Supervisors approve $1 million loan for the purchase of real estate

The Middlesex County Board of Supervisors (MCBS) voted 4-0 on July 8 to approve a $1 million loan out of the county’s fund balance to the Middlesex County Economic Development Authority (EDA) for the purchase of real estate. (Hartfield Supervisor Bill Harris was not in attendence.)

Compared to surrounding waterfront counties, Middlesex County is nearly a public waterfront desert when it comes to convenient and usable public access to water. The EDA loan is to be used to purchase waterfront property for public access.

During the EDA presentation, there was no comment on exactly where the land was located because of concerns of damaging purchase negotiations, but it was noted it was for public access to the water.

How will it be paid back

After the public hearing, Harmony Village Supervisor Reggie Williams asked EDA Chairman John Anzivino and EDA Executive Director Trent Funkhouser how the EDA plans to pay the funds back. Funkhouser answered that he hopes the county will forgive payments for a couple months until the EDA can find public and private grants to repay the funds. The EDA is a nonprofit organization and can seek grants from public and private sources.