County alerted to $1 million food-and-beverage pledge for Newcastle housing infrastructure; first $500,000 invoice expected in September

Corey Murphy, a county staff member, told the Henry County Board of Commissioners that the City of Newcastle will use its economic development commission (EDC) statute to deliver public funds to a public-private residential project and that the county should expect an invoice this August and a draw in September. "The first draw will be from the food and beverage of approximately $500,000 in September," Murphy said. The procurement method and timing matter because the county council already pledged $1 million to the project; the county commissioners, Murphy said, approve invoices and therefore should be prepared when the invoice appears on the commissioners' agenda. "On August 27, you'll be presented with an invoice," Murphy said. Murphy said the EDC statute is the procurement route Newcastle’s attorney recommended and that, under that method, the city’s economic development commission will hold a public hearing to allow taxpayer comment. "That public hearing will be on Monday, August 18 at 3PM at the City Of Newcastle Chambers, 227 North Main Street," Murphy said. Murphy described the public investment as supporting public infrastructure — roads, water, sewer and drainage — not construction of the homes. He said the project expects roughly $4 million in public infrastructure spending to leverage about $15 million in private home construction. Murphy also said the project team put the food-and-beverage funds into a forgivable loan structure with benchmarks that, if unmet, would require repayment. County officials present asked procedural questions; Joel, a meeting participant, affirmed Murphy’s overview. Murphy said the second draw is anticipated in May 2026 for roughly $500,000 and reiterated that the county council already committed the $1 million total. "So that's right now, that's how we see the funds flowing," he said. The county did not take a formal vote on the project during the meeting; Murphy presented the timeline and asked commissioners to note the upcoming dates and the public hearing if they wish to participate.