Kentucky’s state parks provide a great opportunity for major investments in resort hotels and amenities through public-private partnerships, according to a panel of experts who spoke last week at Greater Louisville Inc.’s Issues and Influencers series.
Gov. Matt Bevin said Tuesday that he expects public-private partnerships to be a solution for major public infrastructure projects, including the I-69 Ohio River Crossing project in Western Kentucky, as many as five state resort parks across the Commonwealth and perhaps a major airport expansion.
In partnership with Greater Louisville Inc. and Government Strategies, P3 Kentucky convened a panel of experts this week to share their experiences with public-private projects and to discuss the opportunities that exist to improve public infrastructure across Kentucky.
Many communities across the country – from the Commonwealth to California – are dealing with the same problem. The economy has improved since the dark days of the Great Recession, but the deferred costs to maintain, improve and replace critical infrastructure have mounted, far outweighing their means to pay for projects without new tax dollars.
Six Kentucky-based banks have launched a first-of-its kind investment fund to support public-private partnership projects throughout Kentucky. The institutions launching the $150 million Commonwealth Infrastructure Fund are among the largest community banks in the state.
Louisville City FC’s planned soccer stadium project is just the latest example of how public-private partnerships can inject significant capital into Kentucky’s tourism and entertainment industries and create a significant number of jobs and tax dollars for citizens of the Commonwealth.
Drivers describe traffic conditions on the Brent Spence Bridge that spans the Ohio River between Covington, Ky., and Cincinnati, Ohio as a “bottleneck,” a “choke point,” a “source of gridlock” and a variety of other less printable names.
Public-private partnerships provide an option to build and rebuild infrastructure from devastation like recent Hurricanes Harvey and Irma.
Leaders in Louisville are moving forward with an ambitious public-private partnership to develop a $200 million professional soccer stadium and mixed-use business district near the city’s downtown.
Have a great idea for government? Check out this five dos and don’ts for submitting an unsolicited proposal.