County OK’s letter of understanding for industrial park addition
The Franklin County Board of Supervisors approved a letter of understanding Monday that outlined their financial obligations for the expansion of the Hampton Industrial Park.
The Franklin County Development Association (FCDA) announced in late-January plans to build a fourth “speculative” building at the industrial park. The project is a joint venture between the FCDA, Franklin County, Franklin REC and Corn Belt Power Services, and is hoped to draw in a new business and create jobs in the area.
A loan of up to $720,000 will be used to finance the project and will be split between Franklin County, Franklin REC and Corn Belt Power Services. Payments would begin the third year after construction is complete if the FCDA hasn’t sold the building yet.
“They’ll have it sold by then,” said supervisors’ Chair Jerry Plagge.
Read the full article in the February 26 edition of the Hampton Chronicle.