Industrial Authority seeking CDBG Grant

By Greg Bird
The McCreary County Industrial Development Authority is seeking to apply for a Kentucky Community Development Block Grant to purchase equipment to be used to assist in the expansion of Outdoor Venture Corporation to go along with the recently announced new manufacturing plant for Fibrotex USA Inc.
The CDBG application was prepared by Waylon Wright of the Lake Cumberland Area Development District and submitted on behalf of the Industrial Authority. The Fiscal Court is expected to pass a resolution at next week’s meeting in support of the application. The Fiscal Court will serve as the primary overseer of the grant for the Authority.
According to the application the Fiscal Court is seeking $1 million in funding through the program “to assist with the purchase of equipment to accommodate Outdoor Ventures Corporation’s expansion, resulting in the creation of 150 jobs.”
It further states the funding will be used to purchase knitting equipment at a cost of $970,000. That equipment will be leased to OVC over ten years at a 2-percent interest rate.
The money and interest paid back to the Industrial Development Authority will remain in the county and will be used to improve and market the industrial park and spec building, as well as financing other economic development projects.
There will be a public hearing held prior to next week’s Fiscal Court meeting to hear public comments on the application and answer any questions regarding the plan. The hearing is scheduled for 5:00 p.m., on Thursday, December13 in the Fiscal Court Room.
More information regarding the plan and CDBG grants are available for viewing in Judge Executive Doug Stephens’ Office.
The last Community Development Block Grant proposal did not fare well for the applicant. In 2013 the Cumberland Family Medical Clinic was set to request $600,000 in CDBG funding through the Fiscal Court to open a 24-hour medical center in the county. After a wave of opposition from the public and other medical clinic operators, the Fiscal Court opted not to support the application.
Other CDBG grants awarded for McCreary County include $600,000 to construct the Multi-Generational building at the McCreary County Park in 2009.
The McCreary County Water District also uses CDBG grants to help build infrastructure and expansions in the county.