Project would bring 3 new businesses Camden News 2/18/10 By DONNA COLLINS Staff Writer If a local developer can bring to fruition a proposal that includes a hotel, restaurant and an assisted living center, Ouachita Partnership for Economic Development will cover the cost of extending needed city sewer and water service infrastructure.
The decision to cover the cost through OPED’s retail development incentive fund was made by OPED board members Wednesday during the board’s regular monthly meeting.
The board also approved spending $5,000 to $8,000 to have an engineering team assess the cost to raise the roof of the former General Dynamics building near Camden Regional Airport.
James Lee Silliman, local land owner, told board members Wednesday that he is working to develop a restaurant and an assisted living on land he owns near the Comfort Inn off the Arkansas 278/79 Bypass.
Charles Shinn, who owns Camden’s Comfort Inn and Holiday Inn Express, told the board he wants to build a 63-room Roadway Hotel on land he owns near the Comfort Inn.
Silliman, who is also executive director of the Camden Area IndustrialDevelopment Corporation, and Shinn want the $154,000 to cover the cost of a 20-inch boring under U.S. 278, installation of a 10-inch sewer line and manholes, and a 6-inch water line.
The incentive funds for the project would come from a $450,000 retail development incentive pool the Camden City Council established and contracted with OPED to appropriate.
OPED executive director Norm MacNeill said the development project is projected to generate $187,350 in sales taxes during a three-year period.
OPED president Searcy Harrell said the incentive would not be paid unless all three projects included in the proposal are complete. Harrell added that he would expect the city to replace the funds once generated taxes cover the cost of the project.
The vote to support the matter was unanimous.
In the other matter the board agreed to pay for engineers to provide a cost estimate on raising the roof at Highland Airport Facility. The board agreed to have the Canadian firm Rooflifters do the estimate.
OPED markets the building owned by Highland Industrial Park. One reason the building remains unsold is because the roof is too low to accommodate most manufacturing uses and storage.
MacNeill said that state economic developers are assisting with marketing the site.
MacNeill explained that OPED needs to be able to tell any interested buyer how much raising the roof would cost. Estimates indicate it could cost $2 to $2.5 million to lift the 16-foot ceiling to 32 feet. |
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