Diamond Point Foundation enters in agreement to sell property
Diamond Point will soon have a new owner. The Board of Directors for the Diamond Point Foundation has entered into an agreement to sell the property to the Harrodsburg Mercer County Tourist Commission.
Citing that financial constraints prompted the sale of Diamond Point, Executive Director Julie Wagner states, “We are pleased to enter into this agreement with the Harrodsburg Mercer County Tourist Commission. The property will be in good hands and we are confident that the Tourist Commission will preserve and protect this historic icon.”
A combination of local, state and federal dollars were used in the restoration of Diamond Point. Federal funds of approximately $570,000 require that the property remain open to the public and must house a visitor’s center in perpetuity. The use of both state and federal funds also required that a preservation easement be placed on the deed to ensure that the property is protected from damaging alterations.
Wagner said, “Our staff and committees look forward to focusing our energy on the continued growth and enhancement of the downtown and we are excited about the future.”
Proceeds from the sale will be reinvested back into the downtown district in such a manner as to continue the growth and development of the district. Once the property has transferred ownership, the board will create a process and plan for how these dollars will be used.
Transfer of property is expected to take place in January 2015.
# # # # #