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Pike buying land, sells some for oilfield housing

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MAGNOLIA, Miss. (AP) — Pike County supervisors have agreed to buy 244 acres of land for a planned industrial park and to sell 40 of those acres for oilfield worker housing.

The Enterprise-Journal of McComb (http://bit.ly/XsL1BW ) reports that the buying and selling price is the same: $12,000 an acre.

The land is planned as the site of the Gateway Industrial Park.

The seller, Griffin Timber LLC, keeps mineral and timber rights.

The contract allows the board to buy nearly 110 acres by Oct. 31, when proceeds from a $3 million bond issue come in, and the rest by August 2016.

Board president Chuck Lambert says the supervisors hope to sell all the land to industry.

The first sale is to Shale Logistics LLC/Reliant Asset Management, which plans to build oilfield workforce housing there.

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Information from: Enterprise-Journal, http://www.enterprise-journal.com

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