The Mitchell County Board of Supervisors voted Tuesday to enter into loan agreements for tax increment financing projects totaling $3.6 million.
The supervisors voted 2-1, with Chairman Steven Smolik voting no, to enter into a $2 million taxable general obligation county urban renewal loan agreement for Phase 2 of the Mitchell County Economic Development Commission's incentive program for commercial and residential construction.
Smolik has said in the past he doesn't think the county has a housing shortage, but even if it did, the problem should be fixed through private funding.
The supervisors voted 3-0 to enter into a general obligation urban renewal loan agreement for the following TIF projects:
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• $1 million for gravel for maintenance on unpaved secondary roads.
• $500,000 toward removing the Otranto Dam to increase recreational opportunities on the Cedar River.
• $100,000 toward Mitchell County Conservation's planned purchase of the Robin's Nest property west of Osage so it can be turned into a wildlife area.
Read next week's Mitchell County Press-News for more details.