After many preliminary discussions, the City of Hopkinsville is going forward with bonds for the new battery recycling plant. Tuesday night, Councilmembers voted 11-1 to approve the first reading of the 565 million dollar bond issuance for Ascend Elements.
Ascend Vice President of Government Affairs, Roger Lin answered questions about the business as well as challenges they might face, including state and federal funding.
click to download audioHe says they have had layoffs recently of about 100 people, and while they hope to hire those individuals back, they understand people can’t wait around for a job.
Ascend will be solely responsible for repaying the bonds, and the city will, basically, operate as a pass-through. Councilman Chuck Crabtree was the lone no-vote.
In other business, the City Council approved the second reading of the closure of a portion of East 5th Street and approved a downtown development incentive for The Book & Bottle Shop on East 9th Street.
