Tax increment finance (TIF) funding is a method of redistributing property tax to finance infrastructure improvements within a designated area.
Requests for Proposal
Nucleus is working closely with downtown medical institutions and private developers to optimize the research park’s development, design and facilities. Currently, Nucleus is opening the selection process to involve Kentucky-based business in construction. For more information about the RFP process, contact Vickie Yates Brown at 502-569-1592 or kwadwell@nucleusky.com.
TIF Commitment
Nucleus TIF Commitment
In November 2007, tax-increment financing, with the potential to generate $300 million or more, was approved by the state to build out the bio research park.
The tax increment financing is dedicated to infrastructure improvements on and around Nucleus development for life sciences. Criteria of the TIF implementation require Nucleus, UofL and their partner, Jewish Hospital and St. Mary’s Healthcare, to expend $200 million in private investment by December 31, 2011.
More than $20 million is already invested in the following projects as part of the master plan:
- University Parking Garage
- Ambulatory Care Building addition
- Jewish Hospital projects
- Renovations to house the School of Public Health and Information Sciences
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