IDA Moves to Close Out Phase 1 at CRIP
Industrial Development Authority, treasurer Brian Scott went over the figures with the board last Wednesday, Oct. 8. He said that the checking account balance was $82,876 and Southern Kentucky Distillery made a payment into the revolving loan fund recently to keep them up-to-date.
By Greg Wells
CCN—Editor
The Burkesville Cumberland County Industrial Development Authority’s Board of Directors met last Wednesday, Oct. 1, in a special meeting as a quorum was not possible for the meeting date set the previous week.
The financial report by Brian Scott, treasurer, was approved with the agencies checking account having $82,876 while the revolving fund account has reached $45,962.
The board also approved the final payment for the work done at the Cumberland River Industrial Park. The contractor, Todd Johnson, billed $155,000, but that amount was reduced by the engineering firm as they showed an overpayment.
The approval was contingent on a final disbursement from the grant for the program.
Board Chairman Dr. Elijah Wilson pointed out that the current audit is still pending and needed for the grant already requested. He said the auditors have changed staff working on this project, but they assured him it would be forthcoming, Wilson said.
Dr. Elijah Wilson, President of the industrial development authority, board directors, calculated the agency’s current situation, with an eye to the one grant already applied for, and the other that the board had just approved seeking, while they debated the best course forward for improving the Cumberland River Industrial Park.
He added that there is a statewide initiative to address issues arising from a shortage of auditors available in Kentucky.
The board went over finances, both local, and those funds held in Frankfort and the one that grant already applied for and approved applying for another.
The next work to be done will be completion of paving and utilities into the CRIP.
The next meeting of the board was set for 11am, October 22.
