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Economic Development Board recommends up to $600,000 grant to Valley Bank for new building
Summary
The Economic Development Board recommended a 10% grant of up to $600,000 to support a roughly $6 million Valley Bank construction project; the board's grant program uses Atlantic Richfield settlement funds and final Commission approval is required.
The county's Economic Development Board recommended that the Commission consider a grant of up to $600,000 to Valley Bank as part of a proposed roughly $6,000,000 new bank building project.
Chairman Kevin Hart described the project's scale and said the $600,000 figure reflects the board's 10% maximum contribution. Hart called the proposed building a "fantastic building" and noted the recommendation follows the same program rules that apply to other Economic Development Board awards.
No public comment was recorded at the work session; County Attorney Morgan Smith reiterated that final project approval would be made by the County Commission and that the board's recommendation appears compliant with its guidelines.
