WARREN, Ark. – The Southeast Arkansas Regional Intermodal Facility Authority gathered for its latest meeting at 11 a.m. on December 20, 2023, at the Bradley County Economic Development Corp. office in Warren. Chaired by John Lipton, the meeting saw the active participation of board members Tim Kessler, Bryan Martin, and Roger George. Notable attendees included accountant Bob Milton, ex-officio members Monticello Mayor Jason Akers, Warren Mayor Gregg Reep, and Drew County Judge Jessie Griffin.
In the absence of Dr. Bob Smalling, board member Tim Kessler assumed the responsibility of recording the meeting minutes.
The meeting commenced with the review and acceptance of the minutes from the October 18 gathering. Having had no meeting in November, the minutes were promptly accepted as presented, following a motion by Mr. Martin and a second by Mr. Kessler, passing unanimously.
Accountant Bob Milton then provided a comprehensive financial report. He detailed the current balances in various accounts, including the Warren Bank and Trust operating account ($4,278.26), Warren Bank and Trust transfer account ($60.67), and the First State Bank account ($366,000). Notable transactions included payments to C&E Electric Cooperative Corp. and Robert C. Milton, among others. Mr. Milton highlighted a refund from AT&T and a payment of $65,625 from the Arkansas Department of Transportation to the Intermodal.
Responding to financial matters, Mr. Martin proposed, and Mr. Kessler seconded, a motion to transfer $15,000 from the First State Bank account to the Warren Bank and Trust operating account for the payment of accounts payable. Additionally, Mr. Milton was authorized to transfer $350,000 from the First State Bank account into a Certificate of Deposit (CD) and to negotiate interest rates on both the First State Bank account and the CD. The motion passed unanimously, ensuring sound fiscal management.
Chairman Lipton shared insights from a December 6 meeting, attended by representatives from a prospective project, a natural gas company, C&L Electric Cooperative, and Union Pacific Railroad. Mayor Akers reported securing side-by-side access to the Intermodal site through the city of Monticello.
Board member Nita McDaniel joined the meeting remotely and discussed Project Northstar, emphasizing the confidentiality surrounding the information presented.
The meeting concluded with a motion from Mr. George to adjourn, seconded by Mr. Kessler, and unanimously approved.
The Southeast Arkansas Regional Intermodal Facility Authority is scheduled to reconvene on January 17, 2024, at 11 a.m. in the Commercial Bank community room in Monticello.
The productive meeting adjourned at 12:40 p.m., setting the stage for continued economic development efforts in the region.