Wood County to be designated a 'recovery zone'

This just in via email from Wood County Commissioner Tim Brown:

I just wanted to give you notice that on Monday, September 21, 2009, the Wood County Board of Commissioners will hold a special session of the Board to enact a resolution to designate all of Wood County as a recovery zone. Our meeting will take place at 10:00 a.m. in the Courthouse Atrium. You and any citizen or business owner you may know is welcome to attend.

Under the American Recovery and Reinvestment Act a county determined to meet certain criteria may designate a recovery zone. The purpose is to enable political subdivisions who may need to advance a tax financed project to access $8,835,000 in Recovery Zone Economic Development Bonds and private business entities to access $13,253,000 in Recovery Zone Facility Bonds.

At the meeting our Bond Counsel will explain the particulars of the program to the media and interested citizens and answer any technical questions that individuals may have.

This designation will make available tools that may reduce the cost of local public projects and assist local businesses that will ultimately lead our region and State to economic recovery.