The Pulaski County Community Development Commission has come up with another way to fund a proposed West Side Industrial Park. CDC Executive Director Nathan Origer says the county could free up some cash by using less of its County Economic Development Income Tax Fund on jail bond payments.
He told the county commissioners last week there’s a separate fund for that purpose, “Fund 1185, which is our Jail Lease Rental Fund. Currently, when the annual payment in made on the jail bond, 50 percent of it comes from this Fund 1185,” Origer explained. “Fifty percent comes from CEDIT, and CEDIT, theoretically, is what would be used if we were to move forward with purchasing some or all of the land on the west side or implementing infrastructure, that sort of thing.”
Origer said that after doing the numbers, it appears there’s enough money in the Jail Lease Rental Fund to cover more of the bond payment. “At the end of last year, that Jail Lease Fund had a surplus of a quarter million dollars, and this is just because the way it’s funded,” he said. “Part of it is property taxes. Part of it is excise tax. What’s been coming in has historically always been at least a little bit more than what the annual obligation has been.”
Following last week’s discussion with the county commissioners, Origer is scheduled to take the proposal to the county council tonight.
Also during tonight’s meeting, council members will continue discussing the county’s salary matrix. Recently, a question has come up about pay raises based on longevity. County officials have discovered that the county’s payroll software would allow the raises to take effect on each individual employee’s work anniversary. But some council members prefer having all of them take effect at once each January.
Tonight’s Pulaski County Council meeting starts at 7:00 p.m. at the Pulaski County Courthouse.
