The Kentucky Transportation Cabinet announced late Friday that an agreement has been reached for the state to purchase the Drumanard Estate, a key element of the planned East End Ohio River Bridge.
The state will pay $8.3 million for the estate. An approach to the bridge will be dug under the property, with the state placing a preservation easement on it.
The KYTC issued this release Friday:
FRANKFORT, Ky. (March 16, 2012) – The Kentucky Transportation Cabinet (KYTC) has contracted for purchase of the historic Drumanard Estate in Jefferson County, taking a significant step toward realization of a long-sought East End Bridge over the Ohio River.
The cabinet will pay $8.3 million for the approximately 50-acre property owned by Soterion Corp. Closing of the purchase is to occur on or before April 17.
An East End Bridge connecting Prospect, Ky., and Utica, Ind., is part of the Louisville-Southern Indiana Ohio River Bridges Project. Kentucky and Indiana are splitting the project into two procurements – Indiana contracting for the East End crossing and Kentucky contracting for a downtown Louisville bridge and approaches on both sides of the Ohio River.
Under terms of the Record of Decision for the project, the approach to the East End Bridge will be tunneled beneath the Drumanard property. KYTC will place a preservation easement on the property, which is listed on the National Register of Historic Places.