KENTUCKY HORSE PARK SIGNS UNITED STATES EQUESTRIAN FEDERATION TO GROUND LEASE AT THE NATIONAL HORSE CENTER
The United States Equestrian Federation, Inc. (US Equestrian) and the Kentucky Tourism, Arts & Heritage Cabinet are pleased to announce that the Kentucky Horse Park Commission and US Equestrian have signed a 40-year ground lease on three acres of land, which includes the grant of an option to extend the lease for an additional 40 years at the conclusion of the initial term.
The lease allows US Equestrian to construct a two-story, approximately 35,000 square-foot office building and include surrounding parking, landscaping and signage. The national governing body for equestrian sports in the United States, US Equestrian currently leases office space inside a building located at the park owned by USA Equestrian Trust, Inc., with a term expiring at the end of 2019.
“As the governing body that oversees the internationally competitive United States Equestrian Team, including at the Olympic Games, US Equestrian is the anchor for many other industry-related businesses at the park. We are elated that they have made this long-term commitment with the Kentucky Horse Park,” said Don Parkinson, secretary of the Tourism, Arts and Heritage Cabinet. “This long-term partnership with US Equestrian reflects and strengthens Kentucky’s dedication not only to our equine industry but also to the diverse and growing segments of horse sport.”
“Given the park’s outstanding facilities and US Equestrian’s position as the governing body for horse sport in the United States, it is mutually beneficial to have this organization headquartered at the park’s National Horse Center,” said Tandy Patrick, chairperson of the Kentucky Horse Park Commission. “The park is home to a growing calendar of diverse horse shows and competitions throughout the year, and is the home of more than 30 national, regional and state equine organizations, most of whom fall under the jurisdiction of US Equestrian, and benefit from its advocacy for the betterment of the sport horse industry.”
Ownership of the new building is expected to generate cost savings to US Equestrian which can be used to further the organization’s other programs for its 100,000 members across the United States.
“I am delighted to have reached an agreement for US Equestrian to stay in the Kentucky Horse Park in a new state-of-the-art headquarters building,” said Murray Kessler, president of US Equestrian. “This building will help us to bring the joy of horse sports to as many people as possible by providing a considerable cost savings for our members. At the same time, it will create a more efficient and effective environment for our staff to support its membership and maintain close proximity to many affiliates and US Equestrian licensed competitions.”
“US Equestrian’s decision to remain at the park’s National Horse Center is a confirmation that they are confident in, and dedicated to, Kentucky’s role in equestrian sport,” said Laura Prewitt, executive director of the Kentucky Horse Park. “We look forward to continually expanding our partnership as this proximity of opportunity and talent allows.”
All permits, construction approval and funding for the construction will be paid for by US Equestrian. The Tourism, Arts, & Heritage Cabinet, which oversees the Kentucky Horse Park, and the Kentucky Horse Park Commission will review and approve the exterior design of the new building prior to construction.