York County committee endorses broad uses for economic development fund, asks for strategic plan

The York County Economic Development Committee voted to recommend that the county council consider using the county’s Economic Development (ED) fund for four broad purposes: public‑private partnerships; purchases or options to control property; infrastructure projects; and small‑business initiatives. The committee asked staff to return with a strategic plan and more detailed proposals.

Committee members approved the recommendation by voice vote after Kevin, who presented financial scenarios for the ED fund, reviewed possible borrowing capacity and assumptions tied to current and projected revenue streams. “When you’re going out to borrow money, they’re not gonna base it off what you say your projection would be,” Kevin said, warning lenders typically underwrite to current, proven revenue and require coverage ratios.

The recommendation followed a lengthy discussion about whether the county should use ED fund resources to buy and hold land for future industrial development, invest directly…