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Lonesome Pine RIFFA returns $10,000 to Dickinson County and wins reaffirmation of membership
Summary
Representatives of the Lonesome Pine Regional Industrial Facilities Authority told the board Project Intersection has two occupied buildings (EarthLink and Wrap Technologies), explained the region's seven-share revenue model and presented two checks totaling $10,000 as reimbursement and revenue sharing.
William Wampler Jr., interim project coordinator for the Lonesome Pine Regional Industrial Facilities Authority (RIFFA), and Dwayne Miller of Lenowisco briefed Dickinson County supervisors on the RIFFA's revenue-sharing framework and returned two checks totaling $10,000.
Wampler told the board the RIFFA has two occupied Project Intersection buildings: a 28,000-square-foot facility leased by EarthLink with roughly 80 employees and a 20,000-square-foot building occupied by Wrap Technologies (about a dozen employees but growing). RIFFA explained a base seven-share revenue-sharing model that divides revenue among the five member localities, gives the host locality (Norton) an additional share, and reserves one share for the authority's operating costs.
The RIFFA asked Dickinson County to reaffirm its existing membership and to approve project-specific revenue-sharing agreements for both buildings. The board approved the following resolutions by voice vote: reaffirmation of membership in RIFFA, entering the standard revenue-sharing agreement, and approving Building One and Building Two revenue-sharing terms.
Following the votes the RIFFA representatives presented the board a $5,500 reimbursement check (return of the county's annual contribution) and $4,500 in revenue-sharing funds for a total $10,000 in cash that evening; Wampler said additional disbursements could follow after Norton finalizes real-estate assessments.
Supervisors praised the regional partnership and thanked RIFFA for the returned funds and for the economic-development work that produced roughly $30 million in capital investment at Project Intersection, according to RIFFA representatives.
