Grant & Loan Awards: Newton County


Equity

Newton County

Equity Fund: $1,000,000

Awarded: 03/07/2008

Applicant: Jasper, Morgan, Newton and Walton Counties, Joint Development Authority of


Description:
Equity funds to support road improvements to serve Stanton Springs, a 1,500-acre technology park located at the junction of Morgan, Newton and Walton Counties on I-20 and Highway 278. Specifically, funds will be used to pave a .8 mile four-lane road in order to see and promote interior sites within the park. Stanton Springs is a great example of public-private partnership involving four counties with a private partner, Technology Park/Atlanta, Inc. (TPA). Morgan, Newton, and Walton Counties have land within the development area. Jasper Co. will contribute 10% of costs toward development even though the county will not own land within the development. All four counties will share costs/revenues according to an intergovernmental agreement. TPA is a private developer experienced in the planning and development of similar projects including Johns Creek Mixed Use Park. The application anticipates that within two years, 700 will be employed at Stanton Springs. Within five years, 3,100 will be employed. At full build-out, the project will be able to support 20,000 workers.


Total Budgeted Project Cost:


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