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Richmond commits 50% local match for KPDI award to build Industrial Park entrance

Richmond City Board of Commissioners ยท January 30, 2026

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Summary

The Richmond board authorized serving as grantee and providing a 50% local match for a $498,000 Kentucky Product Development Initiative award to fund an industrial park entrance; staff said the city's share (~$249,000) will be identified in capital projects or a February budget amendment.

Richmond, KY

The Richmond City Board of Commissioners voted to accept participation in a Kentucky Product Development Initiative (KPDI) award for the Richmond Industrial Park South 4 project and to provide the required 50% local match.

Staff reported the KPDI allocation for Richmond is $498,000 and that the program requires a 50% local match. City staff said they will identify roughly $249,000 in available capital-project funds or include the match in a February budget amendment. The project funds would help construct an entrance to Industrial Park South 4 on Duncannon, staff said.

City Manager told the board that recent KPDI rounds did not fund this project initially but that earlier unspent 2022 funds were tapped for the award; he said the city's participation is conditioned on further approvals by the Kentucky Economic Development Finance Authority and other state-level administrative steps.

The board approved Order 26-O16 by roll call; commissioners indicated support for the project's potential to attract jobs and leverage local industry investments.