The state's decision on whether to accept a Hazard developer's bid for former Capital Plaza property in downtown Frankfort was postponed again Friday.
According to the state Finance and Administration Cabinet website, a decision on New Frankfort Development LLC's bid will be made on or about Nov. 18.
In a statement to The State Journal via email in October, Pamela Trautner, public information officer for the state Finance and Administration Cabinet, said that it isn’t uncommon for such decisions to be postponed.
The Parcels B and C bid decision was originally scheduled to be announced Oct. 19 but was postponed to Nov. 8 due to what the state said were scheduling conflicts.
The second reschedule date was posted on the cabinet website early Friday afternoon but did not give a reason. The State Journal contacted Trautner by phone call and email for more information about the delay, but she did not respond to requests for comment by press time.
Hazard-based developer Marty Johnson, the only bidder for the project, offered $1,000 for the 12-acre property that includes the site of the demolished Frankfort Convention Center and adjacent Fountain Place Shoppes. The property also includes the land under the YMCA and the Capital Plaza Hotel along with an existing state parking garage.
Johnson told The State Journal on Monday he and his company New Frankfort Development LLC plan to invest millions in the property and hope to bring new housing, restaurants, a grocery store, parking garage and more to the space.
To bid on the property, developers had to stick to a list of requirements, which included the Downtown Master Plan’s vision for mixed-use residential and commercial development and a state-mandated 300-space parking garage to meet contractual obligations to the Capital Plaza Hotel.
If Johnson's bid is accepted, he will be asked to develop the space for retail, residential, cultural, institutional and entertainment uses while improving walkability.