IDA to participate in another loan to a new business

Posted February 5, 2020 at 3:40 pm

The Clinton County IDA (Industrial Development Authority) held a special call meeting last Tuesday, January 28 at the Welcome Center with all seven members and two items of business, including a loan prospect, on the agenda.

Board member Randy Speck made a motion to enter into closed session to discuss a possible or pending business loan prospect.

Following an approximate 33 minutes in closed session with no action being taken, the meeting was returned to open session on a motion by board member Barney Latham.

Upon returning to open session, Board Vice-Chairman Latham made a motion that the Clinton County IDA participate, with Kentucky Highlands, to help in funding Clinton County Pharmacy. The motion was seconded by board member Kim Stockton and passed unanimously.

Terms and conditions of the loan were not disclosed.

The board, on a motion by Randy Jones, seconded by Dawn Tompkins, also voted to direct IDA Director April Speck to seek a grant through USDA’s RBDG program, with terms and amounts unspecified at this time.

The 45 minute special session was then adjourned.