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MegadealsSubsidy Tracker Individual Entry
Company: JDG Triangle Partners, LLC
Parent Company:
Subsidy Source: local
Location: Kentucky
City: Louisville
County: Jefferson
Address: Lexington Road and Grinstead Drive
Project Description: Mixed-use development
Year: 2023
Subsidy Value: $114,209,532
Program Name: Tax increment finance
Awarding Agency: Louisville Metro Government
Type of Subsidy:
MEGADEAL
Capital Investment: $554,000,000
Source of Data: Subsidy details were taken from: Lucas Aulbach, "One Park approved for TIF financing. Metro Council OKs plan amid housing tweaks," The Courier-Journal, December 18, 2023. The Louisville Metro Government's minutes of meeting from December 14, 2023 include various documents related to the project, including TIF Development Plan and TIF Local Participation Agreement, see item O-276-23:
(click here)
Notes: JDG Triangle Partners, LLC, a developer of One Park Plaza, a mixed-use project in Louisville, was approved for maximum of $114.2 million through a 30-year TIF. The TIF will divert back to the developer 80% of newly generated real property taxes and occupational withholding taxes. This is a performance-based subsidy and will be activated after the developer spends $200 million. The project includes 700 apartments, a hotel, a grocery store, and commercial space. The affordable rental housing set-asides are 5% and 10%, depending on the structure. The developer requested $148 million in subsidies from the state; the megadeal will be updated if the state portion is approved. Overlaps with main data: none.
Source Notes: If an online information source is not working, check the Tracker
inventory page for an updated link.