10/16/14 Extension for fair at current site into 2015 gives more time to complete fairgrounds at Harvest Ridge

  • By Nick Sabo
  • October 16, 2014
  • 385
                        
SUMMARY: Stalled grading project at Harvest Ridge is given new life thanks to revolving line of credit. Projects bottlenecked behind grading, such as water and utilities, can begin once grading is completed. An extension at the current fairgrounds location into 2015 will give the Holmes County Agricultural Society more time to prepare the new fairgrounds at Harvest Ridge. Agricultural society president Kerry Taylor said the fair has been granted another year at its current site, going past the 2014 deadline to vacate the fairgrounds set by the Ohio Public Works Commission. The extension comes as grading at Harvest Ridge has been granted new life, thanks to a $500,000 revolving line of credit through First Knox National Bank. With grading of the new fairgrounds set to resume this week, Taylor said work at Harvest Ridge has reached a tipping point. “There was always that given that the the biggest single portion of the this project was the excavating and storm water retention plan,” Taylor said. “We knew this was going to be the biggest hurdle. It’s great to get where we’re at.” The grading project was stalled earlier this year due to a lack of funds. Stacked up behind the grading project is installation of utilities and a few fully-funded projects, including construction of a $500,000 show arena. Harvest Ridge project coordinator Tom Wilke said the terms of the line of credit with First Knox is 20 years at three and one quarter percent. The first payment will be due the month after the first draw on the loan, Wilke said. Wilke said the agricultural society plans to make the payments through donations, and hopes to have the loan paid off within three or four years. The agricultural society has contracted with Matthew Hughes, owner of community development counseling service JMH Development, to coordinate fundraising efforts for development of Harvest Ridge. Hughes said $500,000 has been raised recently, about half of it cash and half in-kind donations. The in-kind donations include construction materials such as concrete, Hughes said. Hughes said the grading project is holding up almost $3 million in work. The fairgrounds project has secured $5 million through a variety of sources, but only $2.2 million has been spent. Hughes said the $5 million represents several projects, some of which are fully funded. Others, such as the water utilities, only have partial funding in place. Taylor said he feels very confident that Harvest Ridge will be ready to host a fair in 2016. The extra year will give plenty of time for structures to go up and for continued fundraising efforts. A further advantage, Taylor said, is that it will give the agricultural society more time to plan the fair in its new home. “Not only does the extension give more time to get buildings in, but it gives us time to plan and facilitate the fair,” Taylor said. “It’s going to be a big learning curve, for us and for fair participants.” Taylor said that while the fairgrounds project is finally rolling, the agricultural society will continue to reach out to the public for support. “It should be stressed that we are not out of the woods yet. The (revolving line of credit) is not a gift, not a donation, and it will have to be paid back,” Taylor said. “It will take years for this project to come to complete fruition.”


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