The Louisville Metro Council has delayed action on the purchase of land for the Center City project until its next meeting.
After being tabled twice in committee, a measure to spend $12.2 million in bonds on the so-called Water Company Block east of 4th Street Live came before the full council Thursday. If approved, the city could buy the land and lease it to the Baltimore-based Cordish Company, which would turn it into an entertainment district.
Council Republicans criticized the measure for not requiring enough from Cordish, which promised to invest $200 to $450 million in the area, but hadn’t signed any agreement to that effect.
Without debate, the council postponed the vote. Councilman Hal Heiner says the agreement with Cordish will likely be reworked.
“Essentially they’ve asked for more time to try to insert some taxpayer protections that should have been in this deal from day one.”
The council meets again in two weeks.