Cannon County Industrial Development Board passed a detailed series of four policies Tuesday (June 4) designed to properly govern the agency in the future.
"They are policies this board will operate under now and in years to come," explained Chairman Randall Reid.
The new policies set down budget making, invest-ments, purchasing and accounting methods the IDB will use in the future. Drafted by IDB vice chairman Doug Bodary the policies are aimed at preventing problems the IDB has endured in the past.
Looking to the future, Reid and IDB member Dean More recently attended a meeting of the Upper Cumberland Development Commission to determine "what's going on, what's available for Cannon County," Reid said.
"That really highlighted what we don't have in this county, which is not something we can resolve tonight," he continued.
For example, the Tennessee Valley Authority is making matching grants available for industrial recruitment.
"We in Cannon County aren't ready for this," Reid said. "The biggest problem is that we don't have a plan.
"We're not ready to take advantage of free money (from TVA," he said.
This is not a site certification program, it can cover roadways, roofs and even sewage lines. There is no limit on the number of projects, Reid said.
One major hang-up, the IDB discovered is that Woodbury's Sewer Treatment Plant is nearly at full capacity. Only 10 more urinals would bring the sewer plant to its maximum. "City officials were shocked to learn this," Reid said.
"This highlights where we are in this city/county. We are at the point where this could hinder us from bringing in a plant," he said.
Related to this, Reid, Bodary and IDB treasurer Mindy Gunter recently met with Murfreesboro CPA Randall Matlock and Associates, who will serve as the IDB's accountant. Matlock's firm serves a similar function with Rutherford County's highly successful IDB.