Louisville Metro Government has finalized a deal for the redevelopment of the former Urban Government Center on Barrett Avenue. The 12-acre site will be redeveloped by the Marian Group, but it’s contingent on getting tax increment financing.
The proposal includes townhomes, shotgun-style single family homes, rental units and condos, as well as office and commercial space and some affordable housing.
I spoke with Theresa Zawacki, Senior Policy Advisor with Louisville Forward, about the project. You can listen to our conversation in the media player above.
Zawacki on granting tax increment financing:
"There are minimum requirements in the state's statutes for when you can even use tax increment financing to support a project. And that this point I think it's important to note that the city hasn't committed to using tax increment financing as a tool to support this development but we've certainly left the door open for that possibility. It's something we will consider as we understand more about the financing for the bigger piece of the development."
On the affordable housing component :
"Three (of 22) of the single family houses that will be built on Vine Street are proposed to be built for families at or below 130 percent of area median income."
The project is slated to begin no later than next April.
