The McCracken County Fiscal Court met Wednesday on Zoom to authorize the sale of the former Genova Products building to KSR Legacy Investment, Corp.
The court met for the second reading and adoption of an ordinance that approves the $3.6 million sale of the property at 5400 Commerce Drive. The ordinance transfers the loan and lease agreements from the City of Paducah and McCracken County to KSR Legacy. Utah company Plastic Services and Products is planning to re-establish production in the Genova building. Commissioner Bill Bartleman commended PSP. He said negotiations were smooth and PSP was willing to pay the appraised price for the building.
“And it’s good for the taxpayers to sell the building and it’s good for the community to have this long-term economic investment in the community and creating 80 jobs now, 125 later, and as they expand into this region of the country maybe even more,” Bartleman said.
Attorney Kerry Smith said the closing date for the property is Friday. PSP manufactures plastic pipes, fittings and vinyl fencing.
