The Louisville/Jefferson County Metro Government (Louisville Metro) is to seek a consultant for the city’s current and future facility needs, including the future use of Louisville Metro Police Department (LMPD) headquarters, the Fiscal Court Building, and potential new construction through a P3 on a parking lot.
The Metro Council approved $100,000 for the study in the 2017-18 fiscal year budget. The scope of the study will include the possibility of new construction, renovation, sale or facility purchase, as well as financing options.
Under the plans, the RFP will be released no later than January 2018, with plans to select a consultant and receive preliminary findings by mid-year.
Council staff and senior police officers presented an update on plans for the project to the Council Budget Committee yesterday. The need for new police, court and jail facilities received wide support from councillors, as did the use of P3.
A resolution to postpone the vote on any future bond issuance, debt obligation, or other major funding project until a proposal for a permanent new or significantly improved LMPD headquarters is presented was defeated.
Last week Louisville Metro sold $30m in bond anticipation notes (BANs) to JP Morgan to support a $200m new soccer stadium district plan. Louisville City FC (LCFC) will develop the project, which will be anchored by a $50m, 10,000-seat stadium. The development will also include retail, a hotel and offices, built by private investment. LCFC will pay $14.5m back to the city over 20 years for the land cost.
The P3 landscape in Kentucky will be discussed at the P3 Hub Midwest 2018 conference on April 9-10. The conference is to be held at the Intercontinental Hotel in Chicago.