City, County Leaders Work on Genova Building Loans
By Bill Hughes
PADUCAH - City and County Leaders met again Wednesday night to authorize the execution of loan and lease agreements for a proposed new occupant of jointly-owned property at 5400 Commerce Drive.

On May 11, it was announced that Plastic Services and Products, a manufacturer of plastic pipe, fittings and vinyl fencing, hopes to re-establish production in the former Genova Products building. The Utah-based company anticipates hiring 80 employees in the coming weeks to re-establish production, eventually hiring up to 125 people.

After meeting in executive session Monday for about an hour, and again Wednesday night for about 90 minutes, both groups of elected officials passed emergency ordinances authorizing the execution of the agreements. They give Mayor Brandi Harless and Judge-Executive Craig Clymer the authority to negotiate details regarding future use of the property, and they transfer the agreements to KSR Legacy Investment Corporation. Discussion with the business could include the sale of the property. 

The ordinances were passed unanimously by both bodies, however, City Commissioner Gerald Watkins was not online when the city vote took place. He had participated in the meeting, and others suspected he was accidentally kicked out of the online meeting. 

Genova leased the building in 2014 and added the purchase value of additional equipment in 2016. They still owe $646,000 on the loan. 

Genova cited a materials shortage when they began laying off employees last October, and said a lack of bank funding led them to close the facility in January. Former employees filed a lawsuit against Genova in February, claiming they weren't properly notified of the layoffs, as required by federal law. 

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Published 08:10 PM, Wednesday May. 20, 2020
Updated 04:47 PM, Thursday May. 21, 2020



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