The Cass County Board of Supervisor’s Wednesday, tabled action on a request from Elite Octane, LLC ethanol plant representatives, for a financial assistance package from the County, until lawyers for the County and Company can come together to present some solid numbers on what the County’s obligations would be. Elite Octane wants to construct an ethanol plant in Cass County, and requests to use property tax revenues generated by the increase in valuation due to construction of the facility (Tax Incremental Finance) for the project.
The Board discussed: the assessed value of the proposed 120 million gallons-per-year facility, which is estimated to be anywhere from $27-to 33-million dollars; taxes generated (estimated $750,000 to $900,000 in new taxes each year); county and city infrastructure expense; legal counsel; and a financial assistance package. The matter was then taken under advisement, with legal counsel for both entities expected to bring more substantial information to the next meeting.
And, while the company requested the Board of Supervisors set Dec. 7th as the date for a public hearing on a financial package, it’s questionable if negotiations can move along that quickly. If all the chips fall into place, the company has promised the creation of 49 new jobs with 45 of them paying more than $18.50 an hour.
In other business, the Cass County Board of Supervisors heard from representatives of the Cass County Agricultural and Educational Association, the Fair Board and the Fair Grounds Committee, who reported on how the money contributed by the county is used. They asked the board to consider an unspecified increase in the annual contribution (currently $58,000). The request was taken under consideration.
And, an organization offered to provide Christmas lights to decorate the evergreen on the northwest area of the courthouse block. The County would need to run power to near the tree and have the lights installed. Lights would remain on the tree year round. A bid was obtained for power installation and hanging of the lights. A motion was made by Duane McFadden, and seconded by Chuck Rieken, to accept the proposal to provide Christmas lights and the bid of $1,500 to install power and hang lights. After discussion and a roll call vote, the motion failed. Gaylor Schelling and Duane McFadden voted in favor, Frank Waters, Chuck Rieken and Mark Wedemeyer voted against it.
The Board also adopted a Resolution abating the taxes, interest and penalties on a parcel of land now owned by the City of Griswold, and as allowable under Iowa Code.
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