Council Gets Details on Monster Moto Incentives, Approves Deal

Ruston’s Board of Aldermen got some additional details at last night’s meeting on the plans for land, building construction, and economic incentives for Monster Moto, a manufacturer of mini bikes and go carts that is set to locate in Ruston.

Monster Moto has several trademarked products and was founded in 2013, according to Bloomberg Business.

As we had reported, the city will deed a parcel of land at the old Ruston Airport on South Farmerville Street to an entity called the Lincoln Economic Development Council (LEDC).

Formed in 2010 as a non-profit, LEDC lists the following individuals as officers: Dudley Holland, Benjamin Denny, Drake Mills, Les Guice, and Lewis Love.

LEDC will in turn lease the property to a private company,
Excellence Started, LLC
, managed by Mark Graham. The Graham family has extensive business interests in the area, including Lincoln Builders, Inc.

Excellence will then construct a 100 thousand square foot manufacturing building that will be occupied by Monster Moto, and will be leased to them for a term of 25 years. Excellence will hold title to the building until the lease expires or is otherwise terminated. At that time, the title would revert to LEDC.

However, the City of Ruston is obligated to guarantee the lease payments to Excellence should the tenant (Monster Moto) fail to pay the rent.

District Two’s Angela Mayfield asked for how long would the city be obligated, and District Four’s Jim Pearce asked about the price tag.

Replied City Attorney Bill Carter, “The lease is for 25 years, the guarantee will be in effect during the term of that lease.”

When Pearce asked about the monthly cost, Carter said that it hadn’t been finalized.

Pearce: “OK. The item’s going to be a guarantee, but we don’t know what we’re guaranteeing?”

Carter: “It’s approximately $34 thousand a month.”

Pearce also inquired as to the financial particulars of Monster Mojo. Mayor Ronny Walker noted that Louisiana Economic Development (LED) had done the due diligence.

The Cooperative Endeavor Agreement for the land, and the Resolution regarding the rent guarantee passed unanimously.

10 Responses to “Council Gets Details on Monster Moto Incentives, Approves Deal”

  1. skipprT Says:

    Louisiana Economic Development (LED) had done the due diligence. This is making all feel better…

  2. Bob Robinson Says:

    Louisiana Economic Development (LED) sure messed up with the V-Car. What a bunch of dummies.

  3. ihavetopickastupidname Says:

    “approximately $34 thousand” sounds like they’re pretty certain about the number to me. And WOW, what idiot thought this up, and how can Ruston guarantee $34K/month for 25 years ($10.2M total). I’m not voting for more taxes, you can bet on that!!! Time to vote out the council. I’m all for new companies coming into Lincoln Parish, but at what expense. If this company doesn’t make it here, or the economy goes even further down the tube then Ruston is on the hook.

    When Ruston citizens find out they are the co-signers on this endeavor they will be none too happy. Not a great start there Ron. $34K could do a world of good for the city rather than paying rent for a possibly future defunct company. Had the company been around for 15 or 20 years I might feel differently. Nothing against MonsterMoto at all, I just don’t agree with Ruston taxpayers being used as leverage to forge this deal. Sounds fishy to me, honestly.

  4. Mr. E Says:

    “Formed in 2010 as a non-profit, LEDC lists the following individuals as officers: Dudley Holland, Benjamin Denny, Drake Mills, Les Guice, and Lewis Love.”

    If that isn’t a list of Ruston insiders, I don’t know what is! Folks, we’re getting hosed on this one! We could laugh at Ouachita Parish for falling for the V Vehicle scam, but now it’s happening here in Lincoln Parish. Apparently, none of our leaders learned a damn thing from the V Vehicle scam – like how to avoid it in the first place!

    When this deal falls through, these people can afford the higher taxes that will be demanded of us to pay that $34 K rent guaranteed each month. And don’t believe that rosy picture about manufacturing operations looking for a facility that size and waiting to swoop in if Monster Moto doesn’t make it. If that were the case, then the airport facility would already be leased!

    The collectivists will whine that anyone opposed to this deal isn’t for expanding job opportunities in Lincoln Parish, but that is definitely NOT the case. What we’re against are crooked deals like this that benefit Ruston insiders at our expense with dubious merits. These collectivists always construct the argument as either accepting their crooked deal or being against progress. Remember, Obama is a progressive and look what he’s done to this country!

  5. deleted Says:

    sad day for ruston, i really thought ronnie was gonna be a good business man for ruston. it isn’t the first time my vote went to waste

    • ihavetopickastupidname Says:

      I voted for the other guy.

    • Bob Sherunkel Says:

      Fear not, Ole Bill has been front and center in this whole thing.
      Don’t confuse potential problems with actual problems.
      Actual problem could be described as the decision making adeptness on the part of those involved.
      Potential problem could be described as what may happen if Moto fails.

      Don’t confuse the two.

  6. Windy Says:

    Money talks. Pol’s will sell their souls for the dollar. No such thing as an honest poly-tic.

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