“I am keeping that promise,” Fischer said. “The library is the only project I’m borrowing money to pay for. The city should generally only issue bonds for strategic long-term investments and the library meets that standard.”
The library, to be located in Valley Station on Dixie Highway, will cost $13 million. The city will pay $9.5 million and the Library Foundation will raise $3.5 million.
“This is one of several great examples of how we have leveraged taxpayer dollars with contributions from the private sector,” Fischer said.
Other ways in which the city attracted private dollars include:
The mayor also continued funding $4.9 million in grants to external agencies, arts, community ministries, and social service agencies. He also kept funding levels for the University of Louisville indigent health care fund, known as the Quality Care and Charity Trust, at $7 million, the same level since city-county merger in 2003.
Other budget highlights include:
The mayor presented his budget plan today to the Metro Council, which will spend the next month reviewing it before a final vote in late June. The new fiscal year begins July 1.
Expenditure classifications in current Louisville city budget
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