STARKVILLE — The Greater Starkville Development Partnership Board of Trustees and Mississippi State University are backing the Golden Triangle Development LINK’s plan to develop almost 400 acres northeast of the Highway 25-Highway 82 interchange into a new industrial park.
The Partnership board issued a resolution Thursday urging Starkville aldermen to support the project over an alternative that would develop a smaller park south of the municipal airport.
Additionally, MSU Vice President for Research and Economic Development David Shaw released a similar statement of support, saying the proposal would take Oktibbeha County’s economic development efforts “to an unprecedented level.”
“We must not waste it,” Shaw said of the proposal in his statement. “Not having a 21st-century park is holding us back. In my three decades at Mississippi State, I have seen a lot of great changes take place in our community when people make tough decisions and invest in the future. I believe that we can do that again by developing this new industrial park.”
The GSDP resolution and Shaw’s statement were issued ahead of Tuesday’s board of aldermen meeting, when board members are expected to pick a path forward.
Copies of the resolution were signed by GSDP board Chairman Michelle Amos, Vice Chairman Jerry Toney and immediate past Chairman Richard Hilton. The resolution will be forwarded to Mayor Parker Wiseman and Starkville’s seven aldermen.
‘An investment, not an expense’
“Why does this matter? Simply put, jobs. The investment in an industrial park today helps secure a future for Oktibbeha County,” Amos said in a statement. “We must look at this as an investment, not an expense. The addition of industry helps strengthen our tax base, creating a foundation beyond rooftops. In the long term, this helps create additional tax dollars for the infrastructure needs … that can’t be maintained on rooftops alone.”
Option No. 1 — also known as the Strange, Stanley and Waldrop project — would purchase and develop approximately 384 acres for industrial development west of the Highway 82-Highway 389 intersection.
Specifically, it would provide 13 individual lots (192.98 acres), a 28.3-acre site for a potential speculative building, a 6-acre site for a 4-County Electric Power Association substation and a 157.3-acre parcel for a large industry or future expansion options.
LINK representatives previously estimated the entire proposal, including pending projects to extend natural gas infrastructure and increase the site’s electrical capacity, would cost a combined $30 million.
Locally, the city and county would be on the hook for $14 million in combined bond issuances. Additional monies could come from Starkville Utilities, LINK representatives said in March.
Supervisors previously dedicated $7 million toward the project, and the LINK seeks a similar contribution from aldermen.
4-County also committed $4 million to boost the site’s power capacity to 60 megawatts, and a natural gas line extension was forecast to cost about $10 million.
Property tax increases expected
To service the debt, property tax increases are needed from both the city and county.
One tax mill brings in approximately $327,335 to the county’s coffers, while Starkville receives almost $225,000 per mill.
Early county estimates show a 15-year debt service plan for its $7 million bond package could necessitate a 1.8-mill property tax increase, while a 20-year plan would require about a 1.48-mill tax hike, County Administrator Emily Garrard said earlier this Month.
City officials have not forecast a potential millage increase for its portion, but a talking points memo issued by the Partnership estimates a combined city-county tax hike would cost a Starkville homeowner an additional $44 per $100,000 worth of assessed property. A county homeowner would pay an additional $18 in annual taxes per $100,000 worth of assessed property, it estimates.
Starkville has $22 million in bonding capacity, while Oktibbeha County has $30 million in capacity, the memo states.
Previously, both boards each pledged $5 million toward developing the Innovation District before the LINK abandoned the project due to costs and delays associated with clearing the site of potential artifacts.
LINK Chief Executive Officer Joe Max Higgins said similar artifacts are present at the Strange, Stanley and Waldrop properties, and landowners must agree to lower their prices to allow the LINK to cover mitigation efforts.
The parcels are under a purchase option through the summer, Higgins previously said.
Carl Smith covers Starkville and Oktibbeha County for The Dispatch. Follow him on Twitter @StarkDispatch
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