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Fiscal court approves potential purchase and due diligence plan for 2494 Lexington Road; assigns possible transfer to regional authority
Summary
Madison County approved a resolution authorizing purchase contingencies and due diligence for the Car Acres parcel at 2494 Lexington Road and awarded due-diligence services to a consulting team; the court discussed next steps for site readiness and potential funding.
Madison County Fiscal Court approved a resolution on May 13 authorizing the county to enter a purchase agreement, conduct due diligence and potentially assign the agreement for 2494 Lexington Road (the Car Acres property) to the Central Kentucky Business Park Authority, subject to contingencies including acceptable due diligence, available funding and rezoning approval.
Jill presented the resolution and said the county will proceed with customary due diligence work and noted any assignment to the Central Kentucky Business Park Authority would require agreement of all parties. The court then approved a separate resolution to award due‑diligence services to engineering and surveying firms (Bayer Becker and Spencer Land Surveying) after reviewing multiple bids; MWM Consulting and its representative Lucas assisted on the procurement and explained the next steps.
Lucas of MWM Consulting told the court the immediate goal is to determine whether the property can be developed for large economic‑development opportunities. He said the initial due diligence window would take roughly 90–120 days to return engineering, environmental and other analyses and that earnest money in the purchase agreement is refundable if the county withdraws within the due-diligence period. Lucas said the county will pursue state and federal funding sources — including potential Kentucky Product Development Initiative (PDI) funds and other state grants or utility partnerships — to offset acquisition and site‑preparation costs.
Judge Taylor and court members described the site as strategically located and noted further work will include engineering studies, funding strategies and marketing once the site is more land-ready. The court approved the purchase‑authorization resolution and the due‑diligence contract award by roll call.
