BEDFORD — A divided Lawrence County Board of Commissioners passed a resolution approving an increased $5.07 million bond issue to finance a local redevelopment project, pushing the measure forward despite opposition from the board’s president.
In a split vote, Commissioners Wally Branham and Rodney Fish voted to accept Resolution No. 2026-02. Commissioner President Jeff McKnight cast the lone dissenting vote.
The resolution officially ratifies and approves the original 2021 creation of the Lehigh Economic Development Area and the Lehigh Allocation Area—a designated tax increment financing (TIF) district subject to local economic development laws, according to Jeff Quyle, president of the Lawrence County Redevelopment Commission.
Commissioner President McKnight voiced concerns over whether county taxpayers would be left holding the bag if the TIF district failed to generate enough revenue to cover the debt.
More critically, the measure greenlights a funding increase for the county’s ongoing “Redevelopment Project,” which centers around the acquisition of a commercial shell building.
According to the approved documents, the County Redevelopment Commission initially authorized a bond amount of up to $8,000,000. On April 27, 2026, the commission executed a term sheet for the bonds in the par amount of $4,945,000 with Webster Bank, National Association. However, before closing, the final par amount of the bonds had to be increased by $125,000 to cover all necessary interest payments required for the final payoff of the project.
The adjustment brings the final aggregate total of the Taxable Redevelopment District Revenue Bonds of 2026 to $5,070,000. The bonds were officially issued on May 7, 2026.
By passing the resolution, the Board of Commissioners formally ratifies the final actions of the Redevelopment Commission and solidifies the updated $5.07 million debt issuance needed to keep the shell building project on track.
