And what about all that land?

In addition to a news story about Brad Lofton moving on up to Myrtle Beach, the Valdosta Daily Times also had an editorial yesterday (14 March), Lofton’s leaving a void in which they make some good points, including:

While the search is on for a new director, now is the time for the city, county and industrial authority board to come together to make some decisions about the organization and what the community leadership needs and wants it to be.

Here are a few modest suggestions along those lines, including considerations such as water.

More from the VDT:

Parameters on the types of industry would be a good place to start, followed by decisions on how all of that tax money the industrial authority is now receiving should be spent.

That would be 1 mil or $3 million a year in local tax money and let’s not forget the $15 million balooning to $23.5 million in bonds and other debt obligations. I’d still like to know does the Lowndes County Commission have a fiduciary obligation to oversee VLCIA because of the inter-governmental agreement for the county to co-guarantee those bonds?

Here’s another good point from the VDT:

They have snatched up acres and acres of property in recent years, but to date, those properties remain empty.

VLCIA’s most recent Annual Financial Report lists $11,573,736 in land assets. I think they’ve said that’s somewhere between 400 and 500 acres. Perhaps VLCIA could explain what is the value to the community of VLCIA owning all that land.

-jsq

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