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Pharr, EDC cancel big-$$$ MOU with SA-based D&M Ventures LLC

By G. Romero Wendorf

PHARR – Prior to June 20th, D&M Ventures LLC had a big-money MOU (memorandum of understanding) in place with the Pharr EDC (Economic Development Corporation) and the city.
 
For the San Antonio-based company’s president, David Marquez, things were indeed looking rosy, considering that if the MOU had eventually turned into a signed contract, it would have represented three developments each worth $1.5 million in developer’s fees.
 
Not bad work if you can get it.But on June 20th, Marquez got some bad news: his MOU had been cancelled by both the EDC and the city during their respective regular meetings. First one hammer dropped, and then the other.
 
For the uninitiated, a memorandum of understanding is a bi-lateral or multi-lateral agreement between two or
 

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