The board of the West End Opportunity Partnership voted 9-9 on the proposal at a special meeting that considered the $2.1 million request
The measure allows other projects in downtown Louisville to seek the same types of tax subsidies the arena uses
Louisville would rebate $5.3 million in local property taxes for the project under an ordinance introduced at Metro Council this week
The West End Opportunity Partnership will decide how to spend revenue from a sprawling tax increment financing (TIF) district across Louisville’s western neighborhoods
The vote marks a win for the development team proposing a hotel, offices and other buildings in Paristown Pointe
A $20 million tax subsidy is one of the final approvals needed for the planned redevelopment of abandoned government-owned land in the Paristown Pointe neighborhood.
The tax increment financing (TIF) ordinance moves to the full council, which could take it up as early as September 19.
Many cities have much stricter requirements for affordable units in projects that receive tax incentives.