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Committee approves two KPDI EDF grants; large Berea request deferred for more detail
Summary
Under KPDI round 2 (2024), the committee approved grants for Russell County and Cumberland County but deferred a $4,067,200 request for Berea/Central Kentucky Business Park pending more detailed infrastructure and overlap information.
The committee considered three Kentucky Product Development Initiative (KPDI) round-2 recommendations and unrolled the vote to consider each project individually.
Kylie Palmer, deputy commissioner with the Department for Financial Services at the Cabinet for Economic Development, presented three recommended EDF grants: Russell County Fiscal Court ($788,878; 15% local match), Cumberland County Fiscal Court ($1,273,631; 10% local match), and the Central Kentucky Business Park Authority request on behalf of the City of Berea ($4,067,200; 20% regional match). Palmer said the projects were reviewed and scored by an independent site-selection consultant and recommended by KEDFA with concurrence letters from relevant secretaries.
Committee members asked whether local matches were cash, loans or in-kind and sought detail on the Berea project's planned infrastructure (roads, water, sewer, gas, stormwater). Palmer said local match is provided by the beneficiary (cash or equivalent) and that she would provide more detail on what the Berea funds would be used to pay for. The committee unrolled the motion, approved Russell County and Cumberland County by roll call, and deferred the Berea/Central Kentucky Business Park request for more information; staff said they would bring the Berea item back on the August agenda after supplying requested details.
The committee asked staff to confirm that grant funding would not duplicate special taxing provisions the park may already use to fund infrastructure.
