Bobby A Reed Harold L Barger Ralph M Gaither Stranded students rescued by Brown County cooperation 4-H Teen Ambassador Dunning attends SHOT Show Veterans Service Commission invites veterans to seek help with benefits Unemployment rate rises in Brown County Pick a Lollipop, help a dog A season to remember G-Men hit the field for first baseball scrimmage Eastern’s Rigdon, Purdy earn AP SE District Div. III honors New blocking, kicking rules address risk minimization in high school football Judy A Schneider James M Darnell Lawanda R Truesdell Paul E Grisham Arrelous R Rowland Dennis E Stivers David M Daniels Fayetteville man is charged with child porn April 1st Grand Opening for Jacob’s Ladder Resale Boutique in Georgetown Talent Show auditions at Gaslight Theatre Nine indicted by county grand jury Vietnam Veteran’s Memorial Wall visit coming next May to BC Fairgrounds In it to win it! Bronco wrestlers end season on successful note Eastern’s Hopkins finishes 5th in long jump at OATCCC State Indoor Track and Field Meet SBAAC awards academic all-stars, winning teams Marvin D Atkin Beverly S Flatt Jessie M Sanders Leroy Deck Sr Jody A Towler Sherman E Young Kenneth C Burton Varnau’s face second defamation suit Attorney General to visit Georgetown schools Clermont County GOP hosts Wenstrup, DeWine at dinner Fatal car crash in Adams County BC Chamber welcomes new Cricket Wireless store to Mt. Orab Aberdeen Council approves 2017 budget Royce K Zimmerman Lady Warriors advance to Elite 8 SBAAC awards boys basketball all-stars SBAAC girls basketball all-stars take home awards SHAC Winter Sports Awards Banquet set for March 12 Altman claims 170-pound district title Sirkka L Buller Arthur C Schneider Lowell G Neal Virginia M Schirmer Connie S Darling Harold L Purdin Terry E Frye Lucille Schumacher Lady Warriors roll to district finals Broncos take care of business to claim sectional crown G-Men upset MVCA to earn berth sectional finals WBHS JROTC Rifle Team competes at Camp Perry Lady Rockets finish 12-12 Season reaches end for Rockets Eugene D Ring Two indicted on major drug charges Two charged with home invasion Cincinnati airport expanding services, lowering prices in effort to compete Two sentenced in common pleas court Georgetown man hurt in car crash Robert G Miller Linda M Howland Robert E McKinney Mildred J Hodges Farrel L Amiott Patricia Brown Rick L Dye Mary E Nagel Betty Ratliff Broncos claim SBAAC wrestling title Broncos pull ahead for win over G-Men in SBAAC Tourney Ripley boys wrap up regular season with win at Lynchburg Eastern girls are sectional champs Anderson pleads not guilty to battery charge Some county offices to change locations Fayetteville prepares for Traveling Vietnam Memorial Wall HealthSource hosts Chamber of Commerce meeting Five sentenced in Brown County Common Pleas Court June Howser Marguerite A Fender Timothy D Harris Jay R Purdy Robin S Godwin Marc A Wachter Chester W Eyre Warriors blast past the G-Men, 61-40 Rockets performing well heading into post-season tournament play Lady Warriors bring home the Gold with perfect 13-0 finish in SHAC Western Brown Junior High wrestling team wraps up successful season Rockets fall victim to ‘Pack’ attack Broncos suffer heartbreaking loss to Mentor Lake Catholic in state quarterfinals Adult Education Center coming to county ‘Senior Playground’ moving forward at Georgetown park

The Brown County Commissioners paid off a substantial loan worth more than $726,000 to First State Bank

GEORGETOWN — In one fell swoop, the Brown County Commissioners wiped out about one-third of the county’s debt.

Thanks to money earned in a property sale of the site of a future automall in Mt. Orab, the Brown County Commissioners were able to pay down the remainder interest and principal remaining on a $750,000 loan from First State Bank taken out in 2009. The commissioners presented a check to First State Bank’s Mt. Orab manager Vince Roades worth $726,742.98.

“You better believe it,” Commissioner Daryll Gray said in response to a question if this was a big day for the county. “We’ve got two more (big loans) and if we pay those off we would be in good shape.”

Since acquiring the original $750,000 loan in 2009, the commissioners had been paying on interest twice a year, about $13,000 per payment. Earlier this year, the commissioners paid down $25,000 of the principal, and after acquiring $616,579 from the property sale in Mt. Orab, they were able to pay down the rest of the owed principal and interest on the loan.

According to former Brown County Commissioner Ralph Jennings, the original loan was secured to purchase the nearly 30-acre piece of property alongside State Route 32 from the Brown County Hospital. The hospital had previously acquired that land in the mid-2000s with the idea of building a new medical facility on the property, but according to Jennings, they never raised the funds necessary to do so.

In August 2015, the Mt. Orab Port Authority sold the property on behalf of the county, and car entrepreneur Mark Williams is now in the construction phase of building two 18,000 square foot car dealerships on the land. Williams is planning on moving Mt. Orab Ford to that location as well as Peebles Chrysler Dodge Jeep Ram. There’s also the potential to build three more dealerships on the site, as well as a restaurant and a hotel.

The Brown County Commissioners paid off a loan from First State Bank with money acquired in the Mt. Orab automall property sale. Shown, from left to right, are Commissioners Tony Applegate and Daryll Gray, First State Bank’s Vince Roades, and Commissioner Barry Woodruff.
http://newsdemocrat.com/wp-content/uploads/2015/09/web1_LoanPayment-DanielKarell-1.jpgThe Brown County Commissioners paid off a loan from First State Bank with money acquired in the Mt. Orab automall property sale. Shown, from left to right, are Commissioners Tony Applegate and Daryll Gray, First State Bank’s Vince Roades, and Commissioner Barry Woodruff.
Automall sale helps pay off 1/3 of county debt

By Daniel Karell

dkarell@civitasmedia.com

Reach Daniel Karell at 937-378-6161. Follow him on Twitter @GNDKarell

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