The City of Hopkinsville will keep loans on Commerce Park 2 from defaulting at the end of the month. After an hour of questioning Hopkinsville Industrial Foundation President, John Crenshaw, the Hopkinsville City Council agreed, 10-2, to pay 375-thousand dollars of the interest payments due March 31st.
At the special called Committee of the Whole meeting, Chair Travis Martin asked Crenshaw about the worst-case scenario.
click to download audioCouncilman, Chuck Crabtree asked why there was no prior agreement.
click to download audioCouncilman, Clayton Sumner, admittedly new to the council, says it doesn’t feel like a partnership.
click to download audioMayor JR Knight serves on the Industrial Foundation as well as the Southwestern Kentucky Economic Development Council. City Councilman Travis Martin served on the SWK EDC for two years. Christian County Judge Executive Jerry Gilliam also serves on both boards.
Crenshaw says the industry recruitment game is changing and they can no longer just option property.
click to download audioEDC Director, Carter Hendricks says those investments are huge.
click to download audioThe Industrial Foundation plans to pay the 375-thousand dollars back when they close on the spec building for Kitchen Foods. That date has been pushed back to next month. Hendricks says the international company is doing its due diligence.
click to download audioThe City is also assisting with funds for the spec building, which will be paid back with the proceeds of the sale. County government has paid the other half of the interest payment.
