Seyb teases board with payment to SIREPA

MOMENTS

I really, honestly believe this is one of those moments. We have those moments that mean something that are generational in what we do.”

Garry Seyb, Lee County Supervisor

LEE COUNTY – A suggestion to have Lee County make a principal payment on the Lee County Economic Development Group’s corporate offices in Montrose met with some raised eyebrows at Tuesday’s Lee County board meeting.
Supervisor Garry Seyb, who is non-voting member of the Southeast Iowa Regional Planning Commission and Southeast Iowa Regional and Economic Port Authority made the suggestion during his comment time at the meeting.
Seyb said the payment, which would be reimbursable in the event SIREPA were to sell the property, or a forgivable loan, is an investment in Lee County. And he just wanted to put it on the board’s radar.
“I just didn’t want anyone to be surprised if it showed up as an agenda item in the future,” he said.
The building is currently being financed through Connection Bank at $1 million and no principal payments have yet been made. At SIREPA’s last board meeting the board voted to make a $250,000 payment on the principal to build equity in the property.
Seyb told the SIREPA board they should consider approaching the county for some funding, as well. He’s proposing a matching $250,000 payment from the county’s reserve funds as a commitment from the county in the work that LCEDG, SIREPA, and SEIRPC are doing to position Lee County for the future.
“It’s been a huge commitment to our organization by the bank,” said Emily Benjamin, LCEDG President and CEO.
“We have great communication with them and they have full faith in our organization and our plan for the building in the future and our ability to pivot when things don’t go as planned,” she said.
The facility is now looking at creating a countywide child care center as surveys have indicated that Lee County is what Benjamin described as a “child care desert”. The facility was being touted as a Career Advancement Center with area students taking part of career-oriented programming for the past several years. However, that program has now been moved to Southeastern Community College’s Keokuk campus where a lot of the technology and equipment needed for the programs was already in place.
Seyb said he was very happy with the board’s initial response.
“I really, honestly believe this is one of those moments. We have those moments that mean something that are generational in what we do,” he said.
He referenced the resolution to build the health department and EMS facility.
“LCEDG has been traveling around Lee County and has successes and its ebbs and flows. But it’s a rocket ship right now. It truly is and we are united. It’s not disjointed,” Seyb said.
Seyb said he just wanted to put it front of the board and said he thinks they can afford it.
Supervisor Chuck Holmes asked if the cities of Keokuk or Fort Madison had considered contributing anything to the effort.
Seyb said his motivation was sitting in the meeting and listening to the leaning-forward efforts of those involved in economic development.
“This has been the catalyst for bringing Lee County together. Businesses together, communities together, school districts together.”
He said the broadband expansion was born out of those efforts and now childcare expansion. A contribution from the county would help solidify the finances there and help them to start getting that building paid for.
Seyb said this also shows that the county is working well together and that could be instrumental in how the state views Lee County as they continue to work on restructuring funding streams for counties going forward.
The money would likely come from county reserve funds that were generated by speed camera revenues from people who were speeding through the county.
“This shouldn’t have anything to do with our budgeting process. These funds would be non-taxpayer dollars that are not used for operational expenses,” he said. “It’s not based on property tax and it should not be used therefore for our operational budgets. I’m not asking us to spend money we don’t have.”
No action was taken on the issue as it was brought up during the supervisors' individual reports to the board. There was also no indication when or if the action would be placed on an agenda.