FRANKFORT, Ky. (July 25, 2016) – The United States Equestrian Federation Inc. and the Kentucky Tourism, Arts & Heritage Cabinet today announced a letter of intent for the construction of a building at the Kentucky Horse Park that will serve as the national headquarters of the USEF. The USEF and the Kentucky Horse Park intend to enter into a 40-year lease on three acres, which includes the grant of an option in favor of the USEF to extend the lease for an additional 40 years at the conclusion of the initial 40-year term.
The parties anticipate that following completion of due diligence by the USEF and finalization of the lease document, construction of the two-story, approximately 35,000 s.f. office building will begin in the 4th quarter of 2017.
The USEF is the national governing body as designated by the United States Olympic Committee for equestrian sports in the United States. The USEF currently leases office space inside a building located at the Kentucky Horse Park, the lease expires at the end of 2019. The USA Equestrian Trust, Inc., a separate entity from the USEF, owns the current building.
“We believe the Kentucky Horse Park is the world’s premier equestrian facility,” said Don Parkinson, secretary of the Tourism, Arts and Heritage Cabinet. “Our continued partnership with the USEF confirms and enhances our state’s commitment to the equine industry for generations to come. On behalf of Gov. Matt Bevin, we want to thank Bill Moroney, CEO of the USEF, and Tandy Patrick, the chairperson of the Kentucky Horse Park Commission, for their vital role in strengthening this great business relationship.”
“The Horse Park Commission is delighted that the USEF’s headquarters will remain at the Kentucky Horse Park”, said Tandy Patrick, chairperson of the Kentucky Horse Park Commission. “The USEF has served as a major catalyst for the location of more than 30 horse organizations at the Kentucky Horse Park, and we look forward to expanding our partnership with the USEF in the future.”
“The Kentucky Horse Park and the USEF share a common goal of bringing joy to equestrianism and we are pleased that USEF has chosen to remain at the park,” said Laura Prewitt, executive director of the Kentucky Horse Park. “We are grateful for the USEF’s commitment to the Kentucky Horse Park.”
The USEF determined that the construction of a new building was more economically beneficial to the USEF membership as the USEF is paying above market price for their current lease. It is expected that the new building will generate hundreds of thousands of dollars per year in cost savings to the USEF which can be used to increase access in and generate higher participation of equestrian sports.
“We are so pleased by the support of the Kentucky Horse Park Commission, the Tourism, Arts and Heritage Cabinet and the Governor’s office in ensuring that the United States Equestrian Federation continues to maintain its headquarters at the Kentucky Horse Park,” Moroney said. “We look forward to working with them to develop a new headquarters that will responsibly serve our members and bring the joy of horse sports to the many people who come to the Kentucky Horse Park.”
All permits, construction approval and funding for the construction will be paid for by the USEF. The Tourism, Arts, & Heritage Cabinet, which oversees the Kentucky Horse Park, and the Kentucky Horse Park Commission will review and approve the exterior design of the new USEF building prior to construction.
The Kentucky Horse Park, located in Lexington, Kentucky, is a 1,229-acre equestrian facility dedicated to “man’s relationship with the horse.” Each year the park is host to a number of high profile events and horse shows. The park is home to the International Museum of the Horse, the most comprehensive museum in the world dedicated to exploring the important history of all horses and their impact on human civilization.