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Jerome City Council Meets To Discuss Vacant Technology Park
Jerome, Idaho ( KMVT-TV / KTWT-TV ) The Jerome City Council met Wednesday afternoon to discuss a currently vacant technology park. The technology park which was a partnership between the Jerome development corporation and the city is located east of Jerome. The park remains empty which has created some difficulty for both the city and the corporation.
The city is considering purchasing part of a lot from the Jerome Development Corporation for one hundred and sixty five thousand dollars. That money would be used to pay off the note to D.L. Evans Bank. A hundred thousand would be paid sometime in the near future. The remaining sixty five thousand would be paid when the new budget year begins in October.
"This is a group effort. At the moment, Jerome Development Corporate has a note outstanding on that property with D.L. Evans Bank. And we're contemplating buying a lot to help fund, to help service that note and pay that debt off," said Jerome Mayor John Shine.
The council and the Jerome Development Corporation will discuss an agreement that is being put together next Tuesday. The council did say that if the state cuts personal property tax the city could lose up to a million dollars a year. If that occurs, projects like the technology park would have to be put on hold.