louisville ky waterfront parkThe Courier-Journal has reported that Louisville Waterfront Park has lost $420,000 in annual funding. The downtown park board is cutting expenses and scouring for additional sources of funds.

Waterfront Development Corp. Executive Director David Karem cites several major changes in the budget due to the loss. Layoffs and security cuts are being avoided as best as they can. A number of major events, including Abbey Road on the River, the Forecastle Festival, Kentucky Derby Festival, and others will not be affected.

Louisville Waterfront Budget Cuts

  • $79,000 Fourth of July Independence Festival dropped
  • $32,000 Karem 15 percent pay cut to salary and benefits
  • $46,000 16 staff members foregoing 2 percent raise due to most city employees
  • $40,000 Reduction in maintenance, equipment, scenery, and Thunder Over Louisville party

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