Commission authorizes notice to consider $17.325M industrial revenue bonds for DG Sundale project

Peter Kelton, representing the ROI firm working with the county, presented a resolution that would allow Roosevelt County to mail notices to local taxing jurisdictions and publish notice that the county intends to consider an ordinance authorizing the issuance of taxable industrial revenue bonds for the DG Sundale LLC project in an aggregate principal amount of up to $17,325,000.

Kelton emphasized the procedural nature of the resolution: "this resolution would not obligate the county to actually consider the ordinance. Rather, it would simply authorize the county to take the steps necessary to provide notice that it intends to consider the ordinance." The notices to taxing jurisdictions would be mailed about a month in advance, and the published notice would run at least two weeks before any consideration; staff said the earliest ordinance consideration would be May 6.

Commissioners asked when detailed deal terms'pilot payments, road-use maintenance agreements and the lease terms'would be negotiated. Kelton said those items should be addressed in follow-up negotiations and proposed options including forming a committee to work with the developer (NextEra) on sizing the pilot and drafting a supplemental resolution that would set exact terms before any closing or bond issuance.

The commission moved and carried the resolution directing publication and mailing of notices (the agenda-listed resolution number was corrected during the meeting). Commissioners and staff flagged the need for further, careful consideration of pilot terms before any ordinance or bond issuance.

Next steps: staff and the county chair will coordinate meetings with the developer and consider forming a committee to negotiate pilot terms and other deal points.