, Corbin, KY

Local News

December 20, 2013

Laurel moves to provide low-interest loans for Fariston industrial projects

CORBIN — By LeeAnn Cain / Staff Writer

An offer of a Community Development Block Grant loan for $300,000 to the London/Laurel Industrial Authority was approved with a .5 percent interest rate over five years during Thursday’s Laurel County fiscal court meeting. This loan would be to buy land for the development of an industrial area in Fariston.

The money is being offered from Laurel County’s Community Development Block Grant account as a loan to the London-Laurel County Industrial Development authority, but the loan has not been formally taken and no deal has been made, according to executive director Charles Pennington.

Pennington says that the fiscal court’s approval simply means the money will be available if the deal to purchase the land is approved. If the land is purchased, space will be available for any industries that wish to locate to Laurel County.

In other fiscal court news:

–Vance Mitchell with AOC Division of Capital Construction spoke to Laurel County fiscal court magistrates to request an extension on the judicial center’s janitorial contract.

According to Mitchell, the AOC reimburses 100 percent of operation and maintenance costs for the Laurel County Judicial Center. Mitchell told the court he had not had the opportunity to look at bids for janitorial services, and requested more time.

Mitchell requested until January to review bids, and his request was unanimously approved.

–A deed of easement was approved for Laurel County Transportation and Stream, who needed some additional property owned by Laurel County to build an adequately sized turning lane for school buses at the site of a new vocational school being built on old Hwy 80.

–Chips Lane and Les Hubbard road extensions in District 5 along with extensions for H.C. Drive and Collett Road in District 4 received second approval from the fiscal court.

–A school bus turnaround on Doshia Drive in District 3 was approved.

–Hemmingway Drive and Pay Lake Road extensions in District 1 received first approval from the fiscal court.

–The 2014 budget, 2013 annual order set max, and 2014 annual order set max were approved for the Laurel County Sheriff’s Office. The set max for the annual orders sets a maximum amount for the salaries of deputies and assistants.

–A bid for $15,000 was unanimously approved to upgrade the server for Laurel County’s 911 center. This upgrade will keep servers online and usable. The money is going to Laurel County’s 911 center.

–The cash transfer for the fiscal court was higher than budgeted this year. Though the state reimburses the cost associated with cash transfer, the budget was made before the court was aware of project funds for several improvements to the city. Cash transfer was $195,000 over projection, and the budget must be updated to reflect these project funds.

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