WMKY

Commonwealth of Kentucky Seeks Private Sector Developer

May 11, 2017

Credit kentucky.gov

The Kentucky Finance and Administration Cabinet posted the official notice stating the Commonwealth’s intent to pursue redevelopment of the Capital Plaza Tower Office Building, Fountain Place Shops, Frankfort Convention Center, and surrounding areas in downtown Frankfort, Ky.

The Commonwealth seeks to enter into a build-to-suit arrangement with a private sector developer for demolition and reconstruction. A build-to-suit allows the Commonwealth to leverage the expertise and financial wherewithal of the private sector to complete projects on an aggressive schedule.

The notice with more information on the project is posted at http://finance.ky.gov/services/eprocurement/pages/default.aspx. Click on the vendor self service (VSS) and active solicitations link, then click guest access. 

Developers interested in this project must submit a completed “Commonwealth of Kentucky Solicitation” form, which is part of the posted notice. If the completed solicitation form is not received by the buyer, the developer will not to be able to bid on the project.

Forms may also be obtained by contacting Commonwealth Buyer Nancy E. Brownlee via email at nancy.brownlee@ky.gov. The solicitation form must be submitted on or before 10:30 a.m. Wednesday, May 31, 2017. The request for proposal (RFP) will be sent to responsive developers on May 31 and will be posted on the Finance Cabinet’s website as well.

The Capital Plaza Tower complex is more than 40 years old with growing maintenance issues that have become a significant financial cost to the Commonwealth of Kentucky. After several studies, continued maintenance cost overruns, and potential safety issues, the Cabinet concluded the most effective solution is to replace current structures with new energy efficient and modern ones in a phased development.

Additional information is available online at http://finance.ky.gov/.

Story provided by: Kentucky.gov