On-campus arena in the works?
While reading through the 338 pages of the recent state budget approved by the General Assembly, Inside theVille.com's investigative team came across an interesting item on page 286.
51. UNIVERSITY OF LOUISVILLE
b. Property Transfer: Notwithstanding KRS 45.760, the University of Louisville is authorized to exchange real property on the east side of Hurstbourne Lane on its Shelby Campus for real property at the northeast corner of Third Street and Central Avenue adjacent to the Belknap Campus , only if: (1) The Shelby Campus parcel is utilized in a manner consistent with the Shelby Campus Technology Park plan approved by its Board of Trustees in September 2001; (2) The Secretary of the Finance and Administration Cabinet determines that the use of the Shelby Campus parcel is consistent with the approved Shelby Campus Technology Park plan; (3) Any capital project built on the exchanged parcel near Belknap Campus must receive authorization by the General Assembly prior to the property exchange; (4) The Secretary of the Finance and Administration Cabinet approves the exchange transaction; and (5) The proposal is submitted to the Capital Projects and Bond Oversight Committee for its consideration prior to the exchange .
In other words, it looks as though the University of Louisville wants to put the new arena right next to Papa Johns Stadium on the site where the old American Air Filter office building now sits and this item in the budget authorizes the University to obtain the land to do so. The item further states that the General assembly must approve any capital project built on the land acquired at the northeast corner of third street adjacent to the Belknap Campus.
It's interesting that the law specifically states UofL must submit its
proposal to the Capital Projects and Bond Oversight Committee before the land is
exchanged and receive approval from the General Assembly. That point hints
strongly that private funding will be involved in whatever construction the
University of Louisville plans to erect on the AAF site.
Your guess is as good as mine but I'd say the University of Louisville has plans in the works at this moment to initiate the construction process of a capital project due west of Papa John's Cardinal stadium.
Is this property where a new, state-of -the art basketball arena for Coach Pitino's nationally recognized basketball program will be built?