Lexington council members Thursday got more details about the land-street swap deal between city government and the University of Kentucky.
The plan, already endorsed by the UK board, could come before council for final approval in the next few weeks.
The deal, first unveiled last fall, has UK handing over 250 acres of commercial friendly property near I-75, in exchange for control of about 20 sections of city streets near campus. Control of a portion of Rose Street has been a priority for UK. Regarding other city streets, UK Vice President Eric Monday reiterated there are no short term plans for development. “Even if we are talking about streets that we may receive three or four years away, there’s no plans or desires to close those on day one,” said Monday.
The city is expected to get control of 50 site ready acres off Newtown Pike within six months. Chief Development Officer Kevin Atkins says the other 200 acres are not slated to come under government ownership until January 2022. He says that’s to give UK time to relocate Dairy and Poultry research operations currently located on the property.
