RESOLUTION NO. ______, SERIES 2022
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A RESOLUTION DETERMINING CERTAIN PROPERTY AT 664 SOUTH FIFTH STREET AS SURPLUS AND NOT NEEDED FOR A GOVERNMENTAL PURPOSE AND AUTHORIZING ITS TRANSFER.
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SPONSORED BY: COUNCIL MEMBER JECOREY ARTHUR
WHEREAS, according to KRS Chapter 67C 101, Louisville/Jefferson County Metro Government ("Metro Government") may sell any real property belonging to Metro Government;
WHEREAS, Section 1(A) of Executive Order No. 2, Series 2011 of the Mayor, which adopts Section 2(C) of Executive Order No. 3, Series 2007, provides that the Metro Government may sell and convey surplus real estate upon declaration by the Legislative Council of Louisville/Jefferson County Metro Government ("the Council") that such property is no longer needed for the governmental purposes of Metro Government;
WHEREAS, the Council previously approved the issuance of the Industrial Revenue Bonds Series 2001 A (Gannett Kentucky Limited Partnership Project) (the "Bonds"