Local News

November 25, 2013

‘A Good Problem to Have’:

County approves loan for new industrial park

LAUREL COUNTY, Ky. — Laurel County could soon boast of another industrial park and even more businesses in the area.

In the regular monthly meeting of the Laurel County Fiscal Court on Thursday morning, magistrates approved loaning money to the London-Laurel County Industrial Development Authority to purchase property for another industrial park.

This property is located in the Fariston area and will be paid for through a loan from the fiscal court from the Community Development Block Grant fund. Laurel County Judge Executive David Westerfield said the county will set up a “very low” interest rate on the loan so the property can be purchased.

“We have to get some more land,” Westerfield said. “We’re out of room in our industrial parks — which is a good problem to have — but we need to buy some more property for another one.”

The CDBG grant is held in a special fund by the fiscal court, but its purpose is to provide money for industrial development projects. Westerfield said the property available in the Fariston area totals 98 acres, although the industrial authority will only purchase 45 acres “at this time.” The amount for the new park will range between $275,000 to $300,000. Deputy Judge Executive Rick Brewer said there was “not much more than that” in the CDBG fund.

Magistrates also approved Westerfield to submit a sealed bid on another property, although no details of that were released during the meeting. Westerfield said the bids had to be sealed but if the county won the bid, the details of the location and price would be announced when the bid was awarded.

Laurel County Clerk Dean Johnson requested reimbursement for valet parking at a recent County Clerk’s convention in Louisville, which was approved by the fiscal court. Johnson said he was told his vehicle was too large for the available parking facility at the convention site and his only other option was a graveled and unguarded lot in the downtown area near the convention site.

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