Good News & Bad News

 

By: Pat Hunter

September 1, 2008

 

Thursday's Aug. 28th EDA Executive Board and Board of Directors meeting was full of news.

There are six counties that are “non-economically distressed” and Loudon County is in that group announced Pat Phillips.

 

Phillips named the six counties starting with Shelby County, Williamson County, Hamilton County, Knox County, Montgomery County (Clarksville), and little Loudon County.

 

Loudon County is the tenth (10) smallest geographic area out of 95 counties. Loudon County may be small in size but it's a rich little county that runs with the big dogs.

 

What we lose is that we were a Tier 1 community in that category and a company that comes in with 25 or more employees you would get $2500 or more in tax credits and carry it forward for 15–years to offset your franchise and excise tax.

 

But now, Loudon will get $2000 for tax credits, a difference of $2500. Everybody else gets $4500, Phillips commented. It’s based on income levels and unemployment levels, we went up as did everyone else, Phillips added.

 

Workmen’s Compensation Approved

The EDA employs two full time and one part time positions and the EDA does not have worker’s compensation at this time. For years the EDA was under the jurisdiction of Loudon County government that absorbed those costs and now the non-profit must stand on their own.

 

The Executive Board and EDA Board of Directors voted unanimously to spend $1240 annually for workmen’s comp.

 

Councilman Eddy Simpson, Lenoir City’s representative on the EDA Board, said that it would be “foolish” not to have it. Simpson, a developer is seeking re-election to Lenoir City Council.

 

EDA By-Laws changed

 

The EDA Executive Board and Board of Directors voted to amend the EDA BY-LAWS, Article II, Section IV, regarding the Treasurer. The Treasurer will now be a voting member of the Board.

 

According to EDA Director Pat Phillips this was necessary because of the wording of the Interlocal agreement. It seems that no official on the three (3) government bodies caught the mistake on the Interlocal Agreement, when it was rubber stamped.

 

By approving the Treasurer’s change on the EDA BY-LAWS, this would also be harmonious and consistent with the wording on the Interlocal Agreement signed by Loudon County, Lenoir and Loudon City, EDA personnel said.

 

 

Nomination - 2 old board members to EDA

 

Charlie Bettis was nominated to be the Greenbelt representative on the EDA Board of Directors for another year. It is highly unusual, to nominate someone who was not in attendance but he was unanimously approved.

 

Bruce Giles was also nominated as a member-at-large by Commissioner Bob Franke. Franke kiddingly said that Giles had spoken to him before the meeting, out in the hallway to ask him to nominate him.

 

Giles nomination was unanimously approved by both the EDA Executive Board and the Board of Directors. The three government entities, Loudon County, Loudon and Lenoir City must approve the nominations to the EDA Board.       

 

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09-01-08