Kenton County Fiscal Court approved at its Oct. 24 meeting $2 million to support the proposed redevelopment of the former Drawbridge Hotel and Convention Center property located in Fort Mitchell.
The funding will be used to pay for required storm sewer upgrades neighboring the redevelopment project that stand to benefit the broader Fort Mitchell community and beyond.
The money will come from Kenton County’s $13 million site development fund which Sen. Chris McDaniel secured for the county during the last budget session while serving as chair of the Kentucky Senate Appropriations & Revenue Committee. The fund is administered by the Northern Kentucky Port Authority.
This is the second time Kenton County has used this funding pool to boost local economic development. Earlier this year, the county approved $3 million to purchase the former Sims Furniture Building in downtown Covington. There, officials will create a regional entrepreneurship center.
“This project, much like the purchase of the Sims Furniture Building, stands to have a big impact on all of Kenton County and shows just how big it was for Sen. Chris McDaniel to secure these site development dollars,” Judge/Executive Kris Knochelmann said. “With this project alone, we’re leveraging $2 million to generate many times that amount in private-sector funding for a site that’s been vacant for more than a decade.”
“I’m thrilled to see another great investment by Judge Knochelmann and the Kenton County Fiscal Court,” Sen. McDaniel said. “The purpose of this funding is to help sites clear the last hurdles to be ready for economic development and this is exactly what they are doing.”
The proposed project will include office, commercial and residential space, including a continuous care retirement community. It is being spearheaded by Bellevue-based Brandicorp Inc.
Fort Mitchell Mayor Jude Hehman said, “This has been a collaborative effort between Fort Mitchell City Council, the development team, the state and Kenton County. I thank Judge Knochelmann and Kenton County Fiscal Court for working with me and our City Council to bring vibrancy back to this site and the city. This development is a model for how public and private sectors work together to achieve success. When government and industry collaborate, we turn challenges into opportunities and dreams into tangible realities, creating a stronger, more resilient future for our residents. I am excited for the development team to break ground.”
Pending additional approvals, work is expected to begin by the end of 2023.