Equal Pay For EDA

There is an organization that operates in Loudon County that most folks are probably not even aware of. It's called The Loudon County Economic Development Agency or the EDA. The EDA has been around for sixteen or seventeen years. The Loudon County Economic Development Agency was formed as a joint venture between Loudon County, the City of Lenoir City, and the City of Loudon to provide a broad range of economic and community development programs.

While it's debatable whether the EDA provides any positive impact to Loudon County, it does exist and is currently funded by the three local governments stated above. This article will discuss the current funding for the agency and a possible change in that funding.

Currently, the EDA is funded as follows:

Loudon County-$162,545.00
Loudon City-$36,096.00
Lenoir City-$32,793.00
Total annual Funding-$231,434.00.

Last month the Loudon County commission passed a resolution to send a letter to Lenoir City and Loudon asking them to consider equalizing the contributions to the EDA so that each government entity would pay an equal share of the EDA's funding.

Under the Equal Pay For EDA plan, each stakeholder would make essentially the same contribution for the EDA funding. Under the equal pay plan:
Loudon County would pay, $81,644.00
Loudon City would pay, $68,144.00*
Lenoir City would pay, $81,644.00
*Loudon City donates the EDA facility at a calculated rate of $9,000.00 per year. This adjustment is made for Loudon's share.  
Commissioner's voting for the equalization in contributions were hoping by getting the request in early, the city's would be able to include an increased contribution in their upcoming 2017-2018 budget discussions.

Loudon County mayor, Buddy Bradshaw, was to send the letter of request to each of the cities to consider the new funding proposal. Hopefully, we will hear back from them soon.