Economic group hears reports on area projects

By Amye Buckley
Posted May 19, 2010 @ 01:38 AM
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Building projects, economic efforts around the county and interest abatement from a federal bonding program were part of the discussion Tuesday morning during the Newton County Economic Development Commission meeting. 

In Stella, the community expects to see construction on their FEMA shelter by June. The town picked an exposed aggregate look for the exterior and the prefabricated panels have been ordered. More playground equipment has been donated for the city’s park, but they are waiting for better weather to install it. A Memorial Day celebration has been planned and the Veterans’ Memorial has more than 500 names listed on its bricks.

“It’s paid for itself completely,” said Stella representative Bob Hart. 

Diamond planning and zoning is seeing new building projects and a city sewer project is moving along. Casey’s – formerly Barb’s One Stop – is undergoing an interior remodel.

Granby reported they are still trying to set up a restaurant in the former Hillbillies. Spring brings a lot of interest and they came close this year. Granby Telephone’s fiber optic cable project is moving forward and the first phase is nearly completed. The company will continue to lay cable in town and west of town.
Newtonia had several events planned last week that were postponed due to rain. They saw nearly 50 people at their storm shelter, including some travelers through town.

Neosho has a new eatery in the Neosho Family Restaurant. The commission discussed the state of Neosho’s proposed Transportation Development District. The TDD would improve traffic flow around the middle school and near Lowe’s.

Revenues for the county are down 7 percent, 10 percent down including a budgeted decrease, said Jerry Carter, presiding commissioner.

 “It’s in the car sales,” Carter said. “If you took the top 10 sales tax producers in the county,” he said, “they’re OK.”

Licensing fees support part of the county’s budget. Incoming revenues are down this year. In 2008, the county saw $900,000 of income from Department of Motor Vehicles taxes; this year it was $500,000. That drop alone, Carter said, has made a difference in their budget. The county, however, is still financially stable and is cushioning the drop in income by using reserves.

They first saw negative numbers on sales tax projections in November 2008. Carter hopes the numbers will return to their previous level so they can begin adding more projects and services.

An estimated $600,000 proposed safe room for downtown Neosho has been put on hold. At one point the county discussed building the tornado shelter, with occupancy of 500, at the historical park.

Building projects, economic efforts around the county and interest abatement from a federal bonding program were part of the discussion Tuesday morning during the Newton County Economic Development Commission meeting. 

In Stella, the community expects to see construction on their FEMA shelter by June. The town picked an exposed aggregate look for the exterior and the prefabricated panels have been ordered. More playground equipment has been donated for the city’s park, but they are waiting for better weather to install it. A Memorial Day celebration has been planned and the Veterans’ Memorial has more than 500 names listed on its bricks.

“It’s paid for itself completely,” said Stella representative Bob Hart. 

Diamond planning and zoning is seeing new building projects and a city sewer project is moving along. Casey’s – formerly Barb’s One Stop – is undergoing an interior remodel.

Granby reported they are still trying to set up a restaurant in the former Hillbillies. Spring brings a lot of interest and they came close this year. Granby Telephone’s fiber optic cable project is moving forward and the first phase is nearly completed. The company will continue to lay cable in town and west of town.
Newtonia had several events planned last week that were postponed due to rain. They saw nearly 50 people at their storm shelter, including some travelers through town.

Neosho has a new eatery in the Neosho Family Restaurant. The commission discussed the state of Neosho’s proposed Transportation Development District. The TDD would improve traffic flow around the middle school and near Lowe’s.

Revenues for the county are down 7 percent, 10 percent down including a budgeted decrease, said Jerry Carter, presiding commissioner.

 “It’s in the car sales,” Carter said. “If you took the top 10 sales tax producers in the county,” he said, “they’re OK.”

Licensing fees support part of the county’s budget. Incoming revenues are down this year. In 2008, the county saw $900,000 of income from Department of Motor Vehicles taxes; this year it was $500,000. That drop alone, Carter said, has made a difference in their budget. The county, however, is still financially stable and is cushioning the drop in income by using reserves.

They first saw negative numbers on sales tax projections in November 2008. Carter hopes the numbers will return to their previous level so they can begin adding more projects and services.

An estimated $600,000 proposed safe room for downtown Neosho has been put on hold. At one point the county discussed building the tornado shelter, with occupancy of 500, at the historical park.

Drawings for the jail expansion may stop at that if revenues do not increase. The county commission is optimistic.

“We are designing an expansion on to the jail,” Carter said, “betting on the fact that the economy will rebound.”

The county elected not to issue Recovery Zone Bonds awarded to them through the American Reinvestment and Recovery Act.

“We would have like to have used them,” Carter said. “But this did not seem like a good time to go into debt.”

Local entities with upcoming shovel-ready projects can apply through the county commission to receive a rebate on their interest, as long as they have not already issued their bonds.

There are two types of bonds available for issue through the program: Recovery Zone Economic Development Bonds – used for public projects – and Recovery Zone Facility Bonds – issued for private projects. Both are similar to the Build America Bonds, also created by the ARRA. The economic development bonds, if issued for a city or county reimburse part of the interest. For the private projects, the facility bonds are tax-exempt for investors, that should drive down the interest rate for the company issuing the bonds. The county qualified to issue either $1.456 million in economic development bonds or $2.199 million in facility bonds.

Carter said the county is willing to help, but warned that entities will have to stand on their own credit to issue the bonds. When he called the state, only four projects statewide had moved forward.

“We are open to allocating those to any public entity or private entity that wants to get into that program,” Carter said.

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