Target seeking new forms of capital
Sean HarkinsTarget Alpena’s board of directors discussed a possible need for an operating millage and supported a resolution to have a wind energy planning project constructed in Alpena County, during its quarterly meeting on Tuesday.
Board President Craig Kus said there has been preliminary discussion regarding the millage, and said the possibility of actually proposing one is in the air.
“It’s in the very early stages of considering that,” he said.
Kus said asking voters to approve 0.15 mills is being discussed throughout Alpena County. He said that would end up costing $8-$9 per household in the county and would generate $135,000.
That money would be enough to fund the economic development corporation’s strategic plan goals.
A millage is being considered as a funding option because Target’s funding sources have changed over the years, Kus said.
He said years ago utility companies contributed to Target, but many of those companies are no longer locally owned and their contributions have dwindled.
Kus stressed the millage is being viewed as an option, not a necessity.
“Is the millage the right way to go? I don’t know,” he said.
Board members Greg Sundin and Tim Kuehnlein said they were wary of asking voters to approve a millage at this point.
“I just think if we’re going to do that, we need some private sector contributions first,” Kuehnlein said.
Sundin shared that opinion, and added Target likely would have to ask for the millage through the county because a nonprofit group can’t receive a millage on its own behalf.
The board also approved a resolution supporting a county wind planning project in Alpena County.
The project is being headed by the Great Lakes Renewable Energy Association, a nonprofit group that promotes alternative energy in Michigan.
The group is writing a grant to gather information regarding the county’s wind potential that would be available to companies wanting to develop wind energy.
Target Chief Economic Development Officer Lee Shirey said Target’s support of the project shows those offering the grant there is local support for the project.
The board also supported resolutions regarding Alpena Community College and Decorative Panels International.
ACC is lobbying the state legislature to allow it to offer baccalaureate degrees in applied technology. President Olin Joynton said community colleges are not currently allowed to offer the degrees.
A resolution to support ACC’s millage renewal request was also supported. The renewal will be for 2.5 mills.
The board also passed a resolution supporting a proposal by DPI for a bio-refinery. If the facility is built, it would convert DPI’s effluent into cellulosic ethanol.
Sean Harkins can be reached via e-mail at sharkins@thealpenanews.com or by phone at 358-5688.
