IDA approves loan for Flip N Fly Athletics

Posted January 15, 2020 at 9:21 am

The Clinton County Industrial Development Authority, in its first meeting of the year on Thursday, January 9, agreed to participate in yet another business loan.

Five of seven members were on hand for the over one-hour long session, including newly appointed member Kimberly Stockton, who was appointed by the fiscal court in December.

After the meeting was called to order and the minutes from previous meetings were approved, board members entered into an approximate 55-minute closed session pursuant to KRS statutes to discuss a potential loan prospect.

Upon returning to open session, a motion was made by board member Barney Latham to grant a loan to Flip N Fly Athletics (formerly Clinton Cheer Elite).

Jessica Smith was on hand representing the business and presented the board with the paperwork and proposal for the loan.

The loan term will be for five years at an undisclosed amount.

Following the vote on the loan application, the board briefly reviewed current loans they have made with no action being necessary.

Latham then made a motion to pay claims and bills, which passed by unanimous vote.

It was also noted at the meeting that another person will possibly be making a presentation in the near future for an IDA loan, but was unable to attend last week’s meeting.

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