Mount Pleasant City Commission approves funding to stimulate local economic growth
The Brownfield Redevelopment Finance Authority will receive $150,000 from the Economic Development Corporation to encourage economic development in Mount Pleasant.
The Mount Pleasant City Commission approved the transfer in a 5-1 vote on Monday.
Commissioner Jon Joslin voted against the proposal and Commissioner Sharon Tilmann was not present.
Some commissioners cautioned transferring the money to the EDC because once the money is moved the city commission has no control over what the EDC does with it.
“I’m in favor of economic development,” said Commissioner David McGuire. “The taxpayers elected us to spend money responsibly.”
Due to concerns about fiduciary responsibility to the taxpayers, parameters were formed for the EDC to follow in relation to how the money is spent.
The money must assist area non-retail companies and the EDC must provide quarterly reports to the city commission detailing the total cost and project progress. It also must develop criteria for the allocation of funds and report criteria to the city commission.
After one year, the EDC must return the unused money unless the city commission decides otherwise.
Originally the proposal would require the transfer of $250,000 from the Brownfield Redevelopment Finance Authority to the EDC, but the commissioners amended the proposal so $100,000 would be transferred to the general fund and would be available to the EDC if the entity determined the extra amount is necessary.
The city commission requested the EDC let them know if additional funds are needed within a couple of weeks.
“I’m not here to tie the EDC’s hands,” Joslin said. “Giving them some flexibility to go out and do what they are supposed to do—which is to go out and create incentives for economic development in our community—is what we should do.”
Other business
The city commission set a public hearing for Sept. 27, for the proposed conditional rezoning of properties located at 1116 E. Pickard, 1202 E. Pickard and 802 N. Brown to rezone the south 50 feet of the property from R-3 residential to C-3 general business.
Another public hearing is set for the same date to discuss a proposed ordinance amendment that would require residential buildings, such as duplexes in office districts, to have a permit to be used as residential buildings.
