Lexington’s Urban County Council added a measure to Thursday’s docket that continues action on restoring the Fayette County Courthouse.
The resolution would create three private entities that can take advantage of historic tax credits to pay for the building’s renovation. It would also authorize a $12 million loan to fund initial operations. Senior Administrative Officer Jenifer Wuorenma says in addition to overseeing interior and exterior construction, the entities would also carry out day to day management of the building.
“When you’re thinking about this building operating on a daily basis, this is the group that does that. It’s not the LFUCG, it’s no longer part of anything we’re doing. There will be a lease and they will take care of all those details. It’ll be a 75 year lease, which you’ve seen. That will be up for your vote Thursday,” she told the council.
In addition to the loan, the city has already pledged $22 million for fiscal year 2016 to pay for courthouse restoration. The measure will receive first reading at Thursday’s council meeting, and if approved, Wuorenma anticipates exterior construction to begin in May. More information on the plan and legal entities can be found online at lexingtonky.gov.