The governments of Fayette, Scott and Madison Counties have each given their approval to cooperate on building a 300-acre regional business park in Berea.
The Lexington-Fayette County Urban Government approved their involvement with the project during their regular Thursday meeting. Berea will get a 10 percent hosting fee, after which each county will get 33 percent of the park’s tax revenues.
The site will be located on what’s currently the Menelaus Industrial Park. The group will create a development authority to buy and manage the park.
$5.5 million in Congressionally Directed Funding will be used for the site’s development.
A similar project was set to be built in Georgetown, but the Georgetown City Council voted it down amid local pushback.
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