Release
City of Durant
The Durant Industrial Authority (“DIA”) has commenced litigation in the District Court of Bryan County to rescind certain 2021 economic development agreements with SG Blocks, Inc. Based upon the conduct of SG Blocks, Inc. and its agents, subsidiary and affiliate companies, the DIA is seeking repayment of an economic development loan which is in default. In addition and again based upon the conduct of SG Blocks, Inc and its agents, subsidiary and affiliate companies, the DIA is seeking to rescind an economic development transfer of real property which is in default.
Upon advice of counsel, the DIA has directed current officers, Trustees and Advisory Members, and is asking former officers, Trustees and Advisory Members, to refrain from commenting on the pending litigation.
The DIA’s goal for this litigation is to recover valuable assets for the economic benefit of the City of Durant and its citizens.
