The Princeton-Caldwell County Industrial Development Authority is applying for grant money to fund a study that would help the local IDA make plans for future developments around possible sinkholes in the Princeton Industrial Park.
Executive Director Amanda Davenport of the Lake Barkley Partnership for Economic Development says funding for this study was made possible after the Kentucky General Assembly put in $100 million into the Kentucky Product Development Initiative.
click to download audioThat threshold, Davenport added, led to the local IDA applying for a grant for an engineering study of the sinkholes in the Industrial Park and the impact on any development.
click to download audioIf there are sinkholes, she noted it is still feasible to develop the site.
click to download audioThis grant the IDA is applying for, Davenport added is for an engineering study that would assess the sinkholes so that the IDA can develop a plan on how they can build around them in order to utilize the land in the Princeton Industrial Park. The Industrial Park is located on Park Avenue off of U.S. 62 West.
