Maureen Carpenter, executive director of the Barren County Economic Authority, explains the advantages of improving Cave City’s industrial park. She described the measures at Cave City City Hall on Monday, March 8, 2021. Chapatcha Park was developed after a generous donation of land by the late Wayne Gaunce in 2015.
(BRENNAN CRAIN/WCLU NEWS)
CAVE CITY, Ky. — Major improvements will soon be made to Chapatcha Park in northern Barren County in an effort to improve economic development and industrial recruitment efforts.
The industrial park is located alongside Interstate 65 and Highway 70. The park is located near the Cave City Convention Center.
The land was donated in 2015 by the late Wayne Gaunce. The park is named after Gaunce’s late wife, Chapatcha.
Necessary upgrades to the land include grading and sinkhole remediation.
“The people we have in place, and the people that’s watching over what we’re doing,” said Barren County Judge Executive, Micheal Hale, “I feel like it’s time. The right folks are where they need to be.”
Cave City has invested $1,558,500 into the park’s development since the land’s donation. Most of the expenditures came from grant monies, including a state grant to pave a roadway into the area and install necessary lighting. The grant was worth $600,000.
Approximately $100,000 has been contributed from funds other than grants, according to Cave City Mayor D’Wayne Hatcher.
Maureen Carpenter, Barren County Economic Authority executive director, explained the effectiveness of grading and developing the land.
“I can’t show that site the way it is,” Carpenter said. “You bring a prospect in, all they see is time, money and risk.”
Those improvements and preliminary works would be conducive for industry receptivity, Carpenter said.
Hale and Carpenter were present to urge the council to use some of the bonding debt that the fiscal court expects to accrue in May. An interlocal agreement will be drafted between the court and council that would allow a portion of the loan to be used by Cave City.
“I think it’s just a good time for us to move forward as Cave City,” said Councilperson Beverly Ford. “We’re going to need this. It will be valuable to the community. And we are an access point where we are located. I think it’s time to develop it. It’s time to move forward.”
The bond debt is estimated to be $5 million, but Hale said the debt could be up to $10 million. The largest portion of the debt will go toward development of the South Cooper Industrial Park in Glasgow. The park will be developed along U.S. 68.
Cave City’s park development stalled, but the actions Monday demonstrated a commitment to increase economic and industrial efforts in Barren County’s interstate corridor.
“There aren’t very many build ready sites in the state of Kentucky,” Carpenter said. “And to have three on the interstate, I think is going to be very powerful.”
The council agreed to proceed with the sinkhole remediation of the park and approve up to $750,000 accruement of the bond debt. The vote was unanimous.
“I think this is the correct move, the only move for us to move forward for the county and economic development authority,” Hatcher said.
Site work is scheduled to begin in June, according to a presentation delivered by Carpenter.
The Glasgow City Council also plans to consider accruing a portion of that debt at a later time in hopes of contributing to the major economic development expansion efforts.
