By Sheila Ash
The University of Louisville is planning to develop a $1 billion research park just south of its Belknap Campus.
The University of Louisville Foundation, which owns the property, and U of L’s Life Sciences Initiative, called Nucleus, announced the project Monday.
President and CEO Vicki Yates Brown, says they began the process this week.
“The first step is that we have filed with Metro Government an ordinance and a local participation agreement asking for the establishment of a TIF district around the core Belknap Campus,” she said.
TIF or tax increment financing allows for certain taxes to be used to pay for the project.
The facility will be built on 44 acres and focus on applied sciences and engineering.