It has been reported that the Urban County Council in Lexington, Kentucky last night approved an ordinance to establish the Red Mile Development Area, which could pave the way for the erection of a proposed $190 million expansion of the existing location

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According to an article by the Lexington Herald-Leader, the move will allow a developer to apply to the state for $54 million in tax-increment funding.

The $190 million proposed development would see restaurants, retail and condominiums built on part of the Red Mile standardbred racetrack property on Red Mile Road.

(With files from the Lexington Herald-Leader)