GEORGETOWN, Ky. (WKYT) – The future of Georgetown's proposed “Triple Crown” regional business park is in jeopardy after the City of Richmond voted against participating in the project and contributing $500,000 to the project. It's going to be different.
Six government agencies from Scott, Fayette, and Madison counties were scheduled to participate. But after about an hour of discussion in Richmond on Tuesday night, that number was reduced to five.
The City of Richmond voted 3-2 against the motion, with Mayor Robert Blythe casting the final vote. This will be a financial blow to the project, as each participant will be funded through a state KPDI grant.
“If Richmond puts in $500,000, your equity ownership is $1 million,” said Lucas Witt, a consultant on the project.
The Madison and Scott County Fiscal Courts approved the project, as did the city of Berea.
But a way forward must be found without Richmond, and one opposing committee member noted Tuesday that citizens do not agree with the proposal.
“I think this is a great idea,” Commissioner Jim Newby said. “However, some constituents called me to express their concerns…Unfortunately, I was unable to convince them.”
Spokesman Tyler Glick, who works with the partners, said the company is currently “working toward a revised revenue-sharing agreement.”
His full statement further reads: “The revised agreement will be considered by the respective legislative bodies. There continues to be a great deal of regional cooperation regarding business parks, and in addition to recognizing the benefits of regional economic development cooperation, partners will “We also recognize the benefits of working together to leverage special federal funding, create revenue and jobs, and keep central Kentucky's economy moving.”
Meanwhile, Lexington's Urban County government and Georgetown City Council have yet to vote, with the latter currently the most powerful.
“The obvious problem is that if Georgetown or Scott County votes against it, the project won't happen at all,” Witt said. “We can't do it without them.”
The agenda for Thursday's Scott County Fiscal Court meeting has been updated to include discussion of a “revised interlocal agreement.”
Lexington is also scheduled to vote on the project on Thursday, while Georgetown will decide next Monday, Oct. 28.
Even if the remaining partners agree to the amendment, it would still require final approval from the state's Economic Development Cabinet. Everything needs to be completed by December, Witt said.
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