Tagged: development

Louisville's annual IdeaFestival draws top thinkers to the city. Ideally, it gets people talking about the city as well. This year's festival did just that, but the most recent chatter isn't entirely flattering.

The Derby Clock (technically called the Louisville Clock) is back on Fourth Street. 

Barney Bright's kinetic sculpture was first dedicated in 1976 in the Louisville Galleria. Over the subsequent 36 years, the clock has been broken, repaired and moved. It was placed in Theater Square last year and crews have spent the last few weeks making sure the carved figurines that run a mock horse race around the clock are in working order. 

The Sheppard Square public housing development is coming down.

The city is using a $22 million Hope VI grant to demolish and redevelop the 16-acre site. When work is complete, the area will host a mixed-income neighborhood. This is the third redevelopment of a barracks-style public housing complex in Louisville.

The other redeveloped neighborhoods are Park Duvalle, which replaced Cotter-Lang development, and Liberty Green, which replaced the Clarksdale development. 

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.