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Council OKs $5 million of city IDB capacity for Freed‑Hardeman cafeteria project

Board of Mayor and Aldermen of the City of Henderson, Tennessee · October 10, 2024

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Summary

The board voted to allow Freed‑Hardeman University to use $5 million of the city’s $10 million Industrial Development Bond allocation for calendar year 2024 to help fund a cafeteria project.

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Recorder Jim E. Garland told the board that Freed‑Hardeman (FHU) requested use of $5 million of the city's $10 million Industrial Development Bond (IDB) capacity to help pay for a new cafeteria. Alderman Donna R. Butler moved to authorize FHU to use $5M of the city's IDB for calendar year 2024; Alderman Jason Rhodes seconded, and the motion carried.

The minutes state that the city’s $10M IDB allocation renews annually and that approving $5M for FHU would leave $5M available. The board recorded no dissent on the motion.

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