Lawmakers commit more than $1B to support Louisville this legislative session
It took nearly the entire legislative session, but Kentucky lawmakers reached a deal on the state budget, setting aside $32 billion for the next two fiscal years.
Mayor Craig Greenberg on Thursday said that, coupled with additional spending-related measures, the investments in Louisville exceed $1 billion.
“I'm incredibly grateful to the Kentucky General Assembly for once again making significant investments in the future of Louisville and Kentucky,” he said.
Greenberg expressed gratitude for the commitments to the city and elaborated on areas that will be supported by the money.
Those priorities range from food insecurity and housing to education, public safety and the arts.
The funds will create two new first responder training facilities in Middletown and southwest Jefferson County. It will help complete the yearslong development project to transform the Rhodia Chemical Plant site in Park Hill and neighboring Algonquin.
The support will aid organizations like Dare to Care, the Kentucky Center for Performing Arts, and the Louisville Zoo; it also plans to build a new research building at the University of Louisville and reopen the city’s youth detention center.
“The state is hard at work at making that happen. My understanding is it will be open by the end of next year,” Greenberg said.
There's $90 million to support downtown revitalization, including the Belvedere project and the redevelopment of the Humana building, with tax credit provisions facilitating a large-scale hotel and convention space.
The goal is to drive tourism and attract high-profile events to Louisville.
That momentum continues with funds for improvements at the Louisville airport and a sales tax exemption for on-site sales at Valhalla Golf Club during major tournaments.
“We show every year the great hospitality that we can offer and the great hospitality infrastructure that we have here,” Greenberg said. “We're excited to have the opportunity now to welcome even more large-scale championships to Valhalla in Louisville, Kentucky, to let our city to shine on the world stage.”
With the help of state money, Louisville will continue investing $700 million in infrastructure over the next two years, including road improvements.
“This includes expanding Plantside Drive, which has been one of our top priorities for eastern Jefferson County, widening Taylorsville Road, improving US 60, and so much more,” the mayor said. “I hope that just gives you a feel for the impact, positive impact that these investments will have on our city and our state for generations to come.”
The state budget and other spending measures will now be sent to the governor's desk for consideration.
If Beshear vetoes any line-items, lawmakers could override it when they return to Frankfort April 14 and 15 to close out this year’s legislative session.
