Beech Tree News Network

UPDATE: According to Morgantown Mayor Billy Phelps, he recieved an e-mail on Friday, February 13, 2015 stating that Kentucky Copper would be unable to make the agreed payment on Sunday, February 15, 2015. 

"At that point we (Ccty) secured the facility and nobody with Kentucky Copper will be allowed in the building.  I also contacted the city attorney, John King, and advised him to start legal action," said Phelps.

Kentucky Copper did advise that they planned on meeting the March deadline, according to Mayor Phelps.

"We must do what is best for the city and move forward," added Phelps.

---

ORIGINAL STORY:  

January 20, 2015-Morgantown's Industrial Holding Corporation (I.H.C.) held a called meeting on Friday, January 16.  The I.H.C. went into closed session to discuss a “Work-Out Agreement“ proposed by Kentucky Copper that was given to the city on Thursday, January 15.  After the closed session, the I.H.C. came back to open session and approved the agreement. Councilmember Dionne Merritt made the motion to accept the agreement and Allen Meredith seconded the motion.  The motion passed on a 5-1 vote with Councilmember Russell Givens voting against the measure.
Givens, in explaining his vote against the agreement, suggested that it's time for the company to meet its obligations.  

“We (I.H.C.) have worked diligently with Kentucky Copper and now it is time for them to honor their commitment to the city," said Givens.  "I truly hope they (Kentucky Copper) prove me wrong.”

According to the agreement, Kentucky Copper has until February 15 to start making payments to the city. 

“I think Kentucky Copper is trying to make the business work," said Morgantown Mayor Billy Phelps.  "We were going to have to make the payment on February 1.  This agreement gives them 14 additional days. We can only wait and see,” added Phelps. 
Kentucky Copper signed the "Work Out Agreement" on Tuesday morning.