ADELANTO, Calif. (September 21, 2017) – Fulfilling its pledge to the residents and City of Adelanto, HDO Enterprises presented a $1.1 million check to Mayor Richard Kerr and the City Council during Thursday’s annual State of the City address, held before community and business leaders gathered at the Adelanto Stadium.
“Only a few years ago, our city was on the verge of financial collapse, but this City Council had a bold vision for bringing new prosperity and growth to the city we call home by focusing on new economic development opportunities that would strengthen our community,” Mayor Kerr said. “Today’s presentation by HDO Enterprises is a realization of that vision, and has helped bring our city’s budget and future back to the positive side of the ledger.”
The $1.1 million check presented by HDO, as called for through the company’s developer agreement with the city, represents 6% of the total revenues of the Adelanto General Fund.
“As a member of the Adelanto community, we are happy to be presenting this check that will help the City make our streets safe, add community programs, and make much-needed infrastructure improvements,” said Naseem Farooqi of HDO. “Working together, we are improving the quality of life for Adelanto residents.”
In recent years, the city had faced a severe economic crisis. With $2.6 million in debt and the specter of bankruptcy looming, the City Council had the foresight to invest in its future and embraced the emerging cannabis cultivation industry.
By approving projects like the HDO Industrial Park, the city has increased its tax revenues and now is operating in the black with a reserve fund.
At 630,000 square feet, the HDO Industrial Park is the largest master-planned business park ever approved in the city and construction is well underway. The project will create up to 550 permanent jobs – at least half of which will be for Adelanto residents – while generating more than $2.7 million in annual tax revenues for the city. HDO is currently selling the 21 buildings in their business park and bringing the jobs and revenue closer to reality.