Committee Move Could Lead to Lower Yum! Center Debt Payments

LOUISVILLE, Ky. (AP) – Louisville’s Metro Council is giving Mayor Greg Fischer more room to renegotiate the KFC Yum! Center’s debt, which could lead to lower future payments.

The council’s budget committee passed a resolution Friday that gives the mayor authority to strike a deal to set the city’s debt payments below the $10.8 million maximum.

The Courier-Journal reports (cjky.it/2hgUUQw) the Yum! Center’s debt payments are expected to rise in the coming years, and the arena board has warned council members it won’t be able to cover those costs by 2020.

Some council members have recently been critical of the arena’s lease agreement, saying it favors the University of Louisville. That prompted UofL athletics director Tom Jurich to lash out in a radio interview, saying the university should abandon the Yum Center because of the comments.

___

Information from: The Courier-Journal, http://www.courier-journal.com

Copyright 2016 The Associated Press.