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Commission approves budget amendment tied to Spec building sale and Wiregrass Electric payoff
Summary
Chairman Toby Seay told commissioners ISA intends to exercise an option to purchase the Spec building; the county expects $430,000 from ISA and will owe Wiregrass Electric $359,000, prompting a budget amendment that passed 4-0.
Chairman Toby Seay briefed the commission that the lease option on the Spec building with ISA is nearing its March option date and ISA appears likely to exercise purchase. Seay said the county should expect roughly $430,000 from ISA and will owe Wiregrass Electric approximately $359,000 when a note is due. Given those amounts, Seay asked for a budget amendment to reflect the incoming payment and the Wiregrass payoff; Commissioner Todd Brannon moved to approve the amendment and the motion passed 4-0.
No additional conditions or offsets were recorded in the minutes. The Chair characterized the amendment as a routine accounting adjustment tied to the anticipated transaction and note payment; commissioners approved without dissent.
