BRIGHTMARK EXERCISES ITS FIRST EXTENSION

At Monday’s April meeting of the Thomaston Upson IDA--Brightmark exercised its first extension on the development period. Brightmark notified Slade Gulledge executive director of the IDA via email and FedEx it wired the escrow agent $125,000 April 4th and according to its contract with the IDA in 6 months $62,500 will be due. The letter is in regard to the purchase and sale agreement dated April 22,2024 between Brightmark and the development authority. According to Shakil Rahman of the Brightmark Circularity Center LLC-- the notice and payment was made more than 15 days prior to the expiration of the initial development period. The contract stipulates four additional extensions of $62,500 are due at 6 month increments and are non-refundable and shall be considered part of the earnest money applied to the purchase price at closing. Four persons at the meeting apparently opposed the plastics recycling project--but the IDA has no public comment on its agendas. Gwen Fuller of Delray Road told 101 News outside the meeting she and none of her neighbors want it