Council Considers State Funding Option for Spalding Infrastructure
The state of Oregon feels there is a lack of industrial land throughout the state and has set up the ability of local governments to nominate areas as significant industrial area.
During the Monday Workshop the city’s Economic Development Director, Steve Dahl, pointed to 65 acres in the Spalding area that needs more infrastructure to be considered shovel ready: sewer installation including a lift station for approximately $2 million, water installation at a cost of over five million and solving traffic issues that would add $1.2 million to the cost.
The state has a trial patient capital funding program that would lend the city up to $1.5 million to put in the sewer with interest only payments for the first five years and around one percent following that; plus a credit of between $2,000 to $4,000 per job created in the area up to $400,000.
Councilors asked for more information including how much influence the state could exert at the end of the five years and would it commit the city to the final two phases of the project in a specific time frame.