Louisville Arena Authority wants TIF passed

Louisville Arena Authority wants TIF passed
The KFC Yum! Center

FRANKFORT, KY (WAVE) - The group overseeing the KFC Yum Center wants Frankfort to act before the session ends this month so it can lower its debt payments.

A bill to expand the special tax district around the arena passed the House but is now in a Senate Committee.

The Louisville Arena Authority is hopeful it can get a vote on the floor in the next couple of days to send a change to the governor's desk that would extend the tax increment financing district for another 30 years. This extension would allow a better bond rating and a lower interest payment.

"If this gets kicked down to next year, it will just be more expensive for everybody."  Scott Cox, Arena Authority's Attorney, said.

According to Cox, the board is happy with how AEG is running the arena bringing in events.

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