The City of Taylor Mill became the third city to partner with Kenton County on its Community Redevelopment Fund.
On Tuesday, the Kenton County Fiscal Court approved allocating $805,500 from the Community Development Fund to Taylor Mill, supporting property development within the area.
Additionally, Taylor Mills approved its local contribution on Wednesday. Taylor Mills has 36 months to utilize the resources, with any remaining funds to be returned to Kenton County.
Taylor Mill joins Independence and Erlanger as cities that have received funding.
“This is the third time we’ve put the Community Redevelopment Fund to work, and each project shows how these dollars can transform good ideas into tangible community assets,” Kenton County Judge/Executive Kris Knochelmann said in a news release. “We’re excited to see Taylor Mill take advantage of this opportunity to build something lasting for their residents.”
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.
“This partnership is all about creating opportunities, boosting local business and making our neighborhoods even better places to live, work and connect,” Taylor Mill Dan Bell said in the release. “The commission is grateful the Fiscal Court shares the City’s vision for the economic vitality of Taylor Mill.”
In March, Kenton County entered into a partnership with The Catalytic Fund to develop 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.
