July 23, 2008
- Idaho Falls, Pocatello, Blackfoot - Idaho
Money for Hoku Plant Construction Process
By Wes Horrocks
The Pocatello City Council will consider spending thousands of dollars related to the the construction of a Hoku Material's plant. This only days after Hoku announced they lost a $110-million financing deal.
Despite the huge financial loss, Hoku officials say they still plan to be up and running in 2009 and pocatello seems to agree. Hoku announced the loss of the multi-million dollar deal yesterday, saying they hope to replace the $110-million with stock offerings. Eyewitness news has learned that at tomorrow's budget amendment meeting the Pocatello City Council is expected to approve $175,000 for a Califonia company to inspect the construction process. David Swindell, Pocatello Chief Financial Officer said, "We're not staffed with the expertise or the numbers of building inspectors necessarily to do all the things that need to be done out at the hoku plant. So we're going to hire some of that work done. The council is also expected to reimburse the water department $122,000 for upgrades they made at the plant site. This mid-year budget adjustment is not uncommon, but is normally done around September. Alltogether the council will have to decide whether to approve budget increase of about $11-million. The City Council meeting will be held on May 15th at 6:00 PM at the Pocatello City Hall. |
YouNews
Catch up with your favorite shows online. Stay Connected |
Connect with KIDK
Most Popular
|
You
