Latest news with #TARC
Yahoo
3 days ago
- Business
- Yahoo
What's going on with the Nia Center? What to know about the controversy
The future of the Nia Center in west Louisville still hangs in the balance after a proposal from the West End Opportunity Partnership to buy the property failed to move forward during a June 12 vote. The vote came in the wake of a May announcement that the Transit Authority of River City had agreed to sell the building, which serves as a small business incubator and community resource center, to Goodwill to make way for more affordable housing to be built in the Parkland neighborhood. The move, which tenants say they were not informed of prior to the deal, has since sparked protests from residents and community leaders who say they are being forced out with few options on places to go. Here's what to know about the Nia Center and the plans for the building: The Nia Center originally opened in the former Tube Turns building at the corner of Broadway and 29th Street as TARC's Nia Travel and Job Center in 1997. At the time of its creation, the center was part of Louisville's "Empowerment Zone Campus," a collection of community investments and developments in 10 of the city's poorest neighborhoods, all located in the West End. The project was originally pitched in 1993 as part of an effort to draw one of six $100 million federal grants meant to help stimulate poor areas in the U.S., and continued even after the bid failed, according to a December 1996 Courier Journal article. In March 1998, the city added the Enterprise Development Center, an 11,000-square-foot space meant to serve as an incubator for small businesses. "We created the Nia Center to serve as a one-stop shop of economic opportunity for our Empowerment Zone," former Louisville Mayor Jerry Abramson told The Courier Journal at the time. "The Enterprise Development Center provides the space; the rest of the Nia Center resources offer business assistance and employee services." The Nia Center has become a focal point of the community in the years since, hosting several small businesses, a local licensing office for the Kentucky Transportation Cabinet and a youth job-skills academy, among other organizations. On May 21, Goodwill Kentucky submitted a purchase proposal agreement to TARC, offering to buy the property for $2.1 million with the intention of building 76 units of affordable housing on the site, which is located next to its newly opened Opportunity Center. Roughly a week later, the TARC board authorized Executive Director Ozzy Gibson to sign a letter of intent to sell the property, but the deal has not yet been finalized. The West End Opportunity Partnership later held two special meetings to discuss buying the property and leasing it to Goodwill, which would partner with Columbus-based Woda Cooper Companies to develop a $21.5 million four-story housing complex. A June 12 vote on that proposal ended in a tie, meaning the WEOP board will not make the purchase. Business owners who are currently housed in the Nia Center said they were assured TARC would not sell the space, but received letters May 29 notifying them of the sale. Shaun Spencer, owner of a printing shop inside the Nia Center, said she and other tenants originally believed the Goodwill Opportunity Center would work in partnership with the existing community, and she now feels they're being forced out to make way for a new housing complex that is a bad direction for the neighborhood. 'We are against being displaced and resources being removed and replaced with what is seen as affordable housing," Spencer said. "… Let's use some existing properties that are already vacant and for sale. Let's convert those instead of tearing down a building that is providing community resources and then building on top.' City officials have said businesses housed by the center may continue to occupy the property through November rent-free but will have to vacate by December. Plans are currently in the works to find a new place for the existing businesses, but no further details have been released. This article originally appeared on Louisville Courier Journal: Nia Center in Louisville: What to know about potential sale
Yahoo
3 days ago
- Business
- Yahoo
West End board to hold second vote on buying Nia Center. How the proposal has changed
The West End Opportunity Partnership will again vote on a proposal to purchase the Nia Center and lease it to Goodwill to build affordable housing — this time with additional funds set aside to help displaced businesses. In May, the Transit Authority of River City agreed to sell the building, which serves as a small business incubator and community resource center for those in the Parkland neighborhood, to Goodwill, which plans to build 76 affordable housing units on the land. At a June 12 meeting, the West End Opportunity Partnership (WEOP) board considered buying the property on behalf of Goodwill, though the proposal failed to move forward after a tie vote. The victory for those opposing the closure of the center was short-lived, however, as the WEOP announced a second vote on the proposal during a special meeting on June 18. More: What's going on with the Nia Center? What to know about the controversy The proposed redevelopment has come under fire from Nia Center tenants, community members and some elected officials in the weeks since TARC announced it would be selling the property. In an effort to help those displaced by the potential sale of the center, an addendum has been added to the original proposal to provide a one-time payment of $5,000 to nongovernmental tenants of the Nia Center, according to a copy of the proposal shared with The Courier Journal. 