According to a press release, Metro Gubmint and Todd Blue have reached an agreement on the future of the historic Iron Quarter on Main Street.
Blue drops his suit, city helps preserve the facades.
More from the release:
According the agreement reached this morning, Blue has permission to demolish the buildings in 90 days because they pose a public safety hazard. During this 90-day period, Blue and the City will explore the best method of either preserving the existing facades or recreating facades with similar architectural appearance in any future development, to preserve the architectural fabric of Main Street.
Meanwhile, Mayor Greg Fischer will ask the Metro Council top appropriate a minimum of $450,000 in the upcoming budget to help cover the cost of recreating the facades, if Blue and the City agree that is the best route. If Blue and the City agree to preserve some or all of the existing facades, the City still may attempt to obtain additional funding from Metro Council.
“I believe this is the best outcome for both parties,” Fischer said. “This keeps taxpayers from further litigation but saves the facades for future generations.”
Fischer said the compromise is similar to what occurred with the historic Coleman building at 3rd and Jefferson Streets, where the façade was saved and incorporated into the downtown Marriott.
“It was incredibly refreshing working with Mayor Fischer and his new administration to start the process of resolving this very important opportunity for our community, which until now was road blocked,” Blue said. “Mayor Fischer’s pro-business attitude is already apparent and he’s less than 30 days into his administration.”
Blue added: “Our company has a history of preservation and a love for the heritage of this community; our projects have always exemplified this. It’s great to have someone in a position of leadership who has a desire to work with the business community instead of against it. The facts of this case were always based on our concern for the safety of the community and nothing else. With this settlement, we have agreed to work with the City in order to streamline the issues. Our goal is to create a pathway for all of us to commence what has the potential to be one of the finest public/private partnerships. This is a spectacular and critically important location. As some have said, this will be Louisville’s Times Square!”
You won’t hear me complaining. If we can squander fifty trillion dollars on a study to see if a study is feasible to study another study, then, uh, why not? Let’s at least preserve this city’s character while the rest of the world drips down the drain.