Tyrrell County facing financial hardship will get temporary relief. | Stock Photo
Tyrrell County facing financial hardship will get temporary relief. | Stock Photo
Tyrrell County will receive some financial relief as it faces millions of dollars in debt following a loan for a reverse osmosis water plant, Carolina Journal reported on June 3.
The county entered into a multi-million dollar loan for the plant in the late 2000s, but it defaulted after the Department of Public Safety halted the Tyrrell Prison Work Farm in September, the Carolina Journal reported.
At the same time, the county is also gearing up for a 35% reduction in sales tax revenue, while facing a 30%-50% jump in utility rates, the Carolina Journal reported. It was noted that the prison previously brought in 30% of utility revenues as it funded roughly $300,000 for nearly a million gallons of water in a year.
But all hope isn’t lost for Tyrrell County as the state will issue $210,000 via grants to the county sooner than later, Carolina Journal reported. Still, it will only provide the area with a year of needed funds.
County Manager David Clegg said “That does not address the larger issue of the $3.25 million we owe on the bonds. It addresses a year. We’re happy about it, but it’s not a panacea. It’s a one-year solution," the Carolina Journal reported.
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