Budget & finance committees move public-private partnership forward

JACKSON, Tenn. — “We do not want to raise taxes,” Madison County Commissioner Doug Stephenson said. “I mean, that’s our game plan. We’re going to do what we have money to do.”

Now the question is, how will the county pay for the public-private partnership?

“We’re going to make a recommendation to the full body to recommend the TIF deal,” Madison County Commission Chairman Gary Deaton said.

That means if the Lambuth area community grows, whatever additional tax dollars gained from the community growth will go right back into school projects.

“Seventy-five percent of any growth in that district will be contributed towards debt service in order to do the debt, to apply to the debt,” Stephenson said.

After looking at the numbers, the commissioners had several questions, mainly focused on whether this is beneficial for the county.

“Why are we doing it? What purpose are we doing it for?” Deaton asked.

“Let’s just say the city or we decide to default. Who is responsible for the remaining debt on that?” Stephenson asked.

When it came down to the vote, all but two people said yes.

“I think it’s something we really need to do,” Deaton said. “I think it’ll enhance Jackson, and it’ll enhance downtown, and 10 years from now, we’ll say, ‘I’m sure glad we did that.'”

However, if it passes with both the city and the county, it may affect students two or three years from now.

“At the end of the day, the ones who are going to benefit the most are going to be the kids, are going to be these teachers,” Jason Compton said. “They’re going to be in better buildings. It’s going to be a better environment to learn in.”

If the project is approved in both the city and county meetings, construction on new schools could begin as early as February.