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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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CentrePointe TIF Project

Commonwealth Economics was retained by the The Webb Companies to take the lead in guiding their City Center (Phoenix Park) 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 $48.8 million in recoverable tax dollars from the Kentucky Economic Development Finance Authority, in addition to the incremental revenues contributed locally. CE has also provided a detailed analysis of various securitization methods and financial structures which were used to finance a modified development plan. The analysis included: estimating the potential new revenues to be generated as a result of the modified development plan, analyzing the costs and benefits of various securitization methods, and providing an overall recommendation as to the preferred capital structure to be used to finance the project’s infrastructure. For more information, please contact us.

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Centre College

Commonwealth Economics was hired by Centre College as its Municipal Advisor with regard to capital structures used to finance upcoming projects. For more information, please contact us.

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Transylvania University

Commonwealth Economics was hired by Transylvania University to conduct an Analysis regarding the potential financial impact of funding future University projects. For more information, please contact us.

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Metro Louisville

Commonwealth Economics is retained by Metro Louisville to advise the City regarding a variety of economic development projects as they arise. For example, Commonwealth Economics assisted 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 examined included: 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.

Owensboro Riverport Authority

Owensboro Riverport Authority

Commonwealth Economics was hired by the Owensboro Riverport Authority to conduct an Economic Impact Analysis of Public Port Authority Operations in Owensboro, Kentucky. For more information, please contact us.

MCFC

Madison County Fiscal Court

Commonwealth Economics was retained by the Madison County Fiscal Court Addiction Recovery Review Team to take the lead in guiding their Healing Center Development project through the Public-Private Partnership process. Under the direction of Commonwealth Economics, the project successfully received 10 proposal responses, interviewed 3 finalists, and selected the proposed facility operator by January 2018. For more information, please contact us.

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Essex Development

Commonwealth Economics assisted Essex Development in conducting a Feasibility Analysis and Finance Model for their proposed project. The analysis included a financial analysis, quantitative analytics, and tax revenue projections from eligible state and local taxes pertaining to the project area. Commonwealth Economics was retained by Essex Development to help them determine potential solutions to financing the infrastructure needs in the area, including the use of Tax Increment Financing and/or Industrial Revenue Bonds. For more information, please contact us.

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Kentucky Infrastructure Coalition

Commonwealth Economics was hired by the Kentucky Infrastructure Coalition to conduct a Funding Assessment and Economic Impact Analysis of Kentucky’s transportation infrastructure. Specifically, the Analysis examined changes in Kentucky’s funding model, the projected shortfall related to prior year expenditures, and provided an overview of future construction and maintenance needs and potential funding sources. For more information, please contact us.

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Summit Lexington

Commonwealth Economics was retained by Bayer Properties to take the lead in guiding their Summit Lexington 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 $31 million in recoverable tax dollars from the Kentucky Economic Development Finance Authority and the Lexington-Fayette Urban County Government. Following final TIF approval at both the local and state levels, Commonwealth Economics was retained by Bayer Properties to provide financial advisory services related to the issuance of TIF Revenue Bonds for the Summit Lexington Project in order to generate up-front capital for the Project’s infrastructure improvements, without any credit support other than the future TIF revenue reimbursements. Commonwealth Economics believes that this was the first “naked” and unrated TIF Bond sold under the Commonwealth’s TIF program. Commonwealth Economics remains involved in the Project in a compliance role related to required ongoing TIF reporting. For more information, please contact us.

CPT
Capital Plaza Tower Project

Commonwealth Economics was hired by CRM Development Companies, Inc. as its Municipal Advisor regarding the capital structure used to finance the Capital Plaza Tower Replacement Project. Commonwealth Economics advised CRM Development Companies, Inc. on potential changes in market place practices, market conditions, and regulatory requirements, and other matters which may have impacted the preferred financing plan. For more information, please contact us.

