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IDA leader Denise Grimsley details turnaround, grant wins and property holdings
Summary
IDA CEO Denise Grimsley told the Hardee County Board on Aug. 14 that the authority has reformed contracts, secured more than $12 million in grants, and owns 42 properties across 60 parcels; she said independence and bylaws support long-term strategy and warned the board's proposed resolution could undermine that work.
Denise Grimsley, who the board introduced as "Senator Denise Grimsley, CEO of the development group," gave a 40-minute IDA overview at Thursday's workshop that traced the authority's statutory origins, recent governance changes and a multi-pronged economic-development strategy.
Grimsley said the IDA currently owns 42 properties comprising 60 parcels and has secured "over $12,000,000" in grant funding. She described contract reforms that include standard triple-net leases, quarterly financial reporting, stronger purchase-option language and recent inclusion of personal guarantees. "We are here to divest of these properties. As soon as that business is able to purchase them, we are ready to sell them," she said.
Grimsley also summarized local development agreement history, including earlier Mosaic LDAs that she said produced a combined contribution to local funds; she cautioned commissioners that the resolution under consideration would reduce industry-based representation on the IDA and could be inconsistent with chapter 159 seating requirements. "That building purchase was the biggest mistake the IDA ever made. And I'll own it," she told the board, outlining why some historic purchases under earlier contracts were not protective of public interest.
She closed by offering commissioners a detailed budget briefing and repeated an invitation to meet with staff for line-by-line review, saying the IDA will present a refined monthly update going forward.
