Flash Flood Watch expires at 6:00 PM on 8/31, issued at 8:24 PM Annville, KY | Artemus, KY | Athol, KY | Barbourville, KY

Urban County Council Takes Step To Sell Coldstream Lease

Reported by: Tom Kenny
Set Text Size SmallSet Text Size MediumSet Text Size LargeSet Text Size X-Large
Share
Updated: 10/08/2013 9:54 pm
On Tuesday, the Urban County Council took the initial step toward selling a long-term lease the city holds on 16-acres at Coldstream Research Campus, according to Mayor Jim Gray.

The city and Commerce Lexington are working with an economic development client interested in the property, according to a release from the city.

Under the terms of the proposed agreement with the client, the sale wouldn't be final until the property is rezoned and the business is approved for state and local tax incentives.

The Urban County Council is expected to vote at its Thursday night meeting on a resolution to initiate the zone change, according to the city's news release.

The city signed a 100-year lease on the Coldstream property for $815,850 in 2007, planning to locate an Emergency Operations Center there.  Due to high costs, the center was never built.

The old Juvenile Justice Center on Cisco Road is going to be renovated as the new Emergency Operations Center at an estimated cost of $13 million. 

The city has already secured $3 million in federal grants for the project.
Share
Most Popular
Harlan ER doctor suspended by Kentucky board
A Knoxville, Tennessee, doctor practicing at Harlan Appalachian Regional Healthcare Hospital has had his license suspended by the Kentucky Board of Medical Licensure.
Police: Man Breaks Into Home To Take Shower
A man is accused of breaking into a Lexington home just to take a hot shower.
Fiery Crash Closes Stretch Of I-75 In Laurel County
A section of I-75 north of Corbin was closed for a time Friday evening following a fiery crash involving a Fed-Ex tractor trailer, according to State Police. Investigators said the driver had minor injuries.
Police: Man Robbed Lexington Walmart Pharmacy For Drugs
Lexington Police said that a man wanted drugs when he held up a Walmart Pharmacy.
SUV Flips On I-75 Entrance Ramp In Lexington
Investigators said a driver was taken to the hospital Friday night after he flipped his SUV in Lexington.
Inergize Digital This site is hosted and managed by Inergize Digital.
   

WTVQ.com supports children's privacy rights. All persons under the age of 13 MUST have parental permission to use this website and direct parental supervision is strongly recommended.