The Kentucky Tourism Development Finance Authority gave preliminary approval to two tourism projects in Louisville last week.
The authority gave preliminary approval to Paristown Pointe Preservation Trust for a $28.6 million cultural arts and entertainment district near downtown Louisville that will include restoration of a historic neighborhood with dining, entertainment and retail options. The project could receive up to $7.2 million in tax rebates.
The three anchors for the project are Louisville Stoneware, a performance venue operated by the Kentucky Center for the Arts and Goodwood Brewery.
The authority also gave preliminary approval to Rabbit Hole Distilling LLC, which is proposing a $12.7 million entertainment facility that will include a distillery, tasting room, gift shop and event space at a warehouse at 711 E. Jefferson Street. The project could receive up to $3.2 million in tax rebates.
Both projects will now undergo a review process to determine if they meet the legal requirements to receive incentives. This includes meeting a minimum expenditure requirement, being open more than 100 days a year, attracting at least 25 percent of visitors from outside the state by its fourth year of operation and having a positive net economic impact on the Kentucky economy.
The authority considers applications under the Kentucky Tourism Development Act, which allows eligible tourism attractions a rebate of sales tax up to 25 percent of project capital costs.
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