City of Lexington deadline for CentrePointe is Wednesday
LEXINGTON, Ky. (WTVQ) – A number of extensions on an order to fill-in the CentrePointe construction site in downtown Lexington expire on Wednesday, March 30, 2016. The city hasn’t said what will happen on deadline day. The city issued the order in April of last year to the developer, the Webb Companies, after city officials claimed no work had been done on the site in two months.
The Webb Cos. denied the claim, saying work had been done within the 60-day period. Under the agreement between the developer and the city, the city could fill-in the construction site if the Webb Cos. failed to do it. The hole was dug on the site, that is bordered by Main, Vine, Upper and Limestone streets, for a three-story underground parking garage.
The CentrePointe development is supposed to feature a hotel, extended-stay hotel, apartment building, office tower, restaurant and retail space. The private project has been delayed for years after the unexpected death of the lead investor and the recession.
It is still unclear how the Webb Cos. plans to pay for the construction of the underground parking garage. The Webb Cos. claims the city originally agreed to issue bonds to pay for the parking garage, but later refused, further delaying the project. The city claims it did not agree to issue bonds for the project.
There has been talk that the bonds could possibly be issued through a non-profit arm of the Kentucky League of Cities. Jonathan Steiner, executive director and CEO of the Kentucky League of Cities, told the Lexington Herald-Leader on Tuesday that the non-profit had spoken with the Webbs recently.
“We have spoken with the Webb Cos. and stand ready to work with them,” Steiner told the Herald-Leader. “We have told them we are happy to move forward on the bonds on their timeline as needed.”
Dudley Webb, of the Webb Cos., told the newspaper that he hadn’t heard anything from the city regarding the site fill-in order from last April. “We haven’t and don’t expect to,” Webb told the Herald-Leader. “It appears that we are now in unison and moving forward to bring this project to fruition. That is good.”