By JOYANNA LOVE/ Senior Staff Writer

Mayor Billy Joe Driver has signed a joint venture agreement with the Chilton County Commission regarding the planned industrial park near Interstate 65, Exit 212.

The Clanton City Council unanimously approved the signing during its meeting on March 25.

Driver said the document had an amendment that was handwritten in that would be added to the typed version after it was approved by the motion.

The agreement must be signed by Chilton County Chair Joseph Parnell before becoming official, which is expected to happen soon. Parnell was notified that Driver had signed the document on March 26.

The property was purchased as a joint venture by the city and county governments planned.

The two governing bodies have been equally dividing costs to develop the site for future industry. However, an agreement stating how profit from the project would be divided had not been signed.

Under the new agreement, profit, as well as loss, from the park will be divided equally with each entity receiving 50 percent.

The agreement calls for the formation of a 212 Development Committee to oversee development efforts until a cooperative district for the industrial park is created. The city and county will each appoint three members to this committee.

“The Committee will open a checking account to handle routine transactions. The initial deposit will total $15,000.00 funded equally from the City and Commission. Any development agreements, sales, leases or single financial transactions of any kind over $5,000 will require prior approval by the City and Commission. The signatures of both the Mayor and the Chairman of the Commission will be required on all checks,” according to the agreement.

The first major announcement for construction at the industrial park was made on Feb. 26 by government officials and ALFA.

The Alabama Farm Center at ALFA Centennial Park is expected to cost $100-$150 million and include 11 venues, including five buildings and open air areas for events.

The project itself is projected to create 120 jobs and be the catalyst for an additional 380 as restaurants and hotels are built.