The New Albany City Council will Thursday consider a capital development bond for the Clark/Floyd Counties Convention and Tourism Bureau. The city says the bond will be funded through an $825,000 grant awarded to the city earlier this year and will support the New Albany Visitor and Historic Generator Project.
The city applied for and received the grant in July in partnership with the Culbertson Mansion, which is undergoing several restoration projects. More than $230,000 of the bond will be used toward the full restoration of the historic home’s original cast iron.
The city also plans to use the funds for a variety of upgrades along the Ohio River, including a new boat ramp, boat docks, additional picnic areas, increased walking and running trails, as well as updates to the historic Loop Wetlands. The city’s goal is to promote tourism through the projects.
"This generous gift from the Tourism Bureau will help restore one of our most historic properties, the Culbertson Mansion," New Albany Mayor Jeff Gahan said in a news release. “In addition, the city will continue working towards connecting our citizenry back to our river heritage, and will provide opportunities for everyone to enjoy our Riverfront Greenway.”
The Culbertson Mansion was constructed in 1867 and named a State Historic Site in 1976.
Additionally, the council will consider the refinancing of three outstanding bonds, which it says will save approximately $220,000 per year. That proposal was approved earlier this week by the New Albany Redevelopment Commission.