The City of Italy and the Italy Economic Development Corporation closed Friday on the purchase of the former Wayne Boze Memorial Chapel located at 161 W. Main, according to Teri Murdock, city secretary/administrator. The facility, renamed the Boze Community Center, will soon be in service as a community center for local residents.
The building and its purchase was the focus of the Italy EDC meeting held Tuesday evening.
The sales tax revenue bond is for $360,000, according to Murdock. The breakdown: $18,000, issuance cost; $32,445, debt service reserve fund; $305,000, project construction fund; and $4,555, rounded amount.
The building was purchased for $99,457.19 with an additional $75,000 for personal property inside the building. She said this left about $132,000 available for EDC to make roof repairs, paint and make any necessary changes in the building.
Mark Stiles, IEDC president, appointed Joyce Hobbs and Elmerine Bell to visit and evaluate the property as to how to set the building up for the community. He suggested they inventory the furniture inside and recommend what furniture needs to be kept and what needs to be sold.
Murdock said a representative from KSA Engineering will inspect the roof soon and make a recommendation as to what type repairs are necessary for the roof.
Murdock suggested a joint workshop with the city council to determine rental and deposit rates for the community center.
Murdock suggested, and the IEDC unanimously approved, the transfer of $2,500 per month from the sales tax income to make the twice-a-year payments for 15 years.
Stiles said once this building project is completed, they need to focus on the former McConnell furniture building. Then, he said the focus needs to turn toward getting jobs in Italy.
In other business, the corporation tabled an item regarding the Green Bandana Group, a grant writing- firm. They approved the consent agenda and approved the financial report.
Darrell Rosemond was the only member not present at the meeting.