Plans are proceeding to lure an unidentified company to build a 65,000-square-foot building in City Center Industrial Park.

Donald W. Rutherford, the CEO of Watertown Local Development Corp., told his board Thursday the prospect wants to “fast-track” the project. The company initially would employ 20 workers.

Mr. Rutherford could not say when the company would make a decision or begin the project if it pursues the venture. News of the prospect first came up at the WLDC’s June meeting.

“The company is really hot to go on the project,” Mr. Rutherford said. “It’s a great project, but there are some challenges.”

During an update to the WLDC, also known as the Watertown Trust, Mr. Rutherford showed how the site would be developed while pointing at a map of the 122-acre industrial park off Bellew Avenue. The building would be constructed on eight acres behind the Current Applications manufacturing plant.

But the owner needs enough space for expansion that would accommodate a 100,000-square-foot building, so the site might extend on to another parcel in the industrial park, he said.

Mr. Rutherford will meet today with Patrick J. Scordo, principal with GYMO Architecture, Engineering & Land Surveying P.C., Watertown, to look at preliminary plans. They also plan to discuss how to get a nearby rail line and add two spurs to the site. Some rail track in the industrial park may be moved to use it for the project, Mr. Rutherford said.

Mr. Rutherford is working with the Jefferson County Industrial Development Agency because it owns the rail line.

Donald C. Alexander, CEO of the development agency, suggested that the CSX be brought into the mix because the rail company needs to know that the line would be used by the prospect.

The site includes a small federal wetlands site, but that issue can be resolved easily, Mr. Rutherford said. Some issues with the site’s elevation and some construction debris would have to be worked out, he said.

Developed about nine years ago, the industrial park now has seven businesses. In addition to Current Applications, they are Roth Industries Inc., United Auto Supply, Blue Mountain Spring Water, Alteri’s Bakery, Renzi Bros. and Frito-Lay.

In other action, the board unanimously agreed to give Audrey J. Danielsen a $40,000, seven-year loan with 5 percent interest to help her renovate the former Kicker’s Lounge at 496 Factory St.

She will own the building, while her husband, Frank G., will run the bar. It will be called First Round.

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