The City of Erlanger became the second municipality in Kenton County to receive money from the recently created Community Redevelopment Fund.
The Kenton County Fiscal Court approved a memorandum of agreement on June 24, allocating $1.3 million to Erlanger from the county’s Community Redevelopment Fund. As part of the agreement, Erlanger agreed to provide a matching contribution equal to at least $145,000.
“We want to make sure that this partnership continues,” Kenton County Judge/Executive Kris Knochelmann said.
Erlanger’s Economic Development Director Mark Collier described the agreement process as “seamless.”
“This has been very seamless,” he said. “Mayor (Jessica) Fette wanted me to pass along that she’s very appreciative, as is our council, with how this is going, and we’re going to put it to good use.”
The Community Redevelopment Fund offers financial support to cities across Kenton County for redevelopment projects that have the potential to positively impact local businesses and stimulate job growth. The fund is financed by a $5 million budgetary allocation from the Kentucky General Assembly, which the legislative body approved in 2024 as part of its biennial budget.
Kenton County guidelines stipulate that eligible projects should focus on property development, including acquisition, renovation, site preparation or right-of-way improvements. Funding proposals must be submitted by a city’s mayor in consultation with its legislative body. The city is required to prove it can match 10% of any funding awarded.
If specific projects do not fall under the county’s eligibility criteria, they will be vetted by the Planning and Development Services of Kenton County’s Community Development Department for potential adjustments.
Erlanger’s contract states explicitly that the allocated amount and matching contribution must be used to acquire and develop an underperforming real estate asset within the city’s jurisdiction with the goal of redeveloping it into a productive asset.
Furthermore, the city has 36 months from the date of the agreement to use the allocated amount. Any unused funds must be returned to Kenton County. As of now, Erlanger has not yet reported any selected properties for redevelopment.
With just over 20,000 residents, Erlanger is Northern Kentucky’s fourth-largest city and the third-largest in Kenton County. Its proximity to Cincinnati/Northern Kentucky International Airport and Interstate 75 makes it a crucial hub for the region’s manufacturing and logistics industries.
In March, Kenton County entered into a partnership with The Catalytic Fund to develop the selection criteria for project proposals, establish a uniform application process, create quarterly status reports, and collaborate with the county on proposal evaluations and monetary allocation.
The Catalytic Fund is a Covington-based, private-sector, not-for-profit organization that provides non-traditional financing and property development advisory services in Northern Kentucky. The organization spearheaded several high-profile redevelopment projects in the region’s river cities, including the Kent Lofts in Bellevue, Hotel Covington, and Life Learning Center in Covington.
The organization has invested over $450 million in Northern Kentucky since its founding in 2013, preserving over 90 historic buildings, according to its website.
Earlier this year, the City of Independence became the first in Kenton County to receive funding from the Community Redevelopment Fund, following the approval of a $900,000 agreement by the fiscal court. Independence agreed to use $100,000 of its own money as part of a matching contribution.
