Jeansonne plans to open a print and copying shop in the former Walker clinic building. He has already done substantial work to renovate the structure.

Jeansonne was present at the March 18 EDC meeting along with Kyle Berry of American National Bank to discuss the proposal as the first of six discussion items on the agenda. During discussion, Jeansonne assured the EDC of his intention to repay the loan, stating several times that he could liquidate several personal assets to satisfy the loan, if it came to that.

After the discussion, EDC Board President Bill Cates moved to the first item under “Action Items” on the agenda in order to take action on the Jeansonne request. EDC Board member Jay Calvin offered a motion to approve issuance of the CD as security for the loan, contingent on the EDC’s taking out a second lien and the issuance of all required permits by the City of Forney. Calvin’s motion drew a second by Director Mark Ellis and it passed by a unanimous “yes” vote of all the Directors who were present.

EDC interim Executive Director Kim Buttram told the Messenger that approval of the arrangement represents completion of the first HBD Loan/Grant fund application. Mrs. Buttram worked with Fran Owens to set up the program, with input from banks who participate in the EDC’s quarterly Bankers Profit meetings.

In 2007, the Forney EDC completed cleanup of the Darden Property and sold the ground to Gary Murrey. The proceeds in the amount of $100,000 was “earmarked” and set aside in a reserve account to be used to for downtown reinvestment.

The Historic Business District Loan Grant Fund was created by the Forney EDC Board of Directors in collaboration with the Banker’s Profit group in 2008.  It was approved by the EDC Board of Directors on May 15, 2008 and adopted by City Council on July 1, 2008. 

  “Now, just under two years later, the HBD Loan/Grant Fund has its first recipient, and how appropriate that it would go into restoring Dr. Walker’s building,” EDC interim Executive Director Kim Buttram said. Forney native Dr. Christine Zaraphonetis Walker (now retired) had a family medical practice in the building at Church and South Bois d’Arc between 1950 and about 2007.