County buys land in industrial park with RDA loan
Published: November 19,2013
Tags: acquisition, economic development, Golden Triangle industrial Park, GTR Global Industrial Aerospace Park, industrial real estate, loan, Lowndes County, purchase, Ralph Billingsley, Rural Development Authority
COLUMBUS — Lowndes County will spend $5.5 million on three tracts of land at the GTR Global Industrial Aerospace Park.
County administrator Ralph Billingsley tells The Commercial Dispatch that the county is using money borrowed from the Rural Development Authority in 2011.
Billingsley says the county initially borrowed $13 million from the RDA to finance land purchases and infrastructural development west of Golden Triangle Regional Airport.
Billingsley says the county drew approximately $6.5 million upon first agreeing with RDA on a general obligation bond. The RDA has held on to the other half since then, with the exception of a $300,000 land purchase earlier this year, so the county didn’t have to pay interest on it.
Billingsley says the land already has water, sewer and power.
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Peavey's wellness program honored after workers drop 1,000 pounds
- Pickering lists concerns over Mississippi Adequate Education Program formula
- Group, lesbian couples look to overturn state's ban on same-sex marriages
- Watkins says JRA out to block him from Farish by repaying HUD $1.5M
- Mississippi Film Studios signs contract with New Orleans company
- State renews battle over water use with city of Memphis
- Mars Food expanding Delta plant; investing $31M and adding jobs
- DAVID DALLAS: You say “Obama”, I say “Ebola”
- Biloxi baseball project still alive but may be held for 2015