Glasgow Approves Financial Incentives for Property Developer

By Allyson Dix, Managing Editor/Barren County Progress

After lengthy discussion and an attempt to table the item, the Glasgow City Council approved 8-1 a municipal order on Monday night that will provide financial incentives for a developer planning a housing unit on Cleveland Avenue.

The order allows the city to issue and sale up to $16,000,000 in industrial revenue bonds for Scenic Lake Apartments, a planned 120-unit housing project between Olivia Drive and Forrester Road on the left side of Cleveland Avenue leaving Glasgow. The property sits in proximity of the city-owned property often referred to as the Johnson Farm.

Scenic Lake Apartments is a real estate endeavor by Little T, LLC. Similar, but smaller, units have been constructed by Little T, LLC in other towns such as Elizabethtown, Russellville, and Franklin. The housing unit would be designed for the senior population with around $800 rent, according to one of the developers.

City Attorney Rich Alexander read a summary of the order and explained some of the details. Following its approval, the order will direct the developers and the city to finalize bond documents to include lease, bond purchasing, and PILOT agreements.

PILOT, or payment in lieu of taxes, is an incentive used that allows developers to avoid paying traditional property taxes and instead pay a set amount until the bond has retired. Until the bond is retired, or repaid, the city will hold the title to the property.

Alexander said the process requires input from developers and lenders, and that the developer has already closed with Cecilian Bank on their finances.

“What happens is it’s a little bit different than a commercial bond issance,” Alexander said. “The developers have their finances in place, the financing will actually purchase the bonds, and the bonds will be paid when the debt they’ve secured is paid.”

Alexander said there is no liability on the city for paying any of the bond obligations. Councilman Terry Bunnell would later state the city is a “conduit” for the developers to build.

The General Assembly passed in April the ability for projects such as this to utilize industrial revenue bonding.

Developers Mark Harris and Kerry Pulliam were both in attendance and spoke on the matter.

While the development plan was approved by the Joint City-Council Planning Commission back in September 2023, the developers said they let that lapse with the climbing costs to build. Typically, according to JCCPC Director Kevin Myatt, a one-year extension isn’t uncommon and Little T, LLC returned in October 2025 to start the effort back.

One of the developers said construction was stalled because without the cash flow, they couldn’t make it work, leading them to pursue the new state-passed financial incentives. These incentives would allow them to put the project into action.

Councilmembers had many questions about the issue ranging from the PILOT to the design and upkeep of the property.

One of the concerns voiced by Councilman Randy Wilkinson was the fact that local builders weren’t aware of the incentive.

Councilman Joe Trigg voiced support for the project, especially with a need for housing, but supported fellow Councilwoman Marna Kirkpatrick’s request to table the matter until the next meeting.

Kirkpatrick and Trigg both voiced with it being a new type of incentive, more time to review and learn about it would be helpful; however, even with a two-week delay, the document for the council’s consideration would be the same.

The motion to table the item failed to pass in a 3-6 vote, with Wilkinson, Trigg, and Kirkpatrick voting to table it. Then, the municipal order passed 8-1, with Kirkpatrick being the only dissenter.

Glasgow Mayor Henry Royse said there is a housing shortage of 206,000 homes across Kentucky.

“The state, in their wisdom, says we gotta figure out someway to inspire people to build housing that’s affordable…the industrial bonds help that happen,” Royse said.

Royse told the Barren County Progress after the meeting, “It goes without saying, we would like to help any local builder who could develop a project like this in accordance with the new Kentucky legislation. We are proud to know Glasgow is able to take advantage of it.”