STAFF REPORT
Glasgow News 1
Ways to reduce the city’s risk and add incentives for possible developers were the primary topics of conversation at the recent Johnson Property committee meeting.
Qk4 Vice President and Civil/Site Group Leader Robert Campbell, who is helping facilitate the group’s work, said the city learned a lot from its first round of requests for proposals, which did not yield any developer’s proposals but did generate interest.
“We got a better feel for the economy for selling this property and the other competition that’s out there…and so it’s helping us shape what we’re doing here for the city,” Campbell said. “We started off with virtually no incentives to see if the market just drove a nice sale and…so we did that basic transaction [to see if] anybody [was] interested and what we got back was several developers that were interested…in the end they were like we’re used to seeing some more incentive.”
One idea that was discussed is letting a developer delay paying for the land until after building and selling portions of the project because the city already owns the Johnson property and is not paying interest on it. That structure could free developers from a large upfront land cost while still requiring them to cover major construction and engineering expenses, Campbell told Glasgow News 1 after the meeting.
The committee is also working on contract language to make sure any mixed-use development fits the community’s expectations. The comments, ideas and concerns expressed during the meeting was recorded by Campbell, who will forward them to city attorney Rich Alexander.
Timing for the next RFP appears to depend partly on outside factors, including the outcome of the current legislative session and the status of Kentucky Transportation Cabinet roadway improvements that could affect the site.
“We have not selected a date as of yet,” Campbell said. “We’re thinking May for the reissuance.”
Committee members also briefly discussed signage that would advertise the property with a QR code of specifics, including the non-negotiable covenants and restrictions, according to Glasgow Mayor Henry Royse.
Key Facts
• Glasgow’s Johnson property committee is revisiting its redevelopment strategy for the city-owned site
• Consultant Rob Campbell says the focus is on reducing financial risk to the city
• Officials are exploring incentives, including delaying land payments until after development and sales
• Earlier RFP responses suggested developers expected more incentives than Glasgow initially offered
• The committee wants contract language and covenants to protect long-term quality and maintenance
• A new request for proposals is expected to be reissued, with May mentioned as a likely target
• Members are watching the legislative session and state roadway plans before finalizing terms
Michael Crimmins with Glasgow News 1 contributed to this reporting.
