The Stephenville Economic Development Authority board of directors discussed several steps to keep Lone Star Arena open, but took no direct action on Thursday.
SEDA Executive Director John Hubbard said that there’s a sense of urgency about Lone Star Arena, and that it could potentially close by the end of the year.
He also said in an earlier statement that co-owner of Twisted J Apparel Cody Johnson wants to buy and renovate Lone Star Arena, while requesting that SEDA grant financial assistance up to $1.2 million in the form of a loan.
A letter of intent between SEDA and Johnson did not transpire.
The City Council would still have final approval or denial.
Source: Local News