[CPEO-IRF] Former Louisville (KY) Naval Ordnance Station

[Lenny Siegel <lsiegel@cpeo.org>]

Titan management comes under scrutiny
Payments, development report overdue from park manager

By Brent Adams 
Business First of Louisville (KY) / MSNBC
May 1, 2005

In March 2004, the Louisville-Jefferson County Redevelopment Authority
signed a 99-year lease to turn Technology Park of Greater Louisville
over to Titan Research & Development Louisville LLC, giving the upstart
company 97 percent of the annual rental revenue in exchange for
redevelopment of the property into a mixed-use industrial park. 

The decision to turn the park over to a private developer, Louisville
Metro Mayor Jerry Abramson says, was an attempt to infuse capital into
the former Naval Ordnance Station and take government out of an
industrial park management role. 

In an interview this week, Abramson expressed optimism that Titan will
live up to the proposal and subsequent lease agreement it submitted to
redevelopment authority. 

But a year, and about $3 million in rental income in Titan's coffers
later, the redevelopment authority and Louisville-Jefferson County Metro
Government claim they are owed a substantial amount of money by Titan.
The company is using two city employees -- partly paid by Titan -- to
handle accounting functions for the park, according to Bruce Traughber,
secretary of community development for metro government. Traughber's
cabinet oversees the redevelopment authority. 

...

For the entire article, see
http://msnbc.msn.com/id/7704116/

-- 


Lenny Siegel
Director, Center for Public Environmental Oversight
c/o PSC, 278-A Hope St., Mountain View, CA 94041
Voice: 650/961-8918 or 650/969-1545
Fax: 650/961-8918
<lsiegel@cpeo.org>
http://www.cpeo.org
_______________________________________________
Installation_Reuse_Forum mailing list
Installation_Reuse_Forum@list.cpeo.org
http://www.cpeo.org/mailman/listinfo/installation_reuse_forum