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Pocatello approves money for long-vacant Hoku plant

The former Hoku site
KIFI/KIDK
Portneuf Capital, LLC finalized a deal to purchase the former Hoku site from the Pocatello Development Authority in December.

POCATELLO, Idaho (KIFI/KIDK) - Pocatello is flowing some money into the long-vacant Hoku plant.

On June 2, the Pocatello Development Authority approved the use of $420,000 to improve utilities at the plant, according to interim director

The money comes from the North Portneuf tax increment financing (TIF) district. TIFs are programs designed to funnel money from future property tax revenue in the district in order to revitalize the area.

Hoku was built in 2007 but was never used. Ownership changed hands a few times over the years, but now Portneuf Capital plans to turn it into an industrial park.

The money from the TIF district will be used for power, gas and fiber optic infrastructure.

News / Pocatello / Top Stories
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Emma Iannacone

Emma is a reporter for Local News 8 and KIDK Eyewitness News 3.

Comments

1 Comment

  1. Can someone explain to me how it’s ok for an ex-city employee to purchase a facility thats worth around $200 million dollars for 1.4 million and then get a $400k grant of taxpayer money in order to use it as an industrial park where they’ll be making Tires and polluting the Pocatello air even more than Simplot does? I’m totally dumbfounded by this whole deal and no o e seems to think twice about it

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