Wednesday, July 30, 2014

Committee partially restores funding for economic development
During it's Monday evening meeting, the Cocke County Finance Committee voted to cut funding for the Partnership by $66,000, but on Tuesday some of the reduction was restored. Chair of the county legislative body, Norman Smith made the motion to reduce the funding, but Tuesday said he later contacted the County Technical Assistance Service and was told the county must fund economic development. He was told the move to slash funding violated state law. Smith then made a motion to withdraw the Monday action and to fund economic development, the chamber of commerce and tourism for six months. Although each of the three entities has a board of directors, overseeing it's activities, Smith said he still is told by some in the community that there is a lack of accountability. " My proposal is we fully fund the Economic Development Commission till January 1st.and at that time hopefully there can be another plan put together by the mayor's of the cities and county. There are other plans out there such as the Wilson Plan which counties have adopted, and then let them move forward with that," Smith said. So funding for economic development for the next year is set at $194,200, as well as $75,000 for tourism and $50,000 for the chamber of commerce. That translates into a reduction of $22,000 from last year. The committee agreed to meet at 4:30 p.m. on August 4th, for a final review of the budget, and the full CLB is expected to meet in special session on August 11 to approve the budget. It holds the tax rate at $2.40 but uses up about $6 million of unappropriated surplus in the school system budget. Traditionally the budget collects more in revenue than is anticipated and Finance Manager Anne Bryant-Hurst said departments usually use 94 to 95 percent of their budgeted funds. The committee also voted to recommend that the county require a contractor's license for projects valued in excess of $25,000. State officials have agreed to provide a $150,000 energy grant to upgrade the heat and air system in the courthouse if the county opt's into the building plan. The state also will provide the needed inspector for the building codes.


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