By Ann McCreary
TwispWorks will soon be owned and operated by a nonprofit organization, as it transitions ownership from the Public Development Authority to the TwispWorks Foundation.
The Twisp Town Council recently gave its approval for the transition, which will give TwispWorks more flexibility to carry out programs and improvements on the campus.
The sale to the nonprofit organization will involve transfer of a $1 million loan from the PDA to the TwispWorks Foundation. The loan was given to the PDA by a private, anonymous donor with the understanding that it would be forgiven after 10 years if the property is developed and used for the purposes stated when the PDA was created.
TwispWorks will be subdivided into three parcels during the process, because two buildings have solar panels that were installed as part of the TwispWorks Community Solar Project, which is required by law to be part of a public property.
Those properties will remain part of the PDA until 2020, when the project comes to an end and the foundation will have an option to purchase the properties for fair market value.
Amy Stork, TwispWorks executive director, said the public will see no change in the activities or programs as a result of the restructuring.