A proposed $39 million Tradeport East water reclamation project could put Liberty County’s annual exposure under a bond guarantee at $1.3 million to $1.4 million in a worst-case scenario, Commission Chairman Donald Lovette said. Commissioners reviewed the financing at a Wednesday workshop, but have not voted on the guarantee.
The project is intended to serve growth around Midway. Its total price includes design and contingency; about $32.5 million is set aside to build the first phase, designed to handle 500,000 gallons per day, financial advisor Trey Monroe said.
The plan relies on Laurel View Properties purchasing at least 150 sewer connections each year for 20 years. At a price of up to $13,200 per connection, the annual commitment would total about $2 million. The Industrial Authority would issue the bonds, while the county would act as a limited guarantor with its obligation capped at a set annual amount.
Monroe said slower-than-expected home construction could leave the county and authority facing a shortfall of a few hundred thousand dollars to $1 million in a year. If development meets projections, he said, the system would pay for itself. Lovette said he does not expect the county to have to contribute money.
A separate decision about discharge remains unresolved. Lovette said the county is waiting for a state study comparing the Laurel View and North Newport rivers; he hopes it will be available by the end of November. He also wants the commission and Development Authority to meet together next.
Yolonda Harris
News Now Georgia
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