Pikeville seeks help with move
By Gary Popp
Published in News on April 3, 2012 1:46 PM
PIKEVILLE -- Expediting the move of the Pikeville Town Hall to its previous location was one of the issues discussed by the town board Monday night.
Mayor Johnny Weaver and Town Administrator Kathie Fields are taking steps to acquire a loan from the U.S. Department of Agriculture to finance the move from the building's current location at 100 W. School St., a mobile home located in Dees Memorial Park, to a more centrally located site at 112 S.W. Railroad St.
The federal loan would carry an interest rate of 3.75 percent for 40 years.
The government requires the town to attempt to find a comparable offer from local banks before offering the loan.
Mrs. Fields said she has checked with two Pikeville banks since the town's capital outlay meeting in March. Both banks were unable to match the USDA's offer.
She said she will approach at least at least two additional Wayne County financiers before ceasing the effort to find a local option.
Pursuing a local option is one of many requirements the town must meet to be granted the USDA loan.
"There are a lot of hoops to jump through. So, we are trying to jump through two or three at the same time," Weaver said.
Weaver said he expects the USDA to give the town a definitive answer before the end of the year. If granted, he said the loan would cost the town approximately $9,000 a year.
"That is not a significant cost. I am sure we can find a way to easily absorb that. We can come up the $9,000 a year," he said.
Board members also discussed the fate of the WAGES building, which was evacuated in June 2011. It also is located on the Dees Park property, which is owned by the town.
WAGES was located in Pikeville since the 1990s but was moved to Belfast last year.
Pikeville officials have declined an offer from WAGES to lease the building for $1 a year, which is the same amount the town has leased the land to WAGES.
The current lease runs out on June 30, at which time WAGES officials will be responsible for removing the building from the town property.