James Graham Brown Foundation doubles $1M pledge
LOUISVILLE, Ky. (June 28, 2016) — The West Louisville FoodPort is two-thirds of the way to reaching its fundraising goal of $9 million.
Seed Capital Kentucky in March took ownership of the property at 30th and Muhammad Ali Blvd. through a development agreement with the City of Louisville Metro and is currently working toward a groundbreaking goal of early fall. The initial phase invests more than $56 million in West Louisville and will hire more than 200 community residents for permanent jobs and 150 temporary construction jobs. A community council with more than 125 members works directly with Seed Capital Kentucky on developing the project.
Last week the James Graham Brown Foundation board of trustees announced it would double its support of the project, pledging a $1 million challenge grant.
Other recently awarded grants include $125,000 from the Jewish Heritage Fund for Excellence, $500,000 from a private donor and $250,000 from Eleanor Bingham Miller to support farmer-specific “grange hall” components of the FoodPort. Other sources of financing for the project include New Markets Tax Credits and debt.
The James Graham Brown Foundation was among the first funders, with a $1 million gift to support the project in 2015.