Churchill Downs announces a pledge of $1 million to the West End Opportunity Partnership
CDI also announced a pledge of $1 million to the West End Opportunity Partnership (the “Partnership”), a collaborative community-led initiative that will finance projects to kick start economic development and quality of life improvements in a district comprised of nine West End neighborhoods: Shawnee, Portland, Russell, Chickasaw, Parkland, California, Park Hill, Park Duvalle and Algonquin. The new tax increment financing (“TIF”) district was established by legislation championed and passed by State Senators Robert Stivers, Julie Raque Adams, Morgan McGarvey and Gerald Neal, and State Representatives Ken Fleming and Pamela Stevenson. The TIF guarantees that for the next 20 years, 80% of new tax revenue generated in those neighborhoods will be returned to the Partnership to reinvest in economic development projects and homeowner stabilization in the West End. The seed money and proceeds will be managed by a Partnership board comprised of neighborhood residents and appointees from community organizations.
