MITCHELL - AUGUST 11, 2022 - The Lawrence County Redevelopment Commission is considering entering into a MOU (Memorandum of Understanding) with the Marion Township Volunteer Fire Department.
At this time there is questions on what the funding will go towards, which could be the renovation and expansion of the fire station or whether it would be used for Equipment and Training.
The Marion Township trustee and advisory board are also working out other agreements on whether fire department will transfer the property over to the township or remain with the fire department as property owners.
The Lawrence County RDC previously drafted a MOU between Marshall Township Volunteer Fire Department with the purchase of a UTV. The RDC members was asked to be able to start considering what type of MOU will be drafted for Marion Township Volunteer Fire department.
In other business:
Lawrence County RDC is considering on how to fund future projects the RDC may fund over the next three years.
The Lawrence County RDC used funds from the Marshall Township TIF district and the revenues from sale of Dunn Memorial Hospital to fund current projects.
However, Lawrence County RDC is considering on using Cumulative Cap Fund or taking out a bond to fund future projects until TIF Revenues or revenue from fees start coming in.
Using a hypothetical loan of $400,000, a ten-year loan will cost the RDC an additional $250,000 using a bond.
The Lawrence County Council will also have to approve using a Cumulative Cap Fund revenue should the RDC go that route.
No decision was made on the matter and will be considered at a future meeting.
The Lawrence County Council voted earlier this year to split the 15 percent from fees from the Lehigh TIF district between the RDC and the Lawrence County Economic Growth Council. The first year of the Lehigh TIF district, will not see any significant revenue. This is due to a 100 percent tax abatement beginning the first year.
While construction is underway at Lehigh, TIF revenues are not expected for at least three years.
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