In all, the commissioners unanimously approved
The largest award went to
It is the biggest loan approved to date under the county's tax increment financing program for the Unorganized Territory, said
The processing plant will have a slight impact on farm employment, according to Daye, enabling about three to five part-time workers to increase their hours to full-time status.
The commission approved a TIF grant three years ago that enabled the farm to increase poultry production. After also receiving a planning grant to look into a processing facility, the farm owners "found that this could work," Daye told the commissioners.
The loan will be collateralized by a "hodgepodge" of assets, said Daye, including an investment portfolio.
"You know it's a lot of money," added Commissioner
The owners of the farm have shown "they're not afraid of a day's work," said Gardner.
The processing facility is going to be important to the farm going forward, indicated Tide Mill owner
"The ability for us to efficiently package poultry" is just as important as raising chickens, said Bell.
The chicken processing plant will be contained in a new 40-by-60-foot building, Daye said Friday. The farm also plans to erect a second structure where it can raise chickens year-round.
The farm produces about 10,000 chickens annually, according to Daye.
"They hope to double that" in coming years, he added.
Construction will start "as soon as possible," said Daye.
The TIF funding was the last piece of financing needed for the project.
The three commissioners also unanimously approved TIF grants and loans for four other projects even though a committee that reviews the requests recommended denying the loan for one applicant and reducing the grant amount for another.
In briefing the commission on a request by
The goal of the TIF program is to help businesses that otherwise may not be able to obtain bank financing, noted Cassidy.
"We don't want to act like a bank," said Gardner. "We have to be willing to take a couple of chances."
The commissioners ended up approving the TIF loan as well as a
"I'll step out on a limb," said Commissioner
The commission also approved a
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