Owensboro looking to borrow more than $15-million for downtown p - Tri-State News, Weather & Sports

Owensboro looking to borrow more than $15-million for downtown parking garages

OWENSBORO, KY (WFIE) -

More parking could be coming to downtown Owensboro.

The city commission introduced an ordinance Tuesday that would allow the city to borrow more than $15-million for a parking garage.

Downtown Owensboro is continuing to grow and it's projects like the International Bluegrass Music Center, a third hotel, and the recent Alorica jobs announcement that has city leaders focusing on more downtown parking. City leaders want to borrow around 15 million dollars to buy the GRITS parking garage at the intersection of West Second and Saint Elizabeth Street and build another garage with around 400 parking spots in the same area. 

We're told negotiations are going on for the GRITS garage between the city, Audubon Area Community Services, and the Federal Transportation Administration. City leaders say the parking projects won't be paid for by tax payers. The expect funding from the downtown TIF to pay off the loan in full.

“We're excited about the fact that we'll be able to pay for this parking garage with proceeds from the TIF. Here you have the need for the parking garage driven by all the development downtown which in turn will pay for the parking garage,” said Mayor Ron Payne.

City leaders say they won't decide to borrow money for the parking projects until the downtown TIF gets final approval. We're told that could happen on December 8.

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