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The U.S. Department of Transportation (DOT) announced the award of a $616,000.00 “Rebuilding American Infrastructure with Sustainability and Equity” (RAISE) Planning grant to the City of Frankfort.
The RAISE Planning grant supports the revitalization of the Holmes Street Corridor, an economically-distressed area that serves as an entry to the community from the east and north. This DOT assistance will help the City to prepare for infrastructure improvements that will calm traffic, enhance pedestrian and biking opportunities, improve safety, promote economic development, and connect with previous TIGER-funded upgrades.
Frankfort Mayor Layne Wilkerson said, "Holmes Street is a diverse neighborhood of residential, commercial and industrial property and is an important entrance into the city that has fallen into disrepair. The RAISE grant will help the City understand how it can improve Holmes Street to attract new investment, jobs and residents. We are excited for this opportunity and thank our Congressional delegation, especially Senator McConnell and Congressman Andy Barr, for their leadership and support for this grant."
Laura Hagg, City Manager, responded, "We are pleased that the City of Frankfort was selected to receive the RAISE grant. The Holmes Street Corridor is a designated Opportunity Zone in Frankfort and this grant will allow us to plan how we can attract businesses, create jobs and improve safety and livability for residents in this key gateway to the city."
The Holmes Street Corridor encompasses 25 city blocks. Approximately 2 miles in length, the neighborhood is extremely diverse, with a mix of housing, commercial, and industrial uses. This area of disinvestment has significant potential, with large tracts of underutilized land. The Census Tract was designated as an Opportunity Zone. Frankfort’s comprehensive plan also identifies reconstruction of Holmes Street as a top priority.
The City of Frankfort received a $7.9 million Transportation Improvements Generating Economic Recovery (TIGER) construction grant for its Second Street Corridor in 2018. That project is currently under construction and is anticipated to be completed in late 2022.