Mayor Proposes Bonding Plan For Additional Projects

by Rick Howlett on October 14, 2009

Louisville Mayor Jerry Abramson is asking the Metro Council to approve a $7 million funding plan that he says will help complete several major construction projects.

Abramson says an improved bond market and the availability of stimulus funds will allow the city to move forward on the Glacier Run expansion at the zoo, build a new park along the Floyd’s Fork Corridor and make available the final funds for a new Beechmont Fire Station.

“We have not been able to go to the bond market over the past couple of years because of the financial crisis. In the past, we’ve been using short term financing, we’re now going to save money by doing long-term financing plus using the stimulus bonding capacity in the Build America bonds and in the energy bonds, which saves us some debt service,” Abramson said Wednesday.

Abramson wants to pursue $3.2 million in stimulus bonds for energy improvements for several downtown government buildings.

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