Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Court approves conditional tax-incentive resolution for DRC Industries application
Summary
Carroll County approved a resolution conditioning county tax incentives for DRC Industries on the company’s approval to the state KBI/KPI economic development program; the county’s participation is contingent on state approval and the instrument was passed by voice vote (tallies not specified).
Carroll County’s fiscal court moved to accept a resolution on March 24 that would conditionally grant tax incentives to DRC Industries if the company’s application to the state economic-development program is approved.
The resolution cited a county plan to provide an occupational‑license/tax incentive of approximately 1% for a period not to exceed 10 years and tied county obligations to state approval under Kentucky’s business incentive program. The county’s obligation to grant incentives will hinge on DRC Industries’ intention to apply and on final approval by the Kentucky cabinet for economic development.
A commissioner asked whether an alternative would be preferable; one participant observed that the estimated direct county cost “would not end up being $5,000,” characterizing it as modest. The record shows the motion to accept the resolution was made, seconded and approved by voice vote; exact roll-call tallies were not recorded in the minutes.
The resolution does not itself commit the county to pay incentives until the company’s application is approved by the state; it simply authorizes conditional participation pending state action.
