The City of Frankfort has issued notice of a virtual public hearing on the development plan for Parcels B and C at 5 p.m. Monday, Aug. 10.
The nearly 12-acre property is the site of the demolished Frankfort Convention Center and adjacent Fountain Place Shoppes. The property also includes the land under the YMCA and Capital Plaza Hotel along with an existing state parking garage.
New Frankfort Development LLC, owned by Hazard developer and businessman Luther “Marty” Johnson, was awarded Parcels B and C in November after bidding $1,000 on the property with the promise of investing millions. He was the sole bidder.
The virtual public hearing on the development plan will be hosted using the GoToMeeting software app.
Public participants must register before 2 p.m. on Monday, Aug. 10, by contacting Blair Hecker at 502-352-2180 or firstname.lastname@example.org During registration, participants will be asked to provide a phone number so that city staff can contact them as they wait outside City Hall for their turn to comment.
Public participants must appear at City Hall, 315 W. Second St., where they will have their temperature checked prior to entering the building one at a time. Participants are asked to wear masks and practice social distancing.
Each participant will be at a podium, on camera and microphone, and state their comments with a five-minute maximum. The GoToMeeting participants will appear on a monitor in the commission chamber so that questions and follow-ups may be made by city and county representatives.
Emailed comments may be submitted to Hecker no later than 2 p.m. on Thursday, Aug. 6. These comments will be gathered and read at the public hearing.
According to the city, the development plan provides for the establishment of the Development Area — an approximate 18.1-acre area located in downtown Frankfort in the general vicinity of Mero Street, Wilkinson Boulevard, Broadway Street, St. Clair Street, Washington Street and Clinton Street — and the potential pledge (but does not provide for a specific pledge) to financially assist the mixed-use redevelopment of the area through Tax Increment Financing to fund public infrastructure such as a state-mandated parking garage and sidewalks.
The TIF involves using increased tax revenues from a variety of sources — possibly including city and county occupational and real property taxes, other special taxing districts, and a request for the pledge of eligible state incremental revenues — generated from within the development area as a result of Parcels B and C redevelopment. No pledge will be sought from the Frankfort Independent School District.
A copy of the development plan is available for public inspection at the offices of the city clerk at City Hall or the offices of the Franklin County Fiscal Court clerk, 321 W. Main St., or by visiting www.frankfort.ky.gov/Parcels-B-and-C