June 29, 2020 3:23pm
What’s in the Louisville 2020-2021 budget?
Last week, Louisville Metro Council passed the FY2021 Operating Budget by a vote of 24 to 1. The new budget goes into effect on July 1, 2020, and includes several measures of interest to the business community.
Read a press release about the budget here and the full document here.
- $21.2 million, supported by the federal CARES Act, for small business assistance needed as a result of coronavirus-related financial issues. Read more here.
- $21.2 million, supported by the federal CARES Act, for rent assistance needed to prevent evictions as a result of coronavirus-related financial issues. Read more here.
- $5 million in additional funding for the Louisville Affordable Housing Trust Fund (LAHTF) and its partners to address vacant and abandoned properties through the creation of direct purchase or lease-to-purchase opportunities.
- $2.5 million for programs that support home repair, address vacant and abandoned properties, and increase home ownership.
- $1 million is allocated for a new Homeowner and Rental Repair Loan Fund to support improvement of residences
- $413,400 will put a Metro Public Works crew into neighborhoods, and particularly alleys, to clean areas which have a high level of illegal dumping.
- $170,000 to hire two additional Code Enforcement Officers working with Develop Louisville to revitalize disadvantaged neighborhoods.
- $14.3 million for infrastructure improvements such paving and includes $700,000 for a study of all Louisville Metro road conditions. The sidewalk repair budget is increased by $500,000 and additional funds are appropriated for facilities, parks and library maintenance and repairs.