A meeting was held yesterday with county officials to discuss the funding of the Hamlet West Infrastructure project. Starke County Economic Development Foundation Director, Charles Weaver, has a synopsis of the meeting.
“The meeting came about because we’ve finalized the grant reimbursement with the Economic Development Administration (EDA) which we turned a little more than $128,000 this last last draw for the project. With the completion of the EDA part of the project, we can now go back and do the final billings to the State of Indiana under the Industrial Development Grant Fund, as well as to TIF bonds managed by SYSCO. This will allow the county to be reimbursed, in whole, for the project.”
The project was originally estimated to cost $4 million and came in at $3,500,000. The Development Foundation will bill the EDA and the TIF Bonds and that figure will total $311,264.00.
The Starke County Commissioners relinquished an OCRA Grant because SYSCO postponed its start date on a giant project in Hamlet. Because of that delay, SYSCO agreed to allow the County to receive up to $500,000 from the TIF Bonds, that were otherwise to be used by them towards expenses. From that money, the county will receive $194,264.