Fiscal Court approves financing steps, $216,176 payment toward 105 Industry Drive acquisition; KPDI reimbursement expected

The Woodford County Fiscal Court approved the closing statement and financing documents related to the proposed acquisition of 105 Industry Drive (the Yokohama facility) and authorized a payment of $216,176.37 to the City of Versailles as part of the purchase financing.

The judge told the court there are two related closings: the financing/bond closing and the real-estate deed closing. The bond closing was scheduled for June 24 and the real-estate closing was projected for June 30; the judge said the county’s down payment would be reimbursed to both the city and the county through a KPDI grant after the closing.

Squire Gentry moved the committee recommendation to approve the closing statement, financing and down payment; the motion carried with two recorded nay votes but passed overall.

The judge emphasized the county’s intent to recruit a community business partner for the property to preserve jobs and avoid incompatible uses such as data centers, and noted Yokohama would still retain some employees in part of the building.

The court also discussed that the financing terms and a $2 million grant or other opportunity grants have helped lower the county’s required down payment from earlier projections.

What happens next: officials said the county will complete the financing closing and real-estate closing, issue payment to the city, and seek KPDI grant reimbursement. The court asked staff and consultants to continue outreach to potential community partners and coordinate with MWM Consulting and city partners on industrial reuse options.