About the West End Opportunity Partnership

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Legislation forming the West End Opportunity Partnership was championed and passed by State Senators Gerald Neal, Julie Raque Adams, Morgan McGarvey, Robert Stivers and State Representatives Pamela Stevenson & Ken Fleming. It came out of extensive community conversations beginning in the spring of 2019 and is a big step toward financial empowerment and creating multi-generational wealth building.

The goal is to elevate the expertise and aspiration of the West End to promote revitalization.

 

INITIAL FUNDING

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Louisville Metro has pledged $10 million. If $10 million is raised from private sources, a state match of $10 million will be appropriated.

 
 

FUTURE FUNDING

Recurring funding mechanism to help encourage investment and development

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For the next 20 years, 80% of new tax revenue collected in the development area will stay in the West End. The Partnership board, comprised of neighborhood residents and appointees from community organizations, will manage the proceeds and make strategic economic development investments in the West End.

The Partnership aims to:

• Kickstart economic development and quality of life improvements by financing projects up front

• Build more businesses and support existing businesses

Examples of potential projects:

√ Loans to new and existing businesses 

√ Environmental cleanup

√ Financing for more affordable rental units and owner occupied housing

√ Home improvements for existing homeowners

√ Other areas as determined by the board through community input

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The Partnership is an instrument for collaboration and attracting additional investment in the West End by seeking to amplify Black voices with significant capabilities. It is a partnership with Metro Government, and a potential partner with other like efforts in the footprint.

Louisville Urban League: https://lul.org/

Louisville Branch of the Federal Reserve Bank of St. Louis: https://www.stlouisfed.org/louisville

OneWest: https://onewest.org/

U of L: https://louisville.edu/

Metro Council: https://louisvilleky.gov/government/metro-council

Simmons College: https://www.simmonscollegeky.edu/

NAACP Louisville: https://lounaacp.org/

Governor’s Office: https://governor.ky.gov/

Mayor’s Office: https://louisvilleky.gov/government

Volunteers of America: https://www.voamid.org/kentucky

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HOME OWNERSHIP STABILIZATION

• A primary goal of the partnership is to prevent displacement of current residents due to increasing neighborhood home values.

• Homeowners and their heirs are provided refundable tax credits for any increase in their annual property tax bill over its assessment as of January 1, 2021.

• A top investment priority is providing funds for home improvements for existing residential property owners.

GOOD GOVERNANCE PROVISIONS

• Biennial report to the General Assembly

• Required finance, equity and community engagement training 

• Required conflict of interest disclosure

• Local participation agreement between Louisville Metro
and the Partnership