Pocatello approves money for long-vacant Hoku plant

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.