Atwood sale: by the numbers

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By Nancy Schaar – Correspondent and Carol McIntire Editor

 

County Commissioners released the settlement statement for the sale of the Atwood property Monday.

Kiko Auctions received $88,000 as their commission for the sale of the property and $10,965 for advertising expenses.

The settlement statement shows a $253 water bill to Muskingum Watershed Conservancy District (MWCD) and an adjustment of $2,763.89 for pro-rated real estate taxes for a total of $104,452.20.

Net proceeds to county commissioners were $995,547.

Through a negotiated agreement with the MWCD, commissioners were guaranteed $1.3 million for the sale of the property in the form of a grant. Commissioners must return all remaining money in the Atwood oil and gas lease fund to the MWCD under the terms of the agreement, according to Commissioner President Jeff Ohler.

He said money in the Atwood fund could not be used for any purpose other than expenses relating to Atwood Resort.

The fund paid for expenses relating to the resort since Radius Hospitality notified commissioners they were closing the facility in March 2016.

Ohler said expenses included a sewer bill of $9,500 each month, security paid to the county sheriff of about $10,000 per month, payroll for two maintenance/groundskeepers of about $6,000 and other utility costs which added up to a total of about $35,000 per month.

“After paying all those bills, there is about $1.4 million left in the Atwood fund,” Ohler noted, adding the money will go back to the MWCD.

As their part of the agreement, the MWCD will provide the county with a grant for $305,000, which is the difference between the net sale proceeds and $1.3 million

Ohler said the $1.3 million grant is earmarked for the Northern Corridor project, a water and sewer line extension project along SR 43 north of Carrollton. He said the county does not plan to ask the MWCD for the funds until such time as a contractor is hired and the county files a notice to proceed.

Commissioners noted the $1.3 million is an integral part of financing for the Northern Corridor project. Commissioners have other grants that will provide $2.6 million towards the project. That amount will cover 66 percent of the cash needed to complete the project. The goal is provide infrastructure in the area to support economic development.