
County approves new lease with Olney EDC
Young County Commissioners voted unanimously on Monday to approve a 30-year lease of Olney’s former City Hall building, paving the way for major renovations of the century-old building on South Grand Avenue.
Olney Economic Development Corporation President Johnny Moore and Tom Parker were on hand to answer questions about the new leaase, which raises the County’s rent to $25,000 per year from the $11,250 rate paid for the past 15 years.
“We are just trying to get that [rent] to a level that we can continue to improve the [building],” Mr. Parker told the Commissioners. “There is a big jump next year but that gets it in line with [market rates].”
The new rate will take effect in October, coinciding with the City and County fiscal year, and the parties will have the option to raise the rate by as much as 4 percent annually, Mr. Parker said.
The OEDC wanted the agreement in place before it began replacing windows, installing central heat and air conditioning and replacing the floors and ceilings, Mr. Parker said.
The higher rent will help the OEDC pay for the improvements, “to keep people working in a healthy, energy efficient environment,” Mr. Parker said.
The OEDC took possession of the old building at 117 S. Grand Ave. and voted to spend up to $400,000 to repair and refurbish it last year after the facade began crumbling and the City of Olney, which owned it, did not have funds to repair it.
The red brick building, circa 1926, houses the Young County Tax-Assessor- Collector, Justice of the Peace, Precinct 3, Car Registration Office, Public Safety Office and the Young County Adult Probation Office, as well as the Olney Police dispatch center and police department offices.
Precinct 1 Commissioner Stacy Creswell inquired about buying the building, but changed his mind after learning that the OEDC plans to develop the second floor ballroom and gymnasium for community activities, and to lease offices to other governmental agencies.
“If it was something that we were going to be leasing over and over again at that rate that would be more of a common sense deal ... but right now we don’t want to buy it,” he said.
The contract has a 120-day exit clause for either party to terminate the agreement, County Judge Win Graham said.
“There is going to be quite a lot of work done on it to get it to be a safe, comfortable work environment,” he said.