The Southeast Arkansas Intermodal Authority was told during the December monthly meeting that they must conduct an audit to comply with federal regulations and that it should be done as quickly as possible. In fact it should have been done by last June (2013). The board voted to secure proposals and get an audit for 2012 and to go ahead a get a price for 2013.
A good deal of the meeting consisted of the board talking about the need to proceed with construction of an elevated water tank in order to provide for fire protection. A 750,000 gallon tank is under consideration. Chairman John Lipton told the members that some General Improvement Fund (GIF) state money has been made available to help provide match money for grant funds that the Authority will pursue. He stated that St.Rep. Shelia Lampkin has contributed $2000.00, St. Rep. Jeff Wardlaw has provided $5000.00 and St. Senator Eddie Cheatham has secured $25,000.00. Mr. Lipton indicated that efforts are underway to try to get a community development grant to help.
There seemed to remain some confusion over how much the Authority owes Garver Engineers and when a bill will be presented. The indication was that a new contract is being worked on with Garver for the water tank project but it remains uncertain how the authority will be billed for work Garver says it is owed for past work.
According to the financial report the Authority currently has an outstanding loan to Commercial Bank in the amount of $436,379.00. The loan will be repaid by grant reimbursements and matching contributions.