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Owensboro commission approves purchase of 315 and 317 Walnut Street as partial block acquisition for parking and future development
Summary
The commission approved two municipal orders directing the mayor to execute purchase agreements for 315 Walnut Street ($100,000) and 317 Walnut Street ($115,000). City staff said acquiring the parcels pushes ownership above 90% of the block west of the indoor sports facility and will provide parking and support future redevelopment.
The Owensboro Board of Commissioners approved two municipal orders directing the mayor to execute purchase agreements for properties at 315 Walnut Street ($100,000) and 317 Walnut Street ($115,000).
City Manager Nate Pagan told the commission the city already owns about 90% of the block bounded by Third and Fourth streets and Cedar and Walnut streets, an area immediately west of the indoor sports facility under construction. He said the two purchases push city ownership to more than 90% of the block and that in the short term the parcels would serve as parking for the indoor sports facility or other downtown events. “It would be our intention eventually to acquire the whole block for a future development project,” Pagan said.
Pagan said one parcel became available when the owner approached the city and the other was a vacant rental house with an owner willing to sell. He gave purchase prices as $100,000 for 315 Walnut and $115,000 for 317 Walnut. Commissioners approved both municipal orders on first reading by voice vote.
Commission discussion included a question about taking the property off the tax rolls; the city manager acknowledged the purchases would reduce taxable property in the short term but argued the long-term redevelopment goal informed the acquisitions.
