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Funding for a New County Building Approved by the CIB

Article Date: 
19 November, 2010 - 06:00

The Community Impact Board, (CIB) at a meeting on November 4, approved funding for the proposed new County Building. The   county is proposing a building to house the animal shelter and better   utilize the cost being paid to a veterinarian to house the shelter.
The county has been struggling with space issues for some time and has been exploring whether this building could solve some of those space problems.
One of the building designs would provide space to move the   Sheriff’s department from the county building to this new   facility.
The county is balancing the need for space with a limited   budget to expend on this structure.
The CIB approved up to $600,000 for the use of the county, although the county has generally been working to keep the project below $400,000.
The funding from the CIB provides the county with a low interest rate as a part of the Federal Government Stimulus plan called the Build America Bond.
The CIB Chairman stated, “This project will meet the growing demands of the county for years to come…By using the Community Impact   Board for financing. This project qualifies for Build America Bonds   and Morgan County will actually have a much lower interest rate than   if they financed the project through a traditional lending   source.”
The county has not yet made the decision to construct this building,   but with the approval from the CIB the county has cleared the final   hurdles to begin the project if it is determined to go forward. The   decision the council will face in the coming months is whether to move   the project forward and what size facility the county can afford to   construct.