LOUISVILLE, Ky. — Spencer Fronk and his company invested in an old building on Whiskey Row in downtown Louisville, hoping to build an interesting bar and restaurant.
The building he picked has sat there since the 1880s, and it comes with a lot of wear and tear.
“Nightclubs to historic distillers to grocery stores to punk rock venues, this building has seen a lot over its 140 years on this block,” Fronk said. “And with that comes challenge, but more importantly, becomes opportunity for us to take this building and bring it not only up to code, but to exceed the code that is required of us.”
Fronk received a $4.2 million loan through the city’s Energy Project Assessment District program to build Number Fifteen. The city also reached an agreement with Tempo Hotel by Hilton for a $4.9 million loan.
The EPAD program helps private banks loan money to businesses, who then pay it back over a decade or two through their property taxes, all in an effort to help them cover the initial construction costs and promote more energy-efficient decisions when it comes to electrical, heating, and plumbing systems, among others.
It’s an initiative aimed at helping business make more environmentally-friendly investments, and Mayor Greg Fischer said it’s critical to helping us deal with climate change.
“It’s great when we can combine that, obviously, with business,” Fischer said. “It’s not an either-or, like good for business, good for the climate; it’s both.”
There’s more help out there for people who want to make greener business decisions and not just in downtown Louisville, either.