Developer applies for $30 million in bonds for CentrePointe

LEXINGTON, Ky. (WKYT) - We've learned the developers of the CentrePointe project in downtown Lexington have applied for $30 million in state bonds.

Developer Dudley Webb says the money would be used to help pay for the underground parking garage, which is now under construction. Webb says the money would be paid back.

"The city has no risk, the state has no risk. It's done every day in the real estate world, and all we are asking is for everyone to do what we already agreed to do," says Webb.

The city must pass a resolution supporting the application before it's filed with the state board that oversees economic incentive programs in Kentucky.

Webb says the CentrePointe parking garage should be finished in six months and the first offices should be finished next summer.

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