Lakesite Designated a Three-Star Community for Economic Preparedness

Hamilton County and its incorporated municipalities were awarded Level 3 State of Tennessee 3 Star Program status on June 20, 2005. This program is designed to assist communities to meet criteria necessary to achieve excellence in economic and community development. Three-Star status allows our community to be able to receive more state dollars and have a lower local match rate for Fastrack Infrastructure Grants.

Every community has a representative on the Joint Economic and Community Development Board (J.E.C.D.). The committee meets quarterly to advance their goals for existing industry, manufacturing, recruitment, workforce development, retail/service, tourism, agriculture, infrastructure development, and education.

As a result of Lakesite’s Three-Star designation, the State will now provide 78% funding instead of just 73% toward Fastrack Industrial Infrastructure Grants to assist industry with site development costs.

CDBG Grants – 5 points will also be added to County water and sewer grant scores and 2 points added to a municipality’s application. This could be the difference in a grant being funded or not. CDBG Loan limits are increased by $25,000 to the cities and Hamilton County.