On July 28, 2008 the Commonwealth of Kentucky gave the City of Powderly $1,000,000.00.
Powderly best known as the birthplace of actor James Best, no pun intended.
The money was to be used to “Rehabilitate/reconstruct twelve (12) low and moderate income (LMI) owner-occupied structures with new replacement homes on existing lots.” I’m not sure how you rehabilitate/reconstruct new replacement homes but it looks like it costs an average of $83,333.33 per house.
According to the 2000 US Census Powderly had 256 owner occupied houses with a median value of $42,100.
The numbers just don’t work for me. It just seems a bit expensive when you factor in that the home owner already has to have the lot so there is no land cost. So the value of the houses would be somewhere in the area of $100,000.00. I wonder who got new the new houses.
Maybe that was what Ed Whitfield and Rand Paul were discussing when they were in Powderly. Rand was probably wanting the town to give the money back since it did originally come from the federal government.
On a side note Rand does kind of favor James Best.