IDA organizes Capital Resource Corporation

The Madison County Industrial Development Agency (IDA) held its first formal meeting of the Madison County Capital Resource Corporation (CRC) Nov. 19.

The CRC, a not-for-profit, was created at the suggestion of the Board of Supervisors and will be an organization in addition to the IDA. According to IDA Executive Director Kipp Hicks, it will serve two purposes: A way to finance civic facility projects and making the process of transferring land for the ARE Park easier for the county.

In its first meeting, the board members passed several resolutions that resulted in the CRC mirroring the IDA, including the election of officers.

"In the future this corporation is going to be doing things IDA has done in the past," Kipp said, pointing to bonds as an example.

In ARE Park news, Hicks said that the IDA is taking the slow approach in transferring land in order to work with Oneida Indian Nation. He also said that the lumber company and livestock-processing coop for the park are moving forward.

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