Commissioners will consider loan for fundraising assessment

Oct. 20, 2013 @ 05:02 AM

The Lee County Board of Commissioners will consider a $150,000 loan to the Lee County Economic Development Corporation for a fundraising assessment at the board’s regular meeting next week, scheduled to begin at 6 p.m. Monday at 106 Hillcrest Drive.

Commissioners previously have voted to support an effort to develop a new public-private economic development organization in Lee County that would merge the EDC and the Sanford Area Chamber of Commerce. Commission Chairman Charlie Parks has served on a steering committee which is in the process of providing recommendations regarding the structure, goals and objectives of the organization. 

The loan, which would be made using the Frontier Spinning/Golden Leaf Loan Fun, would be used to assess the potential success of fundraising for the entity and for a subsequent public-private funding campaign. The fundraising assessment is scheduled to begin in early November, so County Manager John Crumpton is recommending commissioners approve the loan during Monday’s meeting. Of the $150,000, $30,000 will be disbursed immediately to help pay for the assessment. The loan will be paid back over a five-year period through the subsequent fundraising, based on a MOU (memorandum of understanding) previously approved by commissioners.

Also at Monday’s meeting, commissioners will also consider reappointments to the Juvenile Crime Prevention Council, hold public hearings on two grants, and hear a presentation updating the county’s space needs study from architect Tim Sherman, updating a plan he completed in 2007. In addition, commissioners will consider a series of budget amendments and consider approving an agreement with the N.C. Dept. of Public Safety for the housing of misdemeanant offenders being housed at the Lee County jail.