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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 and assisted in conducting a TIF Feasibility Analysis and Finance Model for their proposed project expansion for which plans include: lab space, educational buildings, office space, residential apartments, and retail space. The analysis included a financial analysis, quantitative analytics, and tax revenue projections from eligible state and local TIF taxes pertaining to the project expansion area. The Project has now received preliminary approval for state TIF participation from the Kentucky Economic Development Finance Authority. For more information, please contact us.

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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. For more information, please contact us.

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The Recon Group

Commonwealth Economics was hired by goTRG (formerly known as “The Recon Group, Inc.”) to take the lead in guiding their leased project through the Kentucky Business Investment (“KBI”) process. Under the direction of Commonwealth Economics, the project successfully received participation of the local occupational license fee, submitted their KBI Application to the State, and has been awarded wage assessment/tax credit incentives by the Kentucky Economic Development Finance Authority. For more information, please contact us.

Owensboro

Downtown / Gateway Commons (Highway 54) TIF Projects

Commonwealth Economics was been retained by the City of Owensboro to take the lead in guiding both their Downtown and Gateway Commons Mixed-Use Development projects through the Tax Increment Financing (TIF) process. Under the direction of Commonwealth Economics, each project successfully submitted their TIF Application to the State, and have been awarded up to a combined $45 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.

LCFC
Butchertown Stadium Development TIF Project

Commonwealth Economics developed a detailed report analyzing the feasibility and the economic and fiscal impacts of a proposed mixed-use development in Louisville, KY, to include: a new soccer stadium for Louisville City FC (“LCFC”), various retail stores, restaurants, office and service industry businesses, and multiple hotels. The Public-Private Partnership between LCFC and Louisville Metro was awarded up to $21.7 million in state incremental tax revenues by the Kentucky Economic Development Finance Authority to assist in funding the public infrastructure portions of the Project. For more information, please contact us.

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Downtown Morehead TIF Project

Commonwealth Economics assisted Downtown Morehead Inc. in conducting a TIF Feasibility Analysis and Finance Model for their proposed project. The final report included a financial analysis, quantitative analytics and tax revenue projections from eligible state and local TIF taxes pertaining to the project area. CE principals provided assistance with TIF program qualification requirements to allow the Project developers to assess the various options available and establish the TIF Development Area at the local level. For more information, please contact us.

Ashland
Ashland Plaza Redevelopment TIF Project

Commonwealth Economics assisted the City of Ashland in conducting a TIF Feasibility Analysis and Finance Model for their proposed project. The final report included a financial analysis, quantitative analytics and tax revenue projections from eligible state and local TIF taxes pertaining to the project area. CE principals provided assistance with TIF program qualification requirements to allow the Project developers to assess the various options available and establish the TIF Development Area at the local level. For more information, please contact us.

WKT
WK&T Technology Park TIF Project

Commonwealth Economics assisted Telecom Management Services in applying to the Kentucky Economic Development Finance Authority for state TIF incentives. Asa part of this application, Commonwealth Economics developed a TIF Impact Analysis and accompanied the project team in presentations and discussions with the state officials. The Project has now received preliminary approval for state TIF participation from the Kentucky Economic Development Finance Authority. For more information, please contact us.

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Kentucky Community & Technical College System

Commonwealth Economics was 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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University of Cincinnati

Commonwealth Economics assisted the University of Cincinnati (“UC”) Department of Athletics with an economic and fiscal review of basketball arena renovation options and potential funding sources. UC Athletics chose to conduct an $87 million privately-funded renovation of Fifth Third Arena which is set to open in Fall 2018. 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. For more information, please contact us.

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G&B Terminal

Commonwealth Economics assisted 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 $200 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.

MD
Midland Avenue TIF Project

Commonwealth Economics was retained by the Urban Redevelopment Group, LLC to take the lead in guiding their Midland Avenue 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 $17 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.

KY
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. Under the direction of Commonwealth Economics, each project successfully submitted their TIF Application to the State, and have been awarded up to a combined $15.5 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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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. 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.