Could minor league baseball come to Bowling Green? A bill passed by both the state House and Senate makes major economic projects in Bowling Green one step closer to reality.
House Bill 549 would allow tax increment financing or TIF for projects that would boost economic development in the area.
“It was a bill that could have just targeted Louisville or Northern Kentucky, and I think it’s apparent how the state legislature with the leadership of the speaker and of course Brett Guthrie from this area, the work they did, made our state legislators see that Bowling Green is an economic driver in that state,” said Mary Cohron with Bowling Green Chamber of Commerce.
Both the House and Senate have passed a bill that would allow tax increment financing or TIF.
Bowling Green’s Mayor Elaine Walker explains TIF would allow a project development to be established as the land is developed a percentage of the increased tax revenue is used to pay off the bonds.
Cohron said this bill would greatly benefit Bowling Green. “Where things are in poor repair where there are needs infrastructure work done, that will encourage a developer to come in and have the infrastructure in place to develop downtown.”
Mayor Walker told WBKO this type of funding was usually reserved for large cities like Louisville. However, she said they asked the General Assembly to allow this kind of funding for class two cities like Bowling Green.
Mayor Walker said this type of funding could be used for projects like The Boulevards project and a possible baseball park. Cohron said the Chamber is interested in any project that would improve the quality of life in the area.
“We’ve had a lot of dreams and ideas about things we would like to do in Bowling Green and Warren County and this bill just makes it closer to being reality,” Cohron said.
The bill was passed by both the House and Senate and is now waiting to be signed by the governor. Mayor Walker said the City Commission could start talking about possible projects this bill would cover in its first meeting in April 2007.