FYI: This is what is being done with the money Robert Gandy III has stolen from us, and so many of our brave Soldiers, while our hard earned paychecks were entrusted with his Financial Institutions. It's going to take all the "creative accounting" his employees can tack on to unsuspecting bank customers to accumulate $100 million --don't let yourself be a victim, too.
Work underway on planned $100 million corporate complex by First National Bank By DAVID A. DAZ, edinburgpolitics.com. Dirt is literally flying at the site of the future $100 million corporate headquarters of First National Bank of Edinburg, located near the intersection of West University Drive and North 10th Street, bank president Robert Gandy, III reported on Tuesday, June 26, to the Edinburg Economic Development Corporation board of directors.
Gandy said up to $2 million has been spent so far by the Edinburg-based institution, one of the most successful banks in Texas, as part of its seven-year plan to create, what he believes, will be one of the best-designed financial centers in the United States.
His presentation before the EEDC board of directors came in the form of an update to the organization, which is the jobs-creation arm of the Edinburg City Council.
Former Edinburg Mayor Richard Garca is president of the EEDC board of directors, which also includes Mayor Joe Ochoa, Fred Palacios, Mike Govind, and George Bennack.
In December, 2004, the EEDC awarded First National Bank the right to buy the site a 115-acre, long-unused tract of land that had been a former Edinburg airfield in exchange for transforming the area into a commercial and retail development that would eventually create up to 1,000 high-skilled, well-paying jobs with an annual payroll approaching $50 million.
The bank bought the property for $4.55 million, and has been slowly, but steadily laying the groundwork for up to 22 buildings that bank leaders plan on constructing by February 2012.
So far, our budget for the contract we have let out is about $2 million for the dirt work and the utility work, Gandy said. We have spent a lot of money so far it doesn't look like much because there is dirt out there, but we are making some progress, although it has been slow.
Bank leaders have said the first phase of construction will include building its financial data center and its corporate administrative offices.
The large complex eventually will feature 20 other bank functions, ranging from a small luxury hotel to a conference center surrounded by lush landscaping and featuring a 30-acre lake.
Other components of the planned complex include an amphitheater, branch bank, botanical conservatory, call center, business dining club, employee cafeteria, training, health services and day care facilities, heliport, warehousing, motor pool, cash management services, and personnel department.
We have finished the storm sewer installation, we have our water lines in, these are all of Phase I, Gandy said. We have taken the old drainage ditch that emptied under (State Highway)107, we have made it into a holding channel with a concrete pilot channel.
He added that construction crews have dug and roughed in a planned first lake, and will be drilling a water well that will be hooked up to Hidalgo County Irrigation District No. 1 in order to have access to additional sources of water for the man-made lake.
The next thing we will be doing will be putting our first streets, and finishing up the lake with a hard edge, and it will have a PVC liner in it, Gandy continued. Our plans for our data center, which will be roughly a 65,000-square-foot building those are about 99 percent complete. They are at our architects being redlined.
This week, we started further planning to construct our first general purpose office building there. It will be three stories and house about 300 to 400 people when it is completely full.Gandy said four buildings will be part of the first phase of construction, with the proposed financial data center set for construction to begin in mid-fall 2007.
It is a pretty complicated building, he said of the data center, but noted the bank has already built the pad for that, so that will give us a couple of months heads start.
Our other plans are, once we get the first lake installed and tested to see how it is going to operate, make sure that we know exactly what the technology is that we are using, then we will start on the second lake, Gandy continued. That will give us a chance to then open the rest of the project to the retail/commercial development.