Madison County’s industrial development authority members reviewed a proposed 2012 IDA budget July 18, but took no action.
The group won’t officially approve its budget for next year until the county digest (total property value) is finalized. The digest is expected to be down this year, but not as much as the initial projections of nine to 10 percent.
The IDA’s budget is split into two categories: the general fund and water and sewer enterprise fund.
The general fund budget for 2012 is expected to drop from $562,880 to $511,200. The IDA projects a decline in property tax revenues from $536,103 to $499,410. Of that money, $405,000 will be transferred to the water/sewer enterprise fund to help cover debt relief payments of $638,000 in 2012 for multiple water and sewer projects in recent years. The county now has over 100 miles of water lines. The portion of debt relief not covered by property taxes will be paid for with water/sewer service revenues.
The overall water and sewer budget for 2012 is projected at $4 million. But IDA executive director Marvin White explained Monday that $2.8 million in projected revenues and expenses are contingent on approval of funds from the Georgia Environmental Finance Authority (GEFA) and the United States Department of Agriculture (USDA) for 2012. White said applications for grants and low-interest loans must be filed a year in advance. The authority has already applied for $2.5 million from GEFA and $300,000 from the USDA for 2012. White said the IDA intends to expand sewer services down Glenn Carrie Road to Hwy. 72, making the services available to businesses and residents in the area, including those with existing septic issues. He estimated the sewer expansion costs at $1.8 million, with another $1 million spent on expanding water services from Foote McClellan Road to Spratlin Pond, then between Piedmont Road and Millbrook Lane.
In other matters, White gave an update on the latest IDA project, which includes installing water lines down Neese Diamond Hill Road, across Hwy. 106 South, then down Neese Commerce Road to Hwy. 98 West to the county line. Water lines are also being extended from Neese-Diamond Hill Road down Hwy. 29 South to Bryant Drive. This project includes 67,000 feet of pipe.
White said the Hwy. 29 portion of the project should be done within the next week. The water line up Neese-Commerce Road to Hwy. 98 has been installed and will be tied to the Commerce water system at Double Oaks Golf Course sometime in the next few weeks.
Utility director Steve Shaw said the IDA has received about 35 requests to tap on to the new water lines.