LOUISVILLE, Ky. – Kentucky Association of Health Plans (KAHP), the trade association representing all commercial insurers and Medicaid managed care organizations in the commonwealth, today announced a $500,000 donation to the West End Opportunity Partnership.
Metro Louisville has made a budget allocation of $10 million for the partnership. The $10 million is being raised from the community to unlock a $10 million state match for a total of $30 million in seed funding.
“A focus for our organization is the social determinants of health, the non-medical factors that influence health outcomes,” said KAHP Executive Director Tom Stephens. “Economic opportunity is fundamental to eliminating longstanding inequities and we believe the Partnership’s investments can be a real catalyst.”
For the next 20 years, 80% of new tax revenues generated in the West End neighborhoods of Algonquin, California, Chickasaw, Park Duvalle, Park Hill, Parkland, Portland, Russell and Shawnee will go to the partnership to invest in economic development projects and homeowner stabilization.
The partnership board, comprised of neighborhood residents and appointees from community organizations, will manage the proceeds and make strategic economic development investments in the West End. Potential areas of emphasis include loans to new and existing businesses, environmental cleanup, financing for more affordable rental units, home improvements and more.
“The partnership board is appreciative of KAHP’s commitment to improving the health of Kentuckians, especially those in the West End,” said Louisville Metro Council President and West End Opportunity Board Chairman David James. “With the right investments, we can help foster financial empowerment and generational wealth in the nine neighborhoods.”
Under the state statute, homeowners and their heirs in the Partnership zone are shielded from rising property taxes via a refundable tax credit for increases above their assessed 2021 level.
Kentucky Association of Health Plans is the trade organization representing the Kentucky health insurance community. KAHP is a leader on issues that strengthen the accessibility, value, and quality of healthcare in the Commonwealth. Members include Aetna, Anthem, CareSource, Humana, Passport Health Plan by Molina Healthcare, UnitedHealth Group and WellCare. For more information, visit: www.kahp.org or follow @kyhealthplans on Twitter.