Business First • December 29, 2010
It might be March before the park’s fate is known. Or, it might not. The Kentucky State Fair Board reached an interim agreement in the spring with Kentucky Kingdom Redevelopment Co. to redevelop and reopen the park. In October, that agreement was extended to March 31, and officials said the park would not open in 2011. Now, it appears that financing will be sought through the 2011 Kentucky General Assembly.
Passport Health Plan
Kentucky Gov. Steve Beshear says the state won’t renew its contract with the Medicaid-funded plan unless “significant changes” are made.
Passport named accountant Mark Carter interim CEO after a state audit raised questions about the plan’s management and practices.
Will 2011 be the year that this $465 million project gets off the ground?
The project’s developers got good news in November, when an official with the U.S. Department of Housing and Urban Development said HUD is “optimistic” that it could approve a $100 million loan for the 62-story building.
The developers just need to line up $140.5 million in conventional financing and submit paperwork.
Amid continuing financial struggles, the orchestra sought Chapter 11 protection earlier this month. To cut costs, management sought to reduce the number of full-time musicians to 55 from 71, to cut salaries and reduce the number of weeks in the season to 31 from 37.
The Louisville and Southern Indiana Bridges Authority had its first official meeting in 2010, and its accomplishments included creating a financial plan for the Ohio River Bridges Project.
That plan called for about half of the $4 billion cost to be covered by tolls on interstate highway bridges, which sparked concern about the impact of tolls on the cost of doing business.
Next up for the authority is a study in the first quarter to project the volume of traffic on the bridges, which will be used to determine the tolling charges.
Construction on the project is expected to begin August 2012 and be completed by June 2022.
Jefferson County Public Schools
We don’t know who the next superintendent will be, but Sheldon Berman’s last day in the position will be June 30. The Jefferson County Board of Education’s decision not to renew his contract caught many by surprise. Now, the Louisville business community and others will be watching carefully to see who the board picks as his replacement.