Mayor Fischer proposes $30 million bond for soccer project

September 25, 2017

Also will seek an additional $30 million for other economic development plans

Mayor Greg Fischer today proposed a $30 million bond ordinance to support the Louisville City Football Club soccer stadium and district announced last week, and said he will soon propose another $30 million in bonds for several other economic development projects.

The bond introduced at Metro Council today and sponsored by 4th District Councilwoman Barbara Sexton Smith would provide $30 million to buy about 35 acres of land in Butchertown for the stadium, as well as brownfield remediation and public infrastructure improvements.

(Learn more about the soccer stadium development project)

Projects that may be supported in future bonding include:

  • The Louisville Urban League’s $30 million plan for a state-of-the-art multi-sports complex anchored by an indoor track and field facility on the 24-acre Heritage West property located at 3029 W. Muhammad Ali Blvd.
  • The $35 million plan to expand Waterfront Park into Russell and Shippingport, including plazas, pathways, play areas, green spaces, footbridges, sculptures, historic elements, and fountains, and an extension of River Road from where it currently ends near 10th Street to around 14th Street.
  • Improvements at Riverview Park, 8202 Greenwood Road, in southwest Louisville.

“Each of these developments represents a major quality-of-life and economic development boost to our city,” the Mayor said. “These are smart opportunities, and when opportunities to move our city forward come up, we’re going to go for them.  That’s how you create momentum, and that’s how you keep it going for the future of our city.”

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Councilwoman Sexton Smith said: "This is a strategically aligned business decision that will create jobs taking into account the taxpayers’ money first. One hundred percent of our funds will be used to purchase the land and improve the infrastructure. The best part is we will receive $14.5 million in lease payments and another $15 million in projected property taxes over the next 20 years. It's a great deal for our city, with Butchertown leading the way!"

 

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