Legal Agreements

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.            
Michters Distillery                                      Paristown Preservation Trust

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
Churchill Downs

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.

BAE                                                              Cordish
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.

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