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Lee County to seek LGC approval for financing of Coca Cola warehouse; residents urge pause
Summary
The Lee County Board of Commissioners opened a public hearing and voted to request Local Government Commission approval to finance the purchase and upfit of the former Coca Cola warehouse using a limited‑obligation bond; residents at the hearing urged the board to pause and consider leasing or alternative properties, citing an apparent price premium.
The Lee County Board of Commissioners on Sept. 15 voted to advance a financing plan to acquire and renovate the Coca Cola building as a county warehouse and vehicle facility, approving a resolution to seek the Local Government Commission’s review. Staff told the board the county solicited proposals and that JPMorgan offered the lowest interest rate — 3.97 percent on a 15‑year term — and that financing would be prepayable after Nov. 1, 2030.
The motion to waive the county policy that would otherwise delay same‑night action and the subsequent resolution to request LGC approval passed by voice vote. Staff said the board would…
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