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Commission reviews Economic Development Board recommendations for two ARCO‑funded grants totaling $976,000
Summary
The Economic Development Board recommended a 10% grant of up to $376,000 to Don's Building Center and a 10% grant of up to $600,000 to Valley Bank, funded through the ARCO superfund settlement; county attorney said the recommendations comply with board guidelines and final approval rests with the Commission.
Chairman Kevin Hart summarized two Economic Development Board recommendations for ARCO superfund settlement funds: a grant of up to $376,000 (10% of project cost) to Don's Building Center toward a roughly $3.7 million new building, and a grant of up to $600,000 (10%) to Valley Bank for a roughly $6 million bank building.
County Attorney Morgan Smith said she reviewed the Economic Development Board's process and that both recommendations appear compliant with the board’s guidelines; she noted that final approval of the grants is an action the Commission must take. Hart described the Don's Building Center site location relative to Town Pump and nearby businesses and said both projects presented sound proposals to the Economic Development Board.
No public comment was offered on either project at the work session. The recommendations were placed on the Commission agenda for consideration; no formal grant approvals were recorded at this session.
