Wednesday, February 22, 2017

City Takes Next Step in Purchase of Strand Theater

In a short agenda last night (Tuesday 2-21-17) the Louisville Board of Aldermen authorized the Mayor to proceed with necessary action for the city to purchase the Strand Theater property. The purchase and renovation of the building located  in the 100 block of S. Church is one of several public works projects undertaken in the aftermath of the April 2014 tornado with the majority of the funding coming from monies earmarked from FEMA and MEMA.

Pending appraisal, the city seeks to purchase the property for an amount of $75,000. This would be the last property acquisition associated with these work projects that includes property adjoining Ivy Park and the Winston Plywood facility. Once the theater purchase is completed, the City can begin to seek reimbursement of these acquisition funds from FEMA/MEMA totaling approximately $1,158,000. The renovation of the Strand is a long term project and work is not expected to begin in the near future.