DAPC to close soon on Union development, celebrates board members
The Development Authority of Polk County wrapped up their year with a deal they made earlier in the year almost completed and ready to move into the next phase.
During their final board meeting of the year, DAPC CEO Missy Kendrick said the organization is close to wrapping up a closing on 90 acres of property with the International Union of Operating Engineers Local 926’s training facility will be coming up at the start of 2019.
The DAPC was waiting for the union officials to finish up a sale of their Clayton County facility before they turned around and began the move to the Earley property next to Cedartown’s Northside Industrial park.
Once the closing on the portion of the property is completed, the DAPC then plans to move forward with the refinancing of the loan on the rest of the property, utilizing a six-year option to keep paying off interest with addition to the principal after two years are up if the rest of the available acreage hasn’t sold.
The DAPC’s December session also saw the finish for a trio of members who are coming off the board as the year closes. Larry Kuglar, Britt Madden Jr. and Ray Carter were all thanked for their service to the DAPC and the county as a whole as they move on to different roles.
Madden is set to begin his term as a new school board member in January, while Carter is heading to the Polk County Board of Commissioners representing District 3.