Land deals dis­cussed in ex­ec­u­tive ses­sion

The Covington News - - THE SECOND FRONT - GABRIEL KHOULI gkhouli@cov­news.com

No ma­jor in­dus­tries or in­dus­trial land de­vel­op­ers have been re­cruited to Newton County since Bax­ter In­ter­na­tional in April 2012, but a hand­ful of land deals are at least be­ing dis­cussed.

Newton County In­dus­trial De­vel­op­ment Au­thor­ity mem­bers dis­cussed four sep­a­rate real-es­tate is­sues Tues­day in ex­ec­u­tive ses­sion, in­clud­ing three dis­po­si­tions (the po­ten­tial sale or trans­fer of land) and one po­ten­tial pur­chase.

The ex­ec­u­tive ses­sion lasted just un­der an hour and the au­thor­ity did not vote on any mat­ters in open ses­sion.

In open ses­sion, the au­thor­ity voted to put ap­prox­i­mately $83,000 into the au­thor­ity’s check­ing ac­count or into a money mar­ket ac­count (a type of sav­ings ac­count) af­ter a cer­tifi­cate of de­posit re­cently ma­tured. The au­thor­ity de­cided not to put the money into any short- or long-term in­vest­ment be­cause in­ter­est rates are so low and the au­thor­ity might need the money for one of the real-es­tate deals be­ing dis­cussed, said Hunter Hall, an au­thor­ity mem­ber and pres­i­dent of the Cov­ing­ton-Newton County Cham­ber of Com­merce.

The only other busi­ness was the au­thor­ity’s ap­point­ing of of­fi­cers for 2014, and there was only one change.

Danny Stone, Snap­ping Shoals EMC’s di­rec­tor of eco­nomic de­vel­op­ment, was reap­pointed chair of the au­thor­ity, and lo­cal at­tor­ney Frank Turner Jr. was reap­pointed as the au­thor­ity’s trea­surer and sec­re­tary.

The only change was that County Chair­man Keith El­lis was ap­pointed vice chair­man. The po­si­tion typ­i­cally ro­tates be­tween the chair­man and the Cov­ing­ton mayor, Turner said. Mayor Ron­nie John­ston was pre­vi­ously vice chair­man; he re­mained on the au­thor­ity as a mem­ber.

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