The item concerning the request from Rural King for funding from the city to assist with the company's planned redevelopment of the former K-Mart location it purchased previously was removed from the city council agenda for the April meeting.
Council members at the April meeting
L-R J. H. Graham, Rob Harrison, Mayor James
Mayberry, Art Gernt and Scot Shanks.
While no comments were made about the matter at the time, following the meeting City Manager Greg Wood and others said that the item was removed from the agenda at the request of Rural King.
Last month the city approved providing the necessary city building permits for the project without charge to the company, a saving that at the time was estimated to be worth some $2,600. City officials said that the company has already taken out building permits and work is expected to start on the project right away.
Rural King had requested funding a $300,000 “loan” from the city that they wanted to have considered paid back by the increase in sales tax collections from the new store operation. City attorney Will Ridley had advised the council that was not allowed under state law and instead, a proposal for a payment in lieu of taxes and a $300,000 loan at a low-interest rate had been proposed.
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