On Tuesday, Sept. 9, the Kenton County Fiscal Court approved allocating funds from its Community Redevelopment Fund to the City of Taylor Mill.

The Community Redevelopment Fund aims to provide Kenton County cities with support for redevelopment projects that will positively impact businesses and generate jobs.

The Fund has $5 million, thanks to the Kentucky General Assembly, which included it in the 2024 budget.

Taylor Mill will receive $805,500 to acquire underperforming assets within its jurisdiction and redevelop them. The City approved its local contribution Wednesday, Sept. 10. The City has 36 months to use the resources, with any unused funds returned to the County.

“This is the third time we’ve put the Community Redevelopment Fund to work, and each project shows how these dollars can transform good ideas into tangible community assets,” Judge Executive Kris Knochelmann said. “We’re excited to see Taylor Mill take advantage of this opportunity to build something lasting for their residents.”

Previous Fund recipients include Independence and Erlanger.

Taylor Mill Mayor Dan Bell said: "The Taylor Mill Commission is proud to join with the Kenton County Fiscal Court and their Community Redevelopment Fund to breathe new life into underutilized spaces in our City. This partnership is all about creating opportunities, boosting local business and making our neighborhoods even better places to live, work and connect. The commission is grateful the Fiscal Court shares the City's vision for the economic vitality of Taylor Mill.”

In March, Kenton County tapped the Catalytic Fund to serve as an expert advisor on the deployment of the Community Redevelopment Fund. As part of that agreement, the Catalytic Fund, which has a proven track record of successful real estate investing in Northern Kentucky, will vet city funding proposals to determine which projects stand to generate the maximum impact for residents, among other duties.

“Taylor Mill presented our team a clear plan for how redevelopment can enhance their community,” Catalytic Fund CEO Jeanne Schroer said. “When cities take this kind of proactive approach, it not only improves quality of life for residents but also sparks new investment. We look forward to supporting Taylor Mill as they bring their vision to life.”

Formal proposals for Community Redevelopment Fund dollars must be submitted by a city’s mayor, in consultation with its legislative body, with the city demonstrating its ability to provide a 10% match for any funding awarded.

Eligible projects should generally be focused on property development – such as acquisition, renovation, site preparation, etc. – or right-of-way improvements that enhance the quality of life by ensuring safety and accessibility to all residents.

Proposals that do not fall under these parameters can be shared and vetted with Planning and Development Services of Kenton County’s Community Development Department for potential eligibility or access to other funding opportunities.

In addition to its Community Redevelopment Fund, the County continues to seek ways to deploy its $13 million Site Development Fund, which is administered by the Northern Kentucky Port Authority. The County’s Site Development Fund has been used for several high potential projects, including purchasing the building that is now home to SparkHaus, Northern Kentucky’s hub for entrepreneurship.

The Site Development Fund also supported the addition of new power transmission lines for Niagara Bottling’s Elsmere facility and storm sewer upgrades to support the redevelopment of the former Drawbridge Hotel and Convention Center in Fort Mitchell.