Since Governor Beshear approved the sale of $100 Million in GARVEE bonds, (Note: He's authorized to approve another $131 Million.) Kentucky appears to be moving forward with significant land acquisitions. Early reports were that nearly all of the planned purchases were in the east end, the exception being the Baer Fabrics building. However, the article in today's paper said that there's been $40 Million set aside for land acquisitions downtown.
We will keep you posted if there are any plans to raze the building. Louisville clearly needs to pay more attention to preserving our built environment. Look no further than D&W Silks to see what happens when we don't actively promote historic preservation.
This from the Bridges Project's press release:
"This week, we're contacting all residential property owners in Kentucky, plus the owners of some major parcels in downtown Louisville," according to Gary Valentine, project manager for the Kentucky Transportation Cabinet (KYTC). "We want to buy as much property as we can in the coming months."
"We've gotten a head start on right-of-way acquisition by purchasing about one-third of the East End parcels that require relocation," said Valentine. "We also made a strategic decision to buy the Baer Fabrics building when the company went out of business. Now we're moving forward with the rest of our right-of-way plans in Kentucky. For the residential owners, the next step is to have their properties appraised then we'll make offers. In the downtown area, we'll move forward on some major parcels."