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Wayne County approves agreement to deed Lot 6 to development alliance for pad-ready site; board votes 6-1
Summary
The Wayne County Board of Commissioners approved an agreement to deed Lot 6 of the Wayne County Business Campus to the Wayne County Development Alliance so the alliance can secure a 0% rural development loan and prepare a pad-ready site; the county will be reimbursed $387,750 for land acquisition when the building sells.
The Wayne County Board of Commissioners voted 6-1 on Jan. 21 to approve an economic development agreement that will transfer Lot 6 of the Wayne County Business Campus to the Wayne County Development Alliance (WCDA) so the alliance can prepare a pad-ready site and use the property as collateral for a zero-percent rural development loan.
A county staff member told the board WCDA has assembled funding that includes a $100,000 grant, a $20,000 match and $220,000 in investor funds to prepare the lot. The staff member said WCDA would…
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