The Golden Triangle Development LINK will unveil plans to develop a 400-acre industrial park in Oktibbeha County to various community stakeholders Friday at East Mississippi Community College.
The meeting, scheduled for 10:30 a.m. at the EMCC Lyceum, will showcase timing and cost estimates and the steps needed to make the park become a reality.
In December, LINK Chief Executive Officer Joe Max Higgins confirmed various parcels associated with the site were under option for purchase, and the organization has handshake deals in place to bring 60 megawatts of power and a speculative building to the site.
The power commitment made by 4-County Electric Power Association is 30 times the capacity of Cornerstone Park’s 2 megawatt load. Higgins also said the deal in place for the spec building would construct a 75,000-square-foot facility with the option to increase its size in the future.
Both agreements represent about $6 million worth of projects that won’t be funded by taxpayers, he said.
LINK officials are expected to approach Starkville aldermen Jan. 19 and Oktibbeha County supervisors Feb. 1 for individual $7 million bond intent notices. If approved, the $14 million would pay for site acquisition, infrastructure installation and other costs associated with developing the park.
Each issuance would add about 2.5 mills to the tax rate. Starkville residents would see a 5-mill property tax increase since they fall within both city and county taxing authorities.
Both boards previously approved $10 million in combined bonds for a 326-acre site — the Innovation District — but LINK officials abandoned the project in March after studies indicated the possible presence of cultural artifacts at the location.
Clearing the site would siphon too much money from the project and delay the park’s opening, LINK officials said last year.
Due diligence studies at the new location are expected once the city and county pledge financial support for the entirety of the project.
“Before we spend $25,000-$30,000, we may need to go to (Starkville aldermen) first … because if they’re not going to issue the intent, then we don’t have a project,” Higgins said last month. “Our contract says we have the authority to spend $50,000 on certain costs, and (the city and county) shall reimburse us. I can go ahead and do it, but why spend taxpayer dollars if there’s a chance there’s no support? We’re better stewards of taxpayer money than that.”
Because of the indication of cultural artifacts and the abandonment of the Innovation District, supervisors narrowly avoided raising taxes in an election year. If aldermen approve a tax increase this year, they would do so one year before municipal elections.
Editor’s note: The original story stated the LINK presentation would be held Jan. 14 at EMCC’s CMTE building. On Friday, the LINK moved the date to Jan. 15. at the Lyceum.
Carl Smith covers Starkville and Oktibbeha County for The Dispatch. Follow him on Twitter @StarkDispatch
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