Fort Mitchell is planning to dissolve the city’s Economic Development Authority. It was created for the Tax Increment Financing district in conjunction with the Kentucky Gateway Project.
Since the financing, known as a TIF, agreement has been renegotiated and amended, the authority no longer serves a purpose.
“[The Economic Development Authority] was originally created in October 2014 as a function of and specifically for the original TIF for the old Drawbridge site,” City Administrator Edwin King told LINK nky.
King explained that when the city amended the TIF agreement, they opted to allow project staff to come straight to the city administration with questions and concerns. Previously, the authority acted as an intermediary. The new agreement makes that committee obsolete.
“This allows us to operate at the speed of business,” King said. “The committee hasn’t met in years, and it is no longer needed.” Construction on the Drawbridge Inn site began in late 2024.