NATCHEZ, Mississippi — Struggling biofuel firm KiOR has missed a key payment to Adams County this week that would have allowed the company to continue holding onto its undeveloped proposed industrial site in Natchez.
The Natchez Democrat reports (http://bit.ly/1tnr7UD) the company had a $150,000, six-month contract on the county-owned property, but when the payment was due Tuesday, it was not made.
"I have instructed (board attorney Scott Slover) to respond to them with a letter informing them of the situation so that we will know if they are going to pay or not so we can know if we should put it back on the market," Adams County Board of Supervisors President Darryl Grennell said Thursday.
While the county had at one time committed to building a levee around the flood-prone property, the project never moved forward as the supervisors waited for KiOR to give the nod that it would begin building its infrastructure.
The only money spent on the property was approximately $500,000 to relocate a sewer line that ran across the center of the property to run alongside the existing ring levee surrounding the port.
Information from: The Natchez Democrat, http://www.natchezdemocrat.com/