The official agenda for the regular meeting of Oconee County Industrial Authority on Monday is the standard one.
It includes adoption of the agenda and the financial report for the Authority as well as reports from individual members.”
Waller then added two items to the agenda, and the Authority subsequently approved unanimously the spending of up to $375,115 on a contract to beautify Mars Hill Road and preliminarily approved up to $150 million in bond funding to Presbyterian Homes for construction of its Oconee Campus.
Mars Hill Road
The beautification of Mars Hill Road will include the planting of 660 treas of different species along the roadway, beginning at Daniells Bridge Road and running through to Butler’s Crossing.
|Beall With Presentation|
Some of those trees will be planted in the median.
In addition, vines or even a mural will be used to cover the concrete slab at Hodges Mill Road.
Traffic is now running freely along the just completely roadway. Some final sod installation is still ongoing, County Administrator Justin Kirrouac told me last week.
To get state funding for construction of the roadway, the county had to turn it over to the state, which imposed state and federal standards.
Oconee County Board of Commissioners Chair John Daniell told the IDA he expected the state to turn the road back to the county in the fall.
Funding for the beautification project is coming from money the county borrowed through bond sales when it built Parkway Boulevard as part of the expansion of Epps Bridge Centre.
Ken Beall and Associates was awarded the contract for the work Mars Hill beautification.
Jerry Peterson, representing Presybyterian Homes, told the IDA he was asking for preliminary approval for the Authority to issue up to $150 million in revenue bonds for the Presbyterian Village Athens to be located on U.S. 441 at Hog Mountain Road.
He said the bonds would be repaid through funds potential tenants pay as entrance fees, through a United State Department of Agricultural loan for heath centers, and bonds sold to institutional investors and banks.
Jim Woodward, who serves as a consultant to the county on bond sales, said the package proposed by Presbyterian Homes would have no impact on the county, though the Board of Commissioners would have to hold a public hearing before approving.
Alex Patterson from Presbyterian Homes said construction is scheduled for the fall.
I was not able to attend the meeting of the Industrial Development Authority but Sarah Bell did attend and recorded the video below.
Beall began his presentation at 2:35 in the video.
Peterson began his presentation at 22:57.
NOTE:This story has been updated on 8/15/2018 to change the amount of the bond sales from $115 million in the original post to $150 million. I was in the hospital at the time of the May 14 meeting and did not attend. Bell did attend and sent me the video and a note saying the request was for $150 million. From the video, it is clear that Peterson, bond counsel for Presbyterian Homes, used the figure of $150 million in the presentation on May 14, but, at one point, he seemed to say $115 million and also used the figure of $140 million. The actual document signed by Waller, which I received on 8/14/2018, shows the $150 million figure. I apologize for the error, which I should not have made.