Wednesday, November 25, 2015

Mayor Martin Provides Information on Payments to Intermodal

Warren Mayor Bryan Martin has provided information to inform the citizens of Warren about the investment the city has made, to date, into the Southeast Arkansas Regional Intermodal Authority.  Beginning in 2000, Warren has paid $595,134.92  to the project.  Various grants have reimbursed  Warren $284,134.91 to leave the city with a net investment of $311,000.01.  According to state law and the agreement that set up the authority, the City of Warren owns one fourth of the facility.  Warren has three positions on the intermodal board, nominated by the Mayor and confirmed by the city council. Currently representing the City of Warren on the authority board is Roger George, Rick Warner and Dr. Robert Smalling.

Over the years the city has utilized sales tax funds, designated for economic development, to pay the city's contribution.  All expenditures have been authorized by the Warren City Council.

While the intermodal park is located solely within Drew County, an agreement among the four entities that own the authority, calls for a sharing of taxes generated by business activity within the intermodal facility.  The primary purpose of the authority is to create jobs in the region.  The estimated worth of the intermodal park is approximately $7,298,865.00.  The park is located just east of Wilmar, Arkansas.


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