June 6 Hearing Set for Proposed Payette Nuke Reactor

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A hearing has been set for what Alternate Energy Holdings Inc. says would be "the final approval by the state of Idaho" to build a nuclear reactor in Payette County.

On June 6, Payette County Commissioners will consider AEHI's request to rezone 5,300 rural acres from agricultural to industrial. Payette's Planning and Zoning Commissioners recommended approval of the rezone at a December 2010 meeting.The mayor and City Council of New Plymouth have written to county commissioners supporting the project.

With promises of thousands of jobs and an increasing tax base, AEHI CEO Don Gillispie said he wants to build a $10 billion reactor near New Plymouth. Last December, the Securities and Exchange Commission accused Gillispie of a "pump and dump" scheme, misleading investors with fraudulent press releases and then selling the stock at inflated prices. But in February, U.S. Judge Edward Lodge unfroze the company's assets, putting AEHI back in business. As of this morning, AEHI stock was trading at 11 cents a share.