IDA makes another business loan

Posted August 7, 2019 at 8:22 am

The Clinton County Industrial Development Authority (IDA) held a special call meeting last Friday morning, August 2 with just enough members (four) present to make a quorum.

The recently revamped board wound up assisting a perspective loan prospect, the second approved aid to a local business in as many months.

After establishing a quorum, board chairman Jarred Witham called the meeting to order and the members immediately voted to enter into closed session to discuss “loan prospects,” with two representatives of Kentucky Highlands Investment Corporation, Mike Hicks and Edgar Davis.

Following a 25-minute closed session, the board returned to open session, and on a motion by board member Barney Latham, voted unanimously to participate in up to 10 percent of an approximate total $130,000 loan along with KHIC to American Health Management, Inc.

The IDA share of their participation would be approximately $13,000 of the loan amount.

It was also noted that during the closed session, a couple of other loan prospects had been discussed. However, due to incomplete paperwork being available at this time, no action was taken on either of those two proposals.

After reviewing some proposals for lobby furniture designs presented by the Chamber of Commerce, the board opted to take no action on the design presented, but rather voted to continue to work with the Chamber and Tourism Commission on getting additional designs and prices for furnishing to be placed at the IDA-Welcome Center.

The 45-minute special session was then adjourned.

The next regular meeting of the Clinton County Industrial Development Authority is scheduled for Thursday, September 12 at 11 a.m. at the Welcome Center and is open to the public.