Louisville Metro Council considers plan to expand Downtown Management District
LOUISVILLE, Ky. (WDRB) – Members of Louisville Metro Council are considering a plan to expand the Downtown Management District.
The plan has been in the works for about a year-and-a-half according to Old 502 Winery President and Master Winemaker Logan Leet.
“As soon as people feel comfortable that there's something to visit here,” Leet said. “I believe they're going to be here and we have that now.”
Working with the Louisville Downtown Partnership, a group of businesses got the ball rolling to be included.
“One of the most rewarding things about this expansion is the businesses approached us,” said executive director of the Louisville Downtown Partnership Rebecca Matheny. “We didn't hear a single concern from any businesses or property owners, we really only had very positive feedback.”
In order to even be considered, property owners in a given geographical district have to petition to be a part of the Downtown Management District. At least 33 percent of properties representing 51 percent of the land value in a given area. Matheny says those thresholds were well exceeded in this case.
"I think a lot of this area’s opportunity is people aren't aware of the assets that are here,” Matheny said. “We really feel it’s the most natural progression for downtown.”
Primarily, properties in the district will receive help in beautification services as well as marketing and events. Leet says the biggest challenge is changing the perception of the ‘Ninth Street Divide.’
“The idea would be to have that streetscape that we're used to on Main Street at Museum Row,” Leet said. “Just move on down the street a block or two.”
The primary zone that will be expanded is north of Market St. to Rowan street from Ninth street to 12th street.
“It's going to be a lot easier to do that with people like Peerless Distilling down there and we've got other business that are getting ready to go,” Leet said.
In order to pay for the improvements, all property owners in the area are subject to a non-voluntary assessment on top of existing property taxes.
The final hurdle to put the plan in place is a vote by Louisville Metro Council. The plan has already passed the Labor and Economic Development committee. It will be put to a vote Thursday at 6 p.m. at City Hall.
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