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Commissioners to meet Friday to discuss Flying J truck stop financing

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Posted: September 27, 2007 7:48 p.m.
Updated: October 14, 2007 5:00 a.m.
    The County Board of Commissioners will meet today at 1 p.m. to discuss the financial implications to the county of the Flying J truck stop - a proposed 22-acre development at the corner of 301 South and I-16. The project would need a water and sewer infrastructure backbone extended south to the site, along a six mile stretch of 301 from the Gateway Industrial Park to the highway.
    To help facilitate the development, the city and county would work together to procure an infrastructure loan from the Georgia Environmental Facilities Authority - a state agency that provides low-interest loans to local governments for water and sever projects. The current propoal calls for the 20-year, $6 million loan to be paid for out of the additional Special Purpose Local Option Sales Tax (SPLOST) funds the development would generate inside the county. The annual debt service is about $490,000.
    County Manager Tom Couch said the county is optimistic about the project but a few details still need to be worked out. Commissisioners will discuss the project at today's meeting.
    In order to secure the SPLOST funds for the loan, Flying J would need to enter into an arrangement with the city, county and the Board of Education. They would agree to make up any shortfall, should the SPLOST money generated by the project fall short of the annual debt payment.

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