The first JDA will manage the park on a day-to-day basis while the second JDA will own the land and reimburse the first JDA for any out-of-pocket expenses. It is the same agreement the first JDA approved during its Sept. 17 meeting, while the second JDA approved it during its Tuesday meeting.
“They are basically your manager at the park,” Cartersville Assistant City Attorney Keith Lovell told the second JDA board. “They will handle the enforcement of the covenants. They will handle all the receipt of all the funds, all the obligations with respect to how the payments are coming in, managing all the bond issues, managing the leases, taking care of the park itself, things like landscaping. ... This basically just formalizes all of that.”
According to the contract itself, the management agreement is slated to run through Dec. 31, 2018. Lovell stated the bonds involved in the project would likely be paid off by that date. However, there is a provision for the agreement to be extended for up to five 1-year terms. Attorney Boyd Pettit, representing Bartow County, added the contract could be terminated before 2018 as well.
The board also approved the minutes for its June 4 meeting and received its June, July and August financial statements.
Cartersville-Bartow County Economic Development Executive Director Melinda Lemmon gave an update on the park itself. She said businesses continued looking at the park, but her department was not close to getting another occupant. However, she said various business representatives had toured the park by themselves and later contacted her department for more information, which made her appreciative of the upkeep and improvements going on at Highland 75.
“The key thing for us, from an administrative point of view, is the lights in the park look really great now along the parkway,” she said. “It’s starting to look like an entrance to a place, an employment center, so that’s pretty exciting too.”