IDA Talks Money
Members of the Industrial Development Authority, Chairman Elijah Wilson, at the front desk, Michelle Bell, far left, and Treasurer Brian Scott, center, along with visitor Bob Howlett, foreground, looked over the finance’s minutes and data as the March 6 meeting of the authority got underway. PHOTO | Greg Wells
By Greg Wells
CCN–Editor
In a short meeting on March 6 the industrial development authority, (IDA), discussed several issues regarding money.
Over $15,000 was paid into the Revolving Fund, which will be used to fund improvements to local businesses in the future.
That money, from Southern Kentucky Distillery (SKD), was paid to the IDA as part of that employer’s agreement for startup funds.
The board approved payment of $9,000 to a local bookkeeping business for 10 years of work, at the rate of $100 a month. Board Chairman Elijah Wilson said the difference was due to a discount offered by the bookkeeper.
Payment for the services of Golden Shovel, the agency responsible for design and maintenance of explorecumberlandcounty.com, was approved. The payment is divided between the IDA, the Cumberland County Tourism Commission and the Cumberland County Chamber of Commerce.
That bill, which had been $14,000 was down to $10,000 this year, with the reduction of a service that was not being used, Wilson explained.
Wilson told the board that some issues with the business directory on the website were being cleaned up through the use of Blue Dot, a database system paid for presently through a University of Kentucky program.
Lane Cope, Magistrate of District 1, was talking Monday afternoon before the fiscal court meeting about
the destroyed bridge on Homer Grider Road, with Cumberland County Judge-Executive Luke King, who leaned in for a better look at his figures. PHOTO | Greg Wells
He said that the program allows all three entities to track all businesses in the county and can be used to feed data to the public through their shared website.
The cost of that, which has been free for some time, will be about $3,000 a year in the future.
The Investment Prep Grant application has been filed, Wilson told the board. He explained that it took over 80 hours of his time to complete more than 150 questions, but it was in by deadline.
He added that that was only the first-round submission, and that if they were approved for further consideration more questions would be forthcoming.
Said grant is offered for site preparations in IDA sites across Kentucky on a competitive basis.
The board also discussed the need for their contractor to complete Phase-One work on the Cumberland River Industrial Park site, as bidding would need to commence for phase 2 this summer.
