VIVIAN, La. – The Louisiana town of Vivian has given the owners of its largest employer – boat builder Vivian Industries – 30 days to sell the business or pay the more than $180,000 it owes the town, The Shreveport Times reported in an article today.
The construction of the boat builder’s production facility was paid for with a $2 million bond issue that requires the company to pay the town $90,000 twice each year, according to the newspaper. It has missed the past two payments, the article stated.
Mayor Stephen Taylor told the newspaper that the Parker family, which owns the boat manufacturer, has been trying to sell the business. He shared hopes that the eviction notice would speed up negotiations.
In less than two weeks, Bill Brady and Joel Euton’s letter of intent to purchase the company is set to expire, Taylor said. If a settlement isn’t reached within 30 days, the town will be able to begin litigation to have the company removed from the property, according to the newspaper.
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