Budget Committee Special Meeting: June 22, 2026 - Bond Issuance, FY26-27 Budgets, and Property Tax Amendments
Budget Committee Special Meeting: June 22, 2026 - Bond Issuance, FY26-27 Budgets, and Property Tax Amendments
The Louisville Metro Budget Committee held a special meeting on June 22, 2026, from 3:01 PM to 4:00 PM, chaired by Kevin Kramer (R-11). Nine of ten committee members were present (Mulvey-Woolridge excused). The committee considered four ordinances: a $750 million Norton Healthcare bond issuance, a property tax classification ordinance, the FY 2026-2027 operating budget, and the capital budget. All were recommended for approval with amendments where applicable.
Consent Calendar
- O-174-26: Authorized issuance of up to $750 million in Health System Revenue Bonds for Norton Healthcare. $600 million for refinancing, $150 million for new capital projects (Central Pharmacy, downtown campus renovations, Norton Women's and Children's, etc.). Conduit debt with no Metro liability. Recommended unanimously (9-0) and sent to the Consent Calendar.
Discussion Items
- O-169-26 (Property Tax Subclassifications): Establishes authority to create separate tax rates for land and improvements within the Urban Services District, intended to incentivize development. Sponsored by Piagentini and Owen. Committee vote 8-0-1 (Chappell present). Sent to Old Business.
- O-175-26 (FY 2026-2027 Operating Budget): Amended to include administration-requested adjustments (e.g., corrections grant reduction of $1M, CDBG allocation changes, transfer of housing division staff with 22 positions) and council additions (e.g., $500,000 to rainy day fund, $500,000 for Housing Finance Agency startup, various community allocations for arts, violence prevention, social services). Amended version passed 8-1 (Chappell opposed). Sent to Old Business.
- O-176-26 (FY 2026-2027 Capital Budget): Amended to include redistribution of $2.6M from Capital Infrastructure Fund, reduction of $5M for Belvedere project, addition of golf course agronomic improvements ($1.26M), and numerous district-specific infrastructure projects (parks, sidewalks, traffic calming, public art). Amended version passed 8-1 (Chappell opposed). Sent to Old Business.
Key Outcomes
- All four ordinances were recommended for approval by the Budget Committee.
- Votes: O-174-26 (9-0); O-169-26 (8-0-1); O-175-26 (8-1); O-176-26 (8-1).
- The recommended ordinances will be considered by the full Metro Council on June 25, 2026.
- Notable: The operating budget includes a requirement for a review of the external agency panel process with potential elimination. The capital budget prioritizes library books and golf course improvements for mid-year funding.
Meeting Transcript
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