The Republicans who make up the Louisville Metro Council’s Minority Caucus have pledged to vote against further funding for the Center City project. Center City would essentially be an extension of 4th Street Live, developed by the Baltimore-based Cordish Company.
Cordish’s agreement with Louisville calls for the city to lease the so-called water company block east of 4th Street Live to the developer. Next week, the Metro Council will vote on a funding plan to purchase the block.
“If we do have borrowing power in the city, we should hold it for a major employer and not primarily entertainment,” says Heiner.
The Mayor’s office says the nearly $16 million needed to purchase the block will bring between $200 and $450 million of investment to Louisville.