Louisville officials are reportedly considering a measure that would delay the expiration of city funds associated an Omni Hotel project through the end of the year. Louisville Business First reports that the funds for the $261-million development are set to expire on September 1.
The project would include a hotel with as many as 25 floors along with a 200-unit luxury apartment complex and a grocery store. It would located on the block bounded by Muhammad Ali Boulevard and Liberty, Second and Third streets.
Louisville Metro Council's budget committee will on Thursday discuss the delay for "funds appropriated for downtown land acquisition and other costs associated with Metro Government’s contract with Cordish Development," WDRB reported.
A deal announced in March calls for the Metro government to provide Omni and Cordish with about $17 million worth of land that's already been purchased. And Louisville's parking authority is set to build a $17 million parking garage.