'This is in addition to the binding promises of Goodwill Industries of Kentucky to provide cash assistance in the form of moving expenses and security deposits at new lease locations for tenants, and the offers of Goodwill Industries of Kentucky and Louisville Metro Government to provide assistance in locating new lease locations within West Louisville,' the addendum reads. The Courier Journal reached out to representatives from the WEOP and Goodwill, but requests for comment were not returned prior to publication. According to the purchase proposal, the WEOP would buy the property for $2.1 million and lease it to Goodwill for $1 annually. Goodwill has committed $500,000 to demolition and site preparation, and affordable housing developer Woda Cooper Companies is prepared to begin construction on a $21.5 million four-story housing complex. According to WEOP staff, Goodwill had hoped to solidify the purchase before June 15, when low-income housing tax credits obtained by Woda Cooper Companies expire. The WEOP is a nonprofit partnership created in 2021 that's tasked with deciding how to spend revenue from a tax increment financing (TIF) district that covers Louisville's West End. Some in the community feel buying the Nia Center would be a misuse of the TIF revenue the WEOP was created to monitor and spend. The Coalition of West Louisville Neighborhood Associations sent a letter to the WEOP opposing the purchase, saying it is 'against the will of the residents and taxpayers of West Louisville.' 'These funds are intended to create economic opportunity, promote generational wealth, and uplift the communities of West Louisville — not to subsidize a private nonprofit with terms that offer no direct financial return of community ownership,' the letter reads. This story will be updated. Reach reporter Keely Doll at kdoll@ This article originally appeared on Louisville Courier Journal: West End TIF board to again vote on buying Nia Center for Goodwill
Business Standard
03-06-2025
- Business
- Business Standard
TARC reports consolidated net loss of Rs 104.52 crore in the March 2025 quarter
Sales rise 24.68% to Rs 11.82 crore Net Loss of TARC reported to Rs 104.52 crore in the quarter ended March 2025 as against net loss of Rs 51.75 crore during the previous quarter ended March 2024. Sales rose 24.68% to Rs 11.82 crore in the quarter ended March 2025 as against Rs 9.48 crore during the previous quarter ended March 2024. For the full year,net loss reported to Rs 231.22 crore in the year ended March 2025 as against net loss of Rs 77.05 crore during the previous year ended March 2024. Sales declined 69.77% to Rs 33.69 crore in the year ended March 2025 as against Rs 111.45 crore during the previous year ended March 2024.
USA Today
26-01-2025
- Politics
- USA Today
Daily Briefing: TARC in need of deep cuts or new funding as dire budget gap nears
Daily Briefing: TARC in need of deep cuts or new funding as dire budget gap nears Good morning and happy Sunday, Louisville! (You can read today's eNewspaper here.) Today will be mostly cloudy with a high near 41. Here are the top stories: The Transit Authority of River City could soon look dramatically different for the thousands who ride it daily as Louisville's public transit agency battles steep financial troubles. In 2024, TARC officials predicted the agency could face an operational budget shortfall as high as $30 million by mid-2026 if major changes aren't made to rescue the agency from its financial woes, either in the form of new funding that could keep a robust bus network or drastic cuts that could cripple the system. Read more from Courier Journal reporter Killian Baarlaer. In other news: Crime: Quintez Brown, the man who pleaded guilty to shooting at now-mayor Craig Greenberg in 2022, will serve 17.5 years in prison. Read more here. Quintez Brown, the man who pleaded guilty to shooting at now-mayor Craig Greenberg in 2022, will serve 17.5 years in prison. Read more here. Health: President Donald Trump voided an executive order signed by former-President Joe Biden aimed at lowering prescription drug prices. Here's what to know. President Donald Trump voided an executive order signed by former-President Joe Biden aimed at lowering prescription drug prices. Here's what to know. JCPS: JCPS sent its staff instructions after President Donald Trump's administration rescinded a policy that prevented ICE agents from conducting arrests on school campuses. Learn more here. From the Sports Desk UK basketball: Kentucky basketball was at its worst defensively in the first half, but Mark Pope's Wildcats sizzled offensively in the second half vs Vanderbilt. Read the game story here. Kentucky basketball was at its worst defensively in the first half, but Mark Pope's Wildcats sizzled offensively in the second half vs Vanderbilt. Read the game story here. Girls basketball: Sacred Heart basketball defeated Missouri power Incarnate Word in the Raatz Fence/O'Shea's Basketball Classic on Saturday at Mercy. Read more here. Featured Gallery The late Shirley Mae Beard, a Louisville restaurateur who ran Shirley Mae's Cafe for over 30 years, was celebrated by friends and family Friday at the Kentucky Derby Museum. See our gallery created by Courier Journal photographer Michael Clevenger. We'll be back tomorrow with more headlines. Have a great week ahead, Stephanie
