U of L Foundation repays nearly 75 percent of controversial loan - WDRB 41 Louisville News

U of L Foundation repays nearly 75 percent of controversial loan from university

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LOUISVILLE, Ky. (WDRB) -- The University of Louisville Foundation has repaid part of a controversial loan from the university.

The foundation repaid about $28 million of last year's $38 million loan.

That money was used by the Real Estate Foundation, which has developed several office buildings around Louisville, and the loan was not approved by the university's Board of Trustees.

It was one reason three former trustees refused to approve the university's proposed budget and tuition increases at a meeting earlier this month.

The Real Estate Foundation still has more than two years to finish repaying that loan.

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