The Princeton-Caldwell County Industrial Development Authority is moving forward with plans for a sinkhole study to be conducted at the Princeton Industrial Park.
The IDA is made up of six members and includes Judge-Executive Kota Young, who serves as chair, along with Executive Director Amanda Davenport of the Lake Barkley Partnership of Economic Development, Mayor Brock Thomas, former Judge-Executive Larry Curling, Chris Burton, and attorney Todd Wetzel.
At a special called meeting Wednesday afternoon, Davenport explained that when they applied for the Product Development Initiative grant for the local industrial park last summer, a part of that process was getting a project cost. She then reached out to American Engineers, Inc. (AEI) to find out what it would cost for the sinkhole study.
click to download audioAt the end of February, she said, the IDA put out a Request of Qualifications (RFQ) bid and received only one response.
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Davenport also explained they have been recommended to get the PDI Grant and go through the process with the Cabinet of Economic Development to get the funds to conduct the study.
click to download audioDavenport is hopeful it will take only three months to get approval, but she thinks it will probably take six months to get approval to start work on the engineering side. She also discussed the other steps involved which include submitting the necessary paperwork to the Department of Local Government once she receives the final cost from AEI, then going to Fiscal Court requesting they sign all the paperwork to get the ball rolling to receive the funds.
Davenport also asked IDA members to approve authorization allowing her and Young to fill out the necessary paperwork to apply for this process to get the ball moving with the Cabinet.
click to download audioShe explained the Cabinet wants a beneficiary, the entity undertaking the project, and a grantee, which is a local government. She noted that since the IDA is a joint city and county, she is unsure if the Cabinet would allow them to have one or both local governments as the grantee.
click to download audioAfter some discussion, Thomas said the City of Princeton would be the grantee if only one entity was allowed.
IDA members unanimously approved the authorization allowing Davenport and Young to sign the PDI grant along with the local government entity selection for the PDI grant but tabled any action on the new RDAAP project until the next regular meeting this month.
