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Posted: Thursday, 21 November 2013 12:30PM

Cadiz-Trigg County EDC Discusses City Council Concerns



Following a heated City Council meeting earlier this month, the Cadiz-Trigg County Economic Development Commission met Thursday to discuss the debt it incurred to make improvements at the local Transcraft facility. Questions about who is responsible for repaying the loan have been raised over the past few months.

Although some questions may remain about the EDC’s practice of borrowing money that must be repaid by another government entity, Mayor Lyn Bailey apologized for the way the City Council meeting was handled.


   
Bailey and EDC board member and City Councilman Todd King say the City will pay its part.



Funded, in part, by the Cadiz City Council and the Trigg County Fiscal Court, the EDC’s function is to create, promote and sustain economic growth in Trigg County. EDC secretary-treasurer Lori Ricks hopes people understand that doing that sometimes means investing in the industries located here.


   
In other business, the EDC passed a resolution in support of Kentucky bill 138, proposed by State Representative Wilson Stone. If passed, EDC Executive Director Sharon Butts says half of the state General Fund’s share of TVA in-lieu-of tax payments will be given back to Kentucky’s 36 TVA counties for economic development and job creation.


   
Butts says she hopes the City Council and the Trigg County Fiscal Court will also support the measure with resolutions.

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