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Downtown Lexington Management District seeks 10-year reauthorization, citing added stability for larger projects
Summary
The Downtown Lexington Management District presented its petition for a 10-year reauthorization, reporting majority owner support and arguing a 10-year window would allow larger projects and bonding capacity; the board reported about $560,000 in annual revenue and described programs for maintenance, safety and grants.
The Downtown Lexington Management District (DLMD) presented a petition to the Lexington-Fayette Urban County Council seeking reauthorization for a 10-year term.
Jim Frazier, chair of the district, said the longer term "allows us continuity to do bigger projects" and increases the district's ability to bond for larger capital investments. Frazier told council the district's footprint covers roughly 2 percent of the county land area but accounts for a disproportionate share of downtown employment and revenue…
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