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Industrial Authority to get $40,300 a year for GRCP lease

Mitchell Burton submits winning bid. Eleven had asked for bid packets. Five bid for Green River Commerce Park Land. Lease may bring in $201,500 in five years; CACID has option to discontinue lease if land needed for economic development projects

By Ed Waggener

The Columbia-Adair County Industrial Authority will receive $40,300 a year for 281 acres of land in the Green River Commerce Park.

The lease was granted to Mitchell Burton, B&H Dairy, at a bid opening at at the Columbia-Adair County Industrial Authority (CACIDA) office at 201 Burkesville Street, Columbia, KY.

The lease could bring in as much as $201,500 over the possible five-year term. The lease stipulates that CACIDA has the authority of to end the lease on any portion of the land which may be needed for economic development over the life of the lease, Judge Ann Melton said.




Adair County Judge Ann Melton, and City of Columbia Mayor Pat Bell, acting with executive authority, opened the bids on Wednesday, April 30, 2008, at 4:00pm at the CACIDA office in Chamber Building at 201 Burkesville ST, Columbia, KY. Also present was Adair County Chamber of Commerce Executive Director Sue Stivers.

Eleven people picked up bid packets, and five bid on the lease.

The bids received are as follows:
  1. Mitchell Burton (B & H Dairy), $40,300.00 per year
  2. Doug Cox, $29,505.00 per year
  3. Amos Gaskin, $19,299.00 per year
  4. Jeff Bass, $18,119.00 per year
  5. John Arnold, $16,860.00 per year
The successsful bidder has already delivered a check for 10%, or $4,030.00, to the authority on May 1, 2008, the day possession was taken. The balance of the lease is due on or before December 15 of each year the lease runs.

The lease is renewable for four years at $40,300.00 per year.

Judge Melton and Mayor Bell are presiding over the affairs of CACIDA, with input from Columbia-Adair County Chamber of Commerce Executive Director Sue Stivers while a new structure for the Industrial Authority is being readied for proposal to, and approval of, the Columbia City Council and the Adair Fiscal Court.

Judge Melton said that the Industrial Authority has already has over $170,000 in cash reserves.


This story was posted on 2008-05-02 11:36:59
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