LOUISVILLE, Ky. — Louisville-area initiatives are getting over a billion dollars in funding from the state.

Legislators and other community leaders spoke about what the funding will go to and how they say it will benefit more than just Louisville.

What You Need To Know

  • About $1,186,000,000 are coming to Louisville initiatives from the state’s legislative session

  • $100 million will go towards revitalizing downtown Louisville

  • $413 million is going to the University of Louisville

  • The surplus for the current budget year plus what is left in the budget reserve trust fund is expected to be around $3.7 billion

Almost $1.2 billion is coming to Louisville initiatives from the state’s legislative session.

“This historic investment is made possible by sound financial decision starting in 2017 and continues our commitment to the community,” said Rep. Ken Fleming, R-Louisville.

Efforts to revitalize downtown Louisville will receive $100 million. Mayor Craig Greenberg, D-Louisville, said updating the Belvedere is one project that money will go toward. 

“Transforming concrete and grass of the Belvedere here overlooking the Ohio River, right in the heart of our central business district, reimagine the Belvedere into a new destiny, a new symbol for the future of our city,” said Greenberg.

The University of Louisville is getting around $413 million. This is the largest investment in the school’s 226-year history. 

“I cannot tell you how very much it is needed to support our health sciences faculty, staff and students as they address a growing shortage of nurses and health professionals in our communities,” said Kim Schatzel, president of the University of Louisville.

Senate President. Sen. Robert Stivers, R-Manchester said investing in the city and its attractions like the fairgrounds—which is receiving $100 million—will benefit all 120 counties in the Commonwealth.

“This county, and many people are probably sick and tired of hearing me say this, has a mission well beyond the geographic confines of Jefferson County, in education in health care, transportation, in tourism in all types of the arts and humanities,” said Stivers.

A House Republican spokesperson said the state’s budget reserve makes investments like this possible.

She added the state has one of the largest budget reserves in the nation. The surplus for the current budget year plus what is left in the budget reserve trust fund is expected to be around $3.7 billion.

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