June 13, 2023

Shepherdsville and Kentucky Bond Corp Announce $30M Project

The Kentucky League of Cities joined state and city officials Monday night to celebrate a multimillion-dollar improvement project for the City of Shepherdsville. The project is funded with a $30 million lease agreement from the Kentucky Bond Corporation ‒ the largest project to date for the Corporation.

Shepherdsville Mayor Jose Cubero said the city would utilize the funds over the next few years to develop several community facilities. “It’s an investment in the future that is long overdue,” he stated.

The city will construct a new aquatics center with an indoor Olympic-size pool in an abandoned building. Plans also call for splash pads; soccer, baseball, and football fields; a 5K walking trail; a dog park; and a 2,500-seat amphitheater.

Additionally, the city will undertake a downtown beautification project with benches, lighting, and a new streetscape. Mayor Cubero described it as “building a town square so we have that kind of feel that we own it. It’s part of the community.”

The mayor said the project is an investment in the city’s future. “We’re getting really strong interest from private industry. They’re excited that we’re spending this type of money to invest in our city,” he stated. “It’s been 15-20 years overdue.”

KLC Executive Director|CEO James D. Chaney presented the city with a ceremonial check at Monday night’s Shepherdsville City Council meeting. He spoke about city officials’ decision to invest in the community’s future. “This is a monumental event for the City of Shepherdsville,” Chaney remarked. “City officials are unified in their decision to take this step to improve the quality of life for everyone who visits and lives in the community. We are proud to partner with the city on this project to help Shepherdsville grow and prosper.”

Senator Mike Nemes (R-Shepherdsville), Representative Thomas Huff (R-Shepherdsville), and Representative Russell Webber (R-Shepherdsville) attended Monday night’s event and commented on the city’s announcement.

“Mayor Cubero has great foresight in revitalizing downtown Shepherdsville and leveraging the I-65 Corridor close to Louisville,” said Senator Nemes. “This park is part of an overall strategy to make the community more attractive for families to call home and for new and existing businesses to thrive. This project is a financially responsible use of taxpayer funding, and I trust it will provide a great return on investment and increase property values. I appreciate all involved in making this possible.”

“This is a tremendous investment in our community that will produce results felt by the folks who call Shepherdsville and Bullitt County home. As one of the fastest growing communities in our commonwealth, I’m pleased to see local leaders working to identify how we can improve our quality of life while creating a family-friendly destination for the entire region,” added Representative Webber. "I am excited to see this project take shape and appreciate the commitment of city officials and the Kentucky League of Cities to bringing the vision to fruition."

“I appreciate the commitment to meeting the needs of our community and applaud the efforts to make these projects a reality. Community venues like those included in this plan bring people together, whether we’re cheering for local teams, exercising, or enjoying an outdoor concert,” Representative Huff said. “I appreciate our local leadership and the Kentucky League of Cities for all the hard work that went on behind the scenes to make today possible. While we’re celebrating this announcement today, I’m looking forward to celebrating the grand opening when the project is complete.”

The Kentucky League of Cities administers the Kentucky Bond Corporation and other financial services for cities. The Corporation provides fixed-rate municipal bonds for general obligation or revenue-backed projects with no out-of-pocket fees. More than half of Kentucky communities have used KLC's programs to fund the construction of parks, fire stations, city halls, water parks, water and sewer systems, upgrade technology, and build infrastructure.

“This is what we are here for,” responded KLC Director of Corporate Law and Financial Services Robyn Miller. “To help our member cities succeed and develop facilities that residents can enjoy now and for generations to come.”