Town Branch Commons Work Session Held
Lexington’s Urban County Council received an update on the progress of Town Branch Commons Thursday.
The project is designed to create a trail extending from the Isaac Murphy Memorial Art Garden to Town Branch Park. The first step of this process involves the construction of transportation infrastructure and drainage systems, at an estimated cost of $24 million. According to Downtown Development Authority President Jeff Fugate, the city has budgeted $10 million for Town Branch and has identified several other sources.
“Through the leadership of the outgoing governor, we received two grants to the tune of $7.4 million from the state, those have been awarded, and we have submitted a loan application for the additional funds that would help pay for stormwater infrastructure," he said.
That loan would provide approximately $5.6m, adding up to a total of $23 million. Fugate says they will hear back on the status of this loan in the summer of 2016. The next steps include finalizing the project management team as well as drawing up work contracts.