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University of Kentucky

Commonwealth Economics was retained by the University of Kentucky to work with the University’s President, Athletics Department, Executive Vice President of Finance and other University personnel in an advisory role on a variety of matters. For more information, please contact us.

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Kentucky Community & Technical College System

Commonwealth Economics has been hired by Kentucky Community & Technical College System to provide financial consulting services regarding administrative structuring, agency bonds, tax-exempt bonds, credit ratings and the preparation of required documents and agreements. For more information, please contact us.

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Metro Louisville: Department of Economic Growth and Innovation

Commonwealth Economics is assisting Metro Louisville in analyzing the Water Company Block TIF footprint and Development Area for the proposed project, which includes as the center piece an Omni Hotel. The pertinent factors being examined include: state property, sales and withholding taxes, as well as, local property and occupational taxes generated from the footprint which will be used to offset cost associated with funding the public infrastructure needed for the development. For more information, please contact us.

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Summit Lexington

Commonwealth Economics developed a detailed report analyzing the feasibility, economic, and fiscal impacts of a proposed $156 million mixed-use development in Lexington, KY. The proposed project includes various retail stores, restaurants, office and service industry businesses, and residential condominium and apartment units. The report was used by Bayer Properties and the Lexington-Fayette Urban County Government in order to analyze the potential incremental tax revenue generated by the project, and has been submitted to the Kentucky Economic Development Finance Authority as a part of a TIF application requesting state participation in assisting the funding the public infrastructure portions of the proposed Project. For more information, please contact us.

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University of Cincinnati

Commonwealth Economics is assisting the University of Cincinnati Department of Athletics with a review of basketball arena options. (Confidential)

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Proposed Quarter Horse Racing Facility & Accompanying Improvements

Commonwealth Economics has been retained by the Keeneland Association to conduct an Economic & Fiscal Impact Analysis for their proposed project. The report will consist of a quantitative economic impact analysis detailing statewide employment estimates/job creation, wage impacts and economic output estimates as well as a quantitative fiscal impact analysis which will detail state and income tax revenues directly associated with the proposed project.

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Turfland Mall TIF Project

Commonwealth Economics is assisting Turf Development, LLC in conducting a TIF Feasibility Analysis and Finance Model for their proposed project. The final report will include a financial analysis, quantitative analytics and tax revenue projections from eligible state and local TIF taxes pertaining to the project area. CE principals will provide assistance with TIF program qualification requirements to allow the Project developers to assess the various options available and choose the appropriate program for the project. For more information, please contact us.

Owensboro

Proposed Downtown TIF Project/Proposed Highway 54 Project

Commonwealth Economics has been retained by the City of Owensboro to produce separate TIF Program Overview and Feasibility reports for the proposed projects. For more information, please contact us.

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Midway Station TIF Project

The principals of CE are assisting Midway Station in conducting a TIF Feasibility Analysis and Finance Model for their proposed project. The analysis will include a financial analysis, quantitative analytics, tax revenue projections from eligible state and local TIF taxes pertaining to the project area and estimated tax recovery summaries. CE principals will provide assistance with TIF program qualification requirements to allow the Project developers to assess the various options available and choose the appropriate program for the project. For more information, please contact us.

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University Village Lexington TIF Project 

Commonwealth Economics was retained by Anderson Communities to conduct a TIF Feasibility Analysis and Financial Model for the proposed project. The analysis will include a financial analysis, quantitative analytics, and tax revenue projections from eligible state and local TIF taxes pertaining to the project area. CE principals will provide assistance with TIF program qualification requirements to allow the Project developers to assess the various options available and choose the appropriate program for the project. For more information, please contact us.

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Georgetown Alternative TIF Project Feasibility Analysis

Commonwealth Economics is assisting May Commercial Group, Inc. in conducting a TIF Feasibility Analysis and Finance Model for their proposed project. The analysis will include a financial analysis, quantitative analytics, and tax revenue projections from eligible state and local TIF taxes pertaining to the project area. CE principals will provide assistance with TIF program qualification requirements to allow the Project developers to assess the various options available and choose the appropriate program for the project. For more information, please contact us.

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Rupp Arena/LCC

Commonwealth Economics and C.H. Johnson collaborated to produce this report. It includes analysis and recommendations for physical expansion, estimates of demand and projected financial performance associated with the Lexington Convention Center and Rupp Arena. We also prepared an economic and fiscal impact analysis for both the convention center and the potential new arena based on recommendations derived from the market study and feasibility analysis. For more information, please contact us.

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Brent Spence Bridge

Commonwealth Economics was retained by the Northern Kentucky Chamber of Commerce to complete an analysis and strategy report regarding potential funding models to aid in the development of a financial plan to pay for the construction and rehabilitation of the Brent Spence Bridge Corridor. The analysis consisted of developing a basic traffic and revenue model for funding alternatives, evaluating funding sources and the funding gap and develop a proposed plan of finance for the project. For more information, please contact us.

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Oxmoor TIF Development 

Commonwealth Economics provided Nicklies Development and the Bullitt Family Trust with a complete analysis of the potential to use Tax Increment Financing (TIF) in the development of the Oxmoor Farm property. The analysis included a thorough overview of TIF program qualification requirements and how they relate to the proposed project, as well as a detailed tax revenue impact analysis to be used in determining the overall benefit that may be realized through TIF participation for various development options. (Confidential)

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G&B Terminal

Commonwealth Economics is assisting G&B Terminal with debt and ownership restructuring, development of a business plan to take advantage of their existing assets, and negotiations with potential business partners. The existing assets at the facility will be used to transport grain through river terminal operations, as well as to offload fertilizer products to surrounding agribusiness partners. For more information, please contact us.

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Morris County Trust Fund Analysis and Strategy Report

Commonwealth Economics was retained by Brandstetter Carroll, Inc. to conduct a multifaceted analysis and strategy report for the Morris County Park Commission focusing specifically on the Morris County Preservation Trust Fund. The analysis examined fiscal and economic impacts of preserved open space, farmland, historic sites, and flood-prone properties. The associated impacts included: municipal budgets, property values, tourism, water resource protection, public safety, quality of life, and job growth. For more information, please contact us.

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Oak Grove

Commonwealth Economics conducted a TIF Feasibility Analysis as well as a detailed Economic and Fiscal Impact Study analyzing the feasibility, fiscal, and economic impacts of a proposed $230 million mixed-use development, including an amusement park, retail space, restaurants, and a theatre, to be located across from Fort Campbell in Christian County, Kentucky. The analysis looked at the development’s expected ability to succeed in the regional market and quantified the economic and fiscal impacts that a development with these components would have throughout the State. For more information, please contact us.

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Midland Avenue TIF Project

Commonwealth Economics is assisting Urban Redevelopment Group, LLC in conducting a TIF Feasibility Analysis and Finance Model for their proposed project. The analysis will include a financial analysis, quantitative analytics, and tax revenue projections from eligible state and local TIF taxes pertaining to the project area. CE principals will provide assistance with TIF program qualification requirements to allow the Project developers to assess the various options available and choose the appropriate program for the project. For more information, please contact us.

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Lexington/Fayette Affordable Housing Trust Fund (LFUCG)

Commonwealth Economics provided the Lexington-Fayette Urban County Government with a complete view of the anticipated economic, fiscal, and social impacts that an Affordable Housing Trust Fund (and the construction and rehabilitation projects that it generates) would have throughout Lexington. The estimates and information generated by Commonwealth Economics’ research have been used by the local government to guide discussions and debates regarding the potential benefits of implementing an affordable housing program in Lexington. For more information, please contact us.

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Nucleus

Commonwealth Economics assisted Nucleus/Louisville Medical Center Development Corporation in gaining approval for over $300 million in tax increment financing incentives to build out a biotech research park. For more information, please contact us.

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Red Mile TIF

Commonwealth Economics was retained by the Lexington Trots Breeders Association to take the lead in guiding their Red Mile Mixed-Use Development project through the Tax Increment Financing (TIF) process. Under the direction of Commonwealth Economics, the project successfully received local approval, submitted their TIF Application to the State, and has been awarded up to $25.3 million in recoverable tax dollars from the Kentucky Economic Development Finance Authority, in addition to the incremental revenues contributed locally. For more information, please contact us.

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Krikorian Premiere Theatres

Commonwealth Economics developed an Economic and Fiscal Impact Analysis for Krikorian Premier Theatres (KPT) out of California for a new $70 million mixed-use project. For more information, please contact us.

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Commonwealth Stadium 

Commonwealth Economics provided the University of Kentucky Athletics Department with a detailed feasibility analysis of various securitization methods and financial structures that could be used to finance renovations to Commonwealth Stadium. The analysis included: estimating the potential new revenues to be generated as a result of the stadium improvements, identifying other expected and potential revenue streams to the football program, analyzing the costs and benefits of various securitization methods using the program’s revenue streams and providing an overall recommendation as to the best capital structure to be used to finance the project. (Confidential)

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Coldstream Research Park

Commonwealth Economics analyzed the feasibility, fiscal and economic impacts of the proposed development of the Coldstream Research Park for which plans include; lab space, educational buildings, office space, residential apartments, and retail space. For more information, please contact us.

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United States Hockey League

Commonwealth Economics provided Total Package Hockey with a detailed feasibility and impact analysis regarding the potential relocation of a USHL hockey franchise to central Kentucky. This study examined the possible benefits associated with bringing a team to the area and provided a comprehensive analysis of the proposal in order to determine the feasibility of the endeavor in the central Kentucky market and the benefits – including both economic and fiscal – which the introduction of this USHL franchise could bring to the region and State as a whole. For more information, please contact us.