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President Tandy requests Cordish Company release documents on 4th St. Live Renovations

Thursday July 16, 2009

For Immeidate Release:
Office of the President
Louisville Metro Council
Contact: Tony Hyatt 574-4137/526-3622

Metro Council President David Tandy (D-4) has sent a letter to the Cordish Company requesting release of all financial documentation on its recent renovations at Fourth Street Live.

Here is the text of the letter

Blake Cordish
The Cordish Company

Dear Mr. Cordish,

On June 25th, the Council passed the FY 2009-2010 budget for Louisville Metro Government. This year, the budget was our most difficult one yet and many agencies saw reductions in funding as a result of the economy. Additionally, we laid off over 100 employees and eliminated hundreds of other positions. Also earlier this year, the Metro Council passed an etransparency ordinance which eventually will show all metro government spending on line for review by the public. In the spirit of open government and cooperation, I am requesting that the Cordish Company release all financial documentation on its recent renovations at Fourth Street Live.

While I believe that Fourth Street Live has been a successful venture for our community it is important for the Cordish Company, and for that matter any other company or entity that receives public funds to clearly demonstrate how taxpayer dollars are being used. There is serious public concern over the use of the $950,000 loan that funded the renovation of this recent project. Many times, suspicions grow when information is with held about any aspect of government spending of tax dollars. Releasing this documentation will go a long way in showing how taxpayer dollars are being used and how they are helping to make Louisville a destination point for people from around the country.

Thanks for your attention to this matter and feel free to contact me if you have any questions.

Very truly yours,

David W. Tandy

President, Louisville Metro Council

Sponsor:
David Tandy (D) 4