Louisville Metro enters into agreements with property owners and developers where the private sector is close to completing a deal but needs assistance to get it all the way done. Government assists when the project benefits the community and brings new investment and jobs to an area.
The following are different kinds of agreements that the city has completed to bring economic vitality to our community.
Development Agreements - agreements between a private developer and Louisville Metro, which require the developer to perform specified activities in connection with real estate projects and obligates Louisville Metro to provide certain financial or other incentives, provided the company performs its obligations.
4th Street Live! Center City
NewBridge Crossings Muhammad Ali Center
RiverPark Place 26th Street Rental Corp.
Tax Increment Finanacing Agreements - Pursuant to state statute, a company desiring to construct certain types of projects may apply to Louisville Metro and the Commonwealth of Kentucky to obtain certain financial incentives. The program permits a company to use future increases in taxes on the area of project to help fund current infrastructure improvements for the project.
Downtown Marriott Hotel Center City
Louisville Downtown Medical Center GE Appliance Park
UofL Belknap Campus Renaissance Zone
Leases - The city may lease publicly owned real estate or buildings to private companies to induce the company to locate or expand in Louisville.
City as Lessor
Louisville Slugger Field Sons of American Revolution
Preston Pointe Aegon Plaza
Downtown Marriott Hotel African American Heritage Center
Kentucky Theatre Galt House
Park DuValle Town Center Airport Industrial Center
RiverPark Place 26th Street Properties
Muhammad Ali Center The Harbison
City as Lessee
Nia Center Cabel Street Properties
League of Women Voters
Grant Agreements - In order to induce companies to undertake significant projects in the city, Louisville Metro may make a cash payment to the company, conditioned upon the performance by the company of specified activities.
SAL Louisville Whiskey Row
Real Estate Option - If Louisville is considering purchasing a parcel of real estate, it may enter into an option agreement with the property owner, which gives Louisville a certain length of time to decide if it will buy the real estate for an agreed upon price.
West End Boys LLC