CDFA to Present Awards at Nov. 20 Summit

BRADENTON, Fla. — The Warren County Downtown Economic Development Authority in Kentucky will be among nine award winners at the Council of Development Finance Agencies' annual summit.

Warren County successfully financed the WKU Gateway to Downtown Bowling Green, which will be showcased as the CDFA's Tax Increment Finance Award winner at the Nov. 20 summit in Scottsdale, Ariz.

The EDA's TIF district is known as City Center, a moniker chosen to promote downtown Bowling Green, according to the authority's website.

The EDA successfully financed a 383-acre, 52-block district that is now home to a 4,500-seat minor league baseball stadium, a 106,000-square-foot mixed-use building, and a growing Internet-based firm. The district also includes other businesses, various merchants, and the Southern Kentucky Performing Arts Center.

In 2008, Bowling Green received approval from the state to create a 27-year tax increment financing district to spur development in the downtown area.

The nonprofit Economic Development Authority was created by Warren County to head up redevelopment and financing activities, and to secure a minimum of $150 million in new investments by December 2015.

The district reached the investment goal two years earlier than required by Kentucky statute, and became eligible to receive 80% of the growth in sales, state withholding, city occupational tax, and other revenues sources in 2013, the district's website said.

The CDFA will present other awards at the summit to Chris Meister with the Illinois Finance Authority, Mathy Stanislaus from the U.S. Environmental Protection Agency, the Michigan Economic Development Corp., the Portland Development Commission, the Port of Greater Cincinnati Development Authority, the Urban Redevelopment Authority of Pittsburgh, the Hawaii Department of Business, Economic Development & Tourism, and the Minnesota Department of Employment and Economic Development.

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Kentucky
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