Thursday, September 28, 2006
Chickasaw development may expand
By SUE WATSON
The Marshall County Board of Supervisors will ask its local delegation to support a local and private bill to expand the Chickasaw Trail economic development area.
The bill would allow the Marshall County Industrial Development Authority (IDA) to expand water and sewer service outward from within the industrial park boundaries, approximately doubling the economic development area, according to Bill Renick, IDA director.
Renick said IDA has requests for a lot of development to the west and to the east of the industrial park area.
If the legislation is forthcoming, IDA could expand utility service out of the Chickasaw Trail Industrial Park westward to the DeSoto County line, northward to the state line, east of the park to Highway 311 to include Mt. Pleasant and southward to the Coldwater River.
The Chickasaw Trail economic development area is now bounded by the state line on the north, Barringer Road on the west, Red Banks Road on the east and Highway 178 on the south. This local and private bill would not change the geographical boundaries of the park.
Renick said the local and private bill would ask for authority to do anything in the present law governing the operations of the industrial park.
“This would give IDA an opportunity within that economic area to do anything legal in our authority now, but does not circumvent any laws already there or zoning,” he said.
“This does not say we are going into the water and sewer business but it does say we can,” Renick said.
IDA supports the efforts of the Marshall County Water Association and expansion of the economic development area would in no way infringe on the water association’s certificated area, Renick said.
“The water association has been very cooperative with IDA projects,” he said.
If the commercial development outside the Chickasaw Trails Industrial Park area goes as expected as water and sewer is made available, then IDA will go back to the legislature for help with the construction of new schools in the developing areas, Renick said.
He said he would propose going to the legislature and asking for a portion of the new tax revenues generated from the new commercial development. The new taxes would be used to pay off any bonds issued for construction of a new school in the area if it becomes necessary to build one.
The novel way of financing new school construction costs would side-step the traditional way of financing school bond issues, Renick said.
The board approved a resolution supporting local and private legislation to expand the economic development area via water and/or sewer outside Chickasaw.
Renick also asked for a resolution to participate with the City of Holly Springs in the Holly Springs Commons TIF plan.
“Basically, it says the county will allow a portion of their new revenue from growth at the Commons to go toward reimbursement of the costs of infrastructure - mainly new streets,” Renick said.
The board authorized the resolution to participate in the TIF plan for the Commons.
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