After two postponments, the Louisville Metro Council is scheduled to vote this week on a resolution to purchase the final piece of property for the proposed Center City project downtown.
But first the council wants some changes made to the development agreement between the mayor’s office and Cordish Company, which wants to expand its Fourth Street Live complex on the land.
Some members want more guarantees from Cordish before they will approve the land deal, including a guaranteed minimum $200 million investment in Center City.
Mayor Jerry Abramson said last week he’s hopeful an agreement can be reached before a looming deadline to close on the property.
“We’ve been talking with the council members, we’ve been talking to an awful lot of business people and other developers and they’ve been very positive about this happening and they’ve been very supportive,” Abramson said.
Cordish has said it might abandon the project if the council doesn’t follow through on the land deal.