And Now We Wait

The Jefferson County Commission recently approved funding in the amount of $442,311 for the initial phase of certification for the proposed Megasite project that would be located around the interstate 40 and interstate 81 split. The appropriation came at the request of the Economic Development Board, which is an arm of the Jefferson County Chamber of Commerce, however the funds will be directed through the Jefferson County Industrial Development Board. In separate meetings with Jefferson County Finance Director Helton and EDOC Director Wagley, the funding flow and responsibility were addressed. Director Helton, who also sits on the EDOC Board, stated that the $442,311 had not yet been released to the Industrial Development Board. Wagley, who acts as staff to the Industrial Development Board, said that EDOC will cover expense incurred prior to the announcement of the project. Those will total around $22,000 and will come from funds that EDOC has on hand through private and public contribution. The remainder of the expenses for the project will be handled by the Industrial Development Board. Helton stated that the process for transferring the funds is still unclear because the request for funding came from another body, rather than from the Industrial Development Board.

As of date, the Industrial Development Board has not met to consider the issue of the proposed Megasite and have made no official request for funding, though, according to Wagley, the Chairman of the IDB has attended some EDOC meetings and is aware of the project. Should the project develop beyond the first funding phases and require a significant bond issuance or seek funding assistance from the State, the Industrial Development Board would be charged with making the request. Unlike many Industrial Development Boards across the State, the Jefferson County Board has no revenue generating means to support the certification phase of the Megasite project. Typically, an IDB would have funds generated from leased or sold commercial property that would be used to fund further economic ventures, such as site certification, though major funding is usually in the form of State bonds or grants, or County donations. The IDB has been searching for suitable property to be purchased that could be income generating. Both Helton and Wagley agree that a separate account should be set up for the Megasite project and Wagley said that he will encourage an audit of the account, either by the County Finance office or an outside source. The Jefferson County Industrial Development Board has been investigating sites for an Industrial or Business Park for the County, but has been cautious in their site selection. A change in the complexion of the IDB, due to members stepping off of the Board, occurred during the site selection process. According to Wagley, several members’ terms are set to expire shortly. Nominations for those seats will come from the County Nominating Committee and will require approval of the County Commission. According to procedures set by the Nominating Committee, applications will be taken from residents that are interested in serving on the Industrial Development Board. Currently, contracts with the Public Relations Firm, Land Acquisition Firm and Certification Firm are with EDOC rather than the IDB. It is unclear if the Industrial Development Board will be required to take bids on those services or how the contracts would transfer. Generally, bids are required on goods and service that exceed $10,000 and there is no line item in the proposed budget for certification ($2,428,677) that does that meet the $10,000 threshold. Wagley anticipates that the Industrial Development Board will meet in the early part of March to address the Megasite issue.