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TIF approval time line set up

A time line for the developer of the Distillery District to seek approval for tax increment financing from the city government and the state was announced Wednesday.

Developer Barry McNees said the TIF development plan for the proposed arts and entertainment district on Manchester Street will be finished and given to Urban County Council members by the end of next week.

The city's tax increment financing task force — made up of seven council members and Mayor Jim Newberry — will review the plan at 1:30 p.m. Oct. 1 in the third floor conference room of the Phoenix Building.

A public hearing is scheduled for 6 p.m. Oct. 21 in council chambers.

The proposed $190 million development includes a boutique distillery and museum, art galleries, condos, restaurants, artist studios, retail and a farmers market.

McNees is seeking $81 million in tax increment financing money for public infrastructure, including burying utility lines, improving streets, parking, installing sidewalks, building a Town Branch welcome center and making improvements to banks of the Town Branch creek as it winds through the proposed district

It is projected for completion in 2012.

McNees anticipates the council will adopt the required TIF ordinance for the Distillery District by the end of November. The ordinance is a requirement of state law for both local and state TIF applications.

"Our goal, it is get our TIF application to the Kentucky Economic Development Finance Authority in time for them to review it and, hopefully, give preliminary approval by the end of the year," McNees said.

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