Clay County Jail Nearing Completion of Financial Studies

Clay County is nearing the end of several financial studies for the new jail.

County Mayor Dale Reagan said the county needs additional information from a bank before moving forward with the $7 million USDA loan.

“We are down to hopefully the final window as far as looking into what else they are needing from us,” Reagan said. “We are waiting on one more notice from one of the banks for their rates and stuff.”

Reagan said revenue and funding remain the main topic concerning the jail project.

“Once we get that, we got the financial study that we had a firm out of Nashville come in that had done… a projection study throughout the 20 years,” Reagan said. “[After] talking with USDA the other day, they said everything looked to be in order.”

Reagan said the project can take a step forward after receiving the USDA loan.

“Once we get the approval from the USDA” Reagan said, “the County Commission will come back and they will start looking at the possibility of what we have got to do as far as the revenue side of it and funding a new jail, whenever it comes to the operational costs and everything.”

Reagan said he hopes to have more information for the planning commission meeting later this month.

The proposed site for the new jail sits along Highway 53 across from Buford Drive.