) STOKES COUNTY GOVERNMENT
COUNTY OF STOKES ) DANBURY, NORTH CAROLINA
) MAY 24, 2006
The Board of Commissioners of the
County of Stokes, State of North Carolina, met
for
special session to discuss the proposed Walnut Cove Library Expansion Project
with the
Town of
Walnut Cove Board of Commissioners in the Commissioners’ Chambers of the
Ronald
Wilson Reagan Memorial Building (Administrative Building) located in Danbury,
North
Carolina on Wednesday, May 24, 2006 at 6:00 pm with the following members
present:
Chairman Leon Inman
Vice-Chairman
Joe Turpin
Commissioner Sandy McHugh Commissioner
John Turpin
Commissioner
Jimmy Walker
County
Personnel in Attendance:
Clerk to
the Board/Interim County Manager Darlene Bullins
Budget
Director Dennis Thompson
Walnut
Cove Board of Commissioners
Mayor
Ken Starnes
Commissioner
Kim Lewis
Commissioner
Polly Goolsby
Commissioner
Dr. Deborah Cowan
Commissioner
Shannon Fenner
Town of
Walnut Cove Personnel in Attendance:
Town
Manager Jack Gardin
Assistant
Town Clerk Sharon Williams
Chairman Leon Inman called the Special Session to discuss the proposed
Walnut
Cove
Library Expansion Project to order.
Commissioner Walker delivered the invocation.
Chairman Inman opened the
meeting by inviting the citizens in attendance to
join the
Board with the Pledge of Allegiance.
GENERAL GOVERNMENT – GOVERNING BODY – PROPOSED
WALNUT COVE LIBRARY EXPANSION PROJECT
Chairman Inman updated those in
attendance with the proposed Walnut Cove
Library
Expansion Project:
·
Walnut
Cove Library Board initiated the proposed library expansion in 2005
and approached both the Boards for funding and have been actively
securing private pledges for the proposed expansion project
·
Stokes
County officials requested tentatively approval from the Local Government
Commission (LGC) in January 2006 to borrow funding for the proposed expansion
project
·
LGC
requested that Stokes County increased the tax rate before borrowing funding
due to the County fund balance being slightly below 8%
·
Since
January 2006, both Boards have collectively been trying to work together to
make this project possible
Town Manager Jack Gardin updated those in attendance with the progress
made by
the
Town of Walnut Cove regarding the proposed expansion project:
·
The
Town has proceeded to secure funds from the USDA Rural Development
·
The
Town requested tentatively approval from LGC to borrow funding
·
LGC
had no problem with borrowing funding
·
Completed
the USDA Rural Development Loan application
·
Received
a letter from USDA Rural Development on 05-19-06 giving notice to the Town of
Walnut Cove that their application for financial assistance had been approved
in the amount of $675,120
·
Notification
from USDA that the amount awarded to the Town of Walnut Cove was the last
funding available during this funding cycle
·
The
Town is currently completing the LGC application
·
Work
now must be decided if both Boards are ready to proceed to work together to
complete this proposed project
The
Stokes County Board of Commissioners and the Walnut Cove Board of
Commissioners
discussed the following regarding the proposed Walnut Cove Library
Expansion
Project:
·
Working together to make the proposed expansion
project a reality
·
Possible shortfall of $375,000
·
Stokes County Board of Commissioners’ pledge of
$200,000
·
Walnut Cove Board of Commissioners’ pledge of
$100,000
·
Scope of the proposed expansion project
·
Funding schedule of the possible debt – loan period =
40 years
·
Possible shorter loan period
·
Interest rate @ 4.30%
·
First payment due one year after the completion of
the project
·
Commitment of both Boards
·
Commitment of the Walnut Cove Library Board to raise
the shortfall
·
Increased cost of the proposed expansion project
·
Total Proposed Project cost = $863,120 which does not
include interest
·
Transfer of the Walnut Cove Library property to the
Town of Walnut Cove
·
Responsibility of the shortfall of the proposed
expansion project
·
Current assets of the Walnut Cove Library Board
·
Outdoor patio will be paved with pavers that will be
sold for $100 which will help to reduce the shortfall
·
Possible scaling down the proposed expansion project
·
Partnership from both Boards to complete the proposed
expansion project
·
Recalculation of total costs resulted in shortfall
estimated only being $297,000 instead of the estimated $375,000
·
Interlocal agreement with Stokes County Board of
Commissioners, Town of Walnut Cove Board of Commissioners, and Walnut Cove
Library Board
·
Partnership sharing the shortfall between both Boards
·
Other possible funding options
The Boards continued the discussion of
partnering together to share the shortfall.
Vice Chairman Joe Turpin suggested a possible 2 to 1 ratio
- Stokes County and the Town
of Walnut Cove sharing the shortfall.
Town
Manager Jack Gardin proposed the following:
·
Stokes County responsible for $200,000 of the
shortfall
·
Town of Walnut Cove responsible for $97,000 of the
shortfall
·
Take available funding when payment time comes due
which gives both Boards 7 years to raise the shortfall funding if the Walnut
Cove Library Board is not successful in securing the additional needed funding
·
Possibly paying the loan off in about 7 to 8 years to
save interest costs
Stokes
County Board of Commissioners
Chairman Inman entertained a motion to
concur with Town Manager Jack Gardin’s
recommendations:
·
Stokes County responsible for $200,000 of the
shortfall
·
Town of Walnut Cove responsible for $97,000 of the
shortfall
·
With expectations the shortfall funding will be
raised by the Walnut Cove Library Board
Vice
Chairman Joe Turpin moved to approve the following:
·
Stokes County responsible for $200,000 of the
shortfall
·
Town of Walnut Cove responsible for $97,000 of the
shortfall
·
With expectations the shortfall funding will be
raised by the Walnut Cove Library Board
Commissioner McHugh seconded and the
motion carried unanimously
Town
of Walnut Cove Board of Commissioners
Commissioner
Kim Lewis moved to approve the following:
·
Town of Walnut Cove responsible for $97,000 of the
shortfall
·
Stokes County responsible for $200,000 of the
shortfall
·
With expectations the shortfall funding will be
raised by the Walnut Cove Library Board
Commissioner Cowan seconded and the
motion carried unanimously.
Stokes
County Board of Commissioners
Vice Chairman Joe Turpin moved to adjourn
the special session.
Vice Chairman Joe Turpin withdrew his
motion to adjourn the special session.
Town
of Walnut Cove Board of Commissioners
Commissioner Kim Lewis moved that any
communication between these two Boards
be performed by a person who has the given jurisdiction to
communicate by appropriation
from each Board and it be in writing or email to avoid any
misunderstanding to all members
of the Board.
Commissioner Shannon Fenner seconded and the motion carried
unanimously.
Stokes
County Board of Commissioners
Commissioner
McHugh moved that all communication with the Town of Walnut
Cove be done by a Board vote and that all communication be
sent to all Board Members of
the Town of Walnut Cove and to the Town Manager. Commissioner John Turpin seconded
and the motion carried unanimously.
Chairman Inman expressed appreciation to
all those in attendance.
Stokes
County Board of Commissioners
There being no further business to come before the Board,
Chairman Inman
entertained a motion for
the Stokes County Board of Commissioners to adjourn the special
session. Commissioner John Turpin moved to adjourn
the special session. Vice Chairman
Joe Turpin seconded and
the motion carried unanimously.
Town of Walnut Cove Board of Commissioners
Mayor Ken Starnes entertained a motion for the
Walnut Cove Board of
Commissioners to adjourn the
special session. Commissioner Cowan
moved to adjourn the
special session. Commissioner Fenner seconded and the motion
carried unanimously.
_________________________ _____________________________
Darlene M. Bullins J. Leon Inman
Clerk to the Board Chairman