Board approves financing to buy, renovate former Coca-Cola buildings for public safety warehouse

The Lee County Board of Commissioners voted Oct. 6 to authorize financing to purchase and renovate the former Coca-Cola property as a consolidated public safety warehouse and office for county services.

County staff presented the public safety warehouse project, describing an acquisition of two buildings on roughly 8.6 acres: a larger 38,000-square-foot building proposed for warehouse storage and a smaller 8,600-square-foot building slated for office space to house programs such as COLTS and Veterans Services. Brandon Key (staff member) said the site allows for a secured perimeter, an existing 9,000-square-foot bay dedicated to the sheriff's equipment, and flexibility for exterior storage and future expansion.

Key told commissioners the county analyzed multiple properties and compared options. He said modest renovations to the existing structures would require an estimated $1.8 million to $2.1 million to make the space operational for county needs. By contrast, Key said a new-build facility of roughly 45,000 square feet with brick exterior and 15,000 square feet of office space would be about $18,000,000, not including land costs.

After the presentation the board considered a financing resolution and associated documents to support the purchase and improvements. Joan (staff member) presented the final resolution and related financing documents, including a bond purchase agreement and a supplemental trust agreement; staff also noted the Local Government Commission (LGC) would review the financing package.

Commissioner Sharp moved to approve the resolution authorizing financing to purchase and improve the Coca-Cola building through issuance of a limited obligation bond not to exceed $7,800,000; the board approved the motion by voice vote. The resolution directs staff to proceed with execution and delivery of documents needed to complete the financing and purchase and to seek LGC approval where required.

Commissioners and staff emphasized the comparative cost analysis: staff recommended buying an existing facility and renovating it as a cost-saving measure versus constructing a new building. Key said the county had previously budgeted for a new 30,000-square-foot build at the Jonesboro school site but the lease and timing constraints pushed the county to seek an immediate, lower-cost acquisition.

Ending: Staff will move forward with the purchase process under the financing resolution; the financing documents will be submitted for LGC review and the board will receive updates as the acquisition progresses.