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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 obtain the 0% loan through Tri-County, use the property as collateral, build the warehouse, sell the finished building to the prospective tenant and then repay county development costs from the sale proceeds.
“Wayne County will be reimbursed $387,750,” the staff member said, describing that figure as the county’s proportional property-acquisition and development cost for Lot 6. The staff member said the 2017 agreement among the county, the city and WCDA requires the county be reimbursed for acquisition costs before other parties receive proceeds; the motion modifies that agreement only for this lot.
Commissioner Antonio Williams moved to approve the agreement; the motion carried 6-1. The WCDA board has already approved the proposal, a staff member said.
Why it matters: The action enables WCDA to use the county-owned lot to secure low-interest financing and move a specific prospective project forward while protecting the county’s development investment through a pledged reimbursement.
What the agreement does not change: The board record indicates the county’s reimbursement figure and the funding mix for site preparation; it does not record any changes to zoning, required permits for the building, or a guaranteed tenant. Those details were not specified in the meeting record.
Next steps: The staff member said WCDA will proceed to close on financing and construction planning; the county will be reimbursed at sale as described in the motion.
Votes and formal action: The board approved the agreement by a 6-1 vote. The motion’s mover was recorded; a second was not specified in the meeting minutes.
