The long-delayed CentrePointe development in downtown Lexington ran into another hurdle Wednesday.
Just two days ago, the Urban County Council appeared poised to throw its support behind developer Dudley Webb’s request for the state bonds, which Webb hoped to deliver to the state by the end of the month.
Those plans are now in a holding pattern, however, following comments by Kentucky Cabinet for Economic Development secretary Larry Hayes indicating that the state is not prepared to take on the obligation. In a letter to Mayor Jim Gray, Hayes said the city would be the more appropriate entity to issue the funds.
A statement from the mayor’s office said the city will move forward cautiously while also encouraging a successful development so the tenants who have already signed on can move in.
Webb says the snag won’t kill the project, but he would like to see the council ask the state to reconsider. The $30M would go toward the construction of CentrePointe’s three-story, 700-space underground parking garage.