A significant development emerged during the Lexington Urban County Council meeting on June 12, 2025, as council members discussed a crucial resolution regarding the sale of approximately 19.61 acres of the Coldstream Research campus. The proposed sale, valued at around $225,000 per acre, aims to facilitate a partnership with SFG Properties LLC, allowing for future development in the area.

Council member Baxter introduced the resolution, which authorizes the mayor or her designee to execute a letter of intent and a purchase and sale agreement for the property. This move is seen as vital for advancing the project, with the council needing to act swiftly to prevent the expiration of the letter of intent, which would prompt SFG Properties to seek alternative sites.

During the discussion, council member Morton raised concerns about the lack of prior communication regarding the sale during a recent presentation on Coldstream. The response clarified that final details were still being negotiated, and the industrial authority had only voted on the matter earlier that day. The urgency of the situation was emphasized, as the company is eager to begin due diligence on the site.

The council ultimately passed the motion, allowing the project to move forward. This decision is expected to have significant implications for development in Lexington, potentially enhancing economic growth and innovation in the region. As the council anticipates further steps, the timeline for the grant application process was also highlighted, with awards expected by the end of the year, paving the way for future funding opportunities.