kfc yum center

Lexington Gets Update on Rupp Arena Project

Stu Johnson | Kentucky Public Radio — Wed, 24 Apr 2013 18:53:40 +0000

In about a month, more details are expected on who should design the renovation of Lexington’s Rupp Arena.

Noise and Notes: Not-So-Super PAC Progress Kentucky, Yum Center Woes, 'Cannabis Majority'

Phillip M. Bailey — Sun, 03 Mar 2013 03:42:47 +0000

The Louisville-based super PAC Progress Kentucky made national news this week when WFPL broke the story of them attacking Senator Mitch McConnell’s wife based on her Asian heritage.

Leaders with the group have apologized—twice, but just about every Democrat has denounced them or kept their distance, and McConnell has pounced on the comments since returning home.

Even the senator's harshest critics have cried foul.

From The Courier-Journal:

This is no way to defeat McConnell. If anything, it does what McConnell cannot do for himself. It remarkably casts him in a sympathetic light.

But some observers have pointed out Progress received sparse coverage from the local media to being with while getting plenty from national outlets.

Report: Virginia Beach No Longer Seeking NBA Franchise

Joseph Lord — Wed, 09 Jan 2013 11:00:00 +0000

One fewer city is pursuing an NBA franchise.

Virginia Beach's mayor said Tuesday that the city is "withdrawing" from efforts to build an 18,500 seat arena in the community with an NBA team as the main tenant, the Virginian-Pilot newspaper reported.

Standard & Poor's Revises Outlook on KFC Yum! Center from 'Stable' to 'Negative'

Joseph Lord — Fri, 07 Dec 2012 20:08:32 +0000

Standard & Poor's on Friday revised the outlook for the bonds used to build the KFC Yum! Center from "stable" to "negative" -- citing several areas of uncertainty.

In announcing its decision, S&P cites the Louisville Arena Authority's reliance on tax increment financing, concerns about efforts to stabilize operating costs and questions about the arena's ability to bring new revenue under its new operator, AEG. The rating on the bond remains BBB-.

The tax increment financing has the potential to be volitile, S&P said.

State Fair Board Approves Budget For Fiscal 2013

Rick Howlett — Thu, 27 Sep 2012 20:30:39 +0000

The Kentucky State Fair Board has approved its operating budget for fiscal 2013 that includes a projected deficit of more than $5.4 million.

Business First reports that the budget was approved during Thursday' monthly fair board meeting.

The budget forecasts a net income of more than 476-thousand dollars but also projects nearly $3.7 million in capital expenses and $2.3 million in construction expenses.

Arena Authority Seeks New Management for Yum Center

Gabe Bullard — Mon, 11 Jun 2012 17:03:16 +0000

The Louisville Arena Authority wants new management of the KFC Yum Center.

The authority voted today to look into dissolving its management agreement with the state fair board and inking a new deal with a private firm.

“When you're trying to manage the Yum Center, the convention center and Freedom Hall, I think it's just hard to focus on controlling expenses at the arena because it's not their first priority," says Metro Council President and authority board member Jim King.

Moody's Downgrades Arena Bonds

Gabe Bullard — Thu, 31 May 2012 21:53:14 +0000

Moody's credit rating agency has downgraded the bonds used to finance the KFC Yum Center, citing high operating costs and poor performance of businesses around the arena.

Part of the plan to pay off the bonds relies on tax increment financing. A TIF district was created in downtown Louisville so any development spurred by the facility would help pay the debt. The arena was supposed to give downtown development a boost, but Moody's says the TIF district may not be enough to support the arena.