Front exterior elevation drawing of the proposed Frontgate Apartments.
LOUISVILLE, KY (WAVE) - The developer of a controversial apartment complex is dropping the fight to keep its city approved minority-owned status, a certification the developer used to finance the project. All this comes after serious questions were raised about the developer of Frontgate Apartments in Highview and whether it really was a minority owned business.
In April, Overlook Development reapplied to Louisville Metro Government to be certified as a minority-owned business. Even though they dropped that fight, it won't help neighbors in Highview.
A letter from the Louisville Metro Human Relations Commission shows Overlook Development has withdrawn its application for re-certification as a female owned business.
Overlook got more than $14 million in low interest government financing for the Frontgate project. It received that special financing from the Kentucky Housing Corporation using its female owned businesses status. The problem is Overlook doesn't appear to be a female owned business.
The address listed on its paperwork is a company called LDG Development which is not a female owned business. It's owned by the husband of Lisa Dischinger, the person listed as Overlook's owner. However, her father-in-law said Lisa Dischinger doesn't work there.
So what does all this mean for the people of Highview? A spokesman for the Kentucky Housing Corporation said no past financing will be impacted. It will disqualify Overlook from special minority-owned business financing in the future, but not the financing they already have for Frontgate Apartments.
Tuesday, April 20 2010 11:21 PM EDT2010-04-21 03:21:00 GMT
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