Story - The Meade County Messenger


Vol. 115, No. 12	March 19, 2008

Industrial park sale proceeds to aid in Riverport road construction

By LARRY SEE JR.
Messenger Staff

County officials had three options before them regarding the disposition of funds from the recent sale of property to Meade County Energy, LLC.

And they decided to benefit the industrial park with the windfall.

Judge Executive Harry Craycroft outlined the three suggestions to the Fiscal Court during their March 13 special meeting.

The options included:

• Taking $1 million of the total amount and applying it to the park’s debt, with the remaining $774,000 to be used for the Riverport road.

• Allowing Treasurer Shirley Fackler to investigate interest rates for the funds.

• Apply the entire amount to the park’s debt.

Craycroft recommended the best option would be to apply $774,000 to the road, deferring further questions to Brandenburg/Meade County Industrial Development Authority Chairman David Pace.

Pace also endorsed the request.

At a February Riverport meeting, officials with the Kentucky Transportation Cabinet couldn’t place a firm estimate on the road costs, but reported the total project was pegged at $1.85 million.

Two options were mentioned to Riverport officials, with the first being the Riverport reimbursing the state up to $600,000 of the cost and the second being allowing state officials to do the work and the Riverport reimburse any costs over $600,000.

Magistrate Herbie Chism added the $774,000 should be placed in a separate county line item, specifically designated for the Riverport road. Fackler agreed to his request.

“There is another 400-plus acres being sold,” Craycroft said. “The acres have been optioned to be purchased. This is going to be good news all the way around.”

“This should be an exciting opportunity and the whole Riverport Park would be sold. The total price will be somewhere in excess of $11 million when it comes to fruition,” Craycroft continued.” The property is optioned and I can’t say anything more until our I’s are dotted.”

In a related matter, members unanimously adopted the second reading of an ordinance accepting the $550,000 from the insurance agency.

These funds are being used for repairs to the storm-ravaged Meade Olin Park, Craycroft said.

In other business, magistrates accepted $550,042 from the state for the county’s road aid contract.

The amount increased $87,104 from last year, Craycroft said. The funds can be used for any county road and for whatever purpose necessary.

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