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Floyd County approves nearly $1 million change order to finish Nova Park ‘Redwire’ building
Summary
The Floyd County Commissioners voted Sept. 2 to approve a roughly $953,000 change order to complete Building 5 at Nova Park—intended to house Redwire and a 5,000-square-foot IUS lab—after staff said a mix of bond contingency, TIF funds and county funds would cover the work.
The Floyd County Commissioners voted Sept. 2 to approve a change order for Building 5 at Nova Park, a 35,000-square-foot project with approximately 30,000 square feet slated for Redwire and 5,000 square feet for an IUS laboratory.
Chief operations officer Nick Creeby introduced the item as old business and turned the presentation over to Mr. Green, who described the building as the anchor for Nova Park. "This is Building 5 at Noble Park, colloquially known as Redwire Building," Mr. Green said, noting the site supports a $2,970,000 EDA grant and a future tech-park designation intended to retain jobs. Mr. Green said lease payments and tax-increment financing (TIF) revenues will contribute to bond repayment.
The county sought approval of a change order Mr. Green described in the meeting as about $953,000. He said about $280,130 had been set aside in bond contingency, $110,000 was available from 2025 TIF funds and an additional $175,000 could be used from 2026 TIF, leaving roughly $373,000 of commissioner funds that staff said could be recovered from future TIF proceeds.
Not all attendees supported the approach. Dale Mann of Georgetown, who spoke during the hearing, called the change order "unheard of" and said, "It sounds crooked," arguing the work should be put back out for bid instead of handled as a single large change order.
County staff and several commissioners pushed back on the idea of delay. Mr. Green said the IUS lab space had not been designed at the time the original BOT contract was issued and that approvals for design contracts were completed in 2024; he said the structure of the financing — leases, TIF and bond contingency — was intended to cover the added scope. Commissioners noted that tabling the matter would halt construction and could risk losing tenants.
An unidentified commissioner moved to approve the change order and the motion was seconded; the board voted in favor by voice vote. The commission instructed staff to proceed so construction could continue.
The change order and related financing plan advance the county's goal of keeping Redwire in Floyd County, supporting job retention and moving toward a certified tech-park designation. Staff said the Floyd County Redevelopment Commission will take possession of the building on completion and lease space to Redwire and IUS.
Next steps: staff will continue construction and follow up with the Redevelopment Commission on available funds and any additional financing options the RDC may offer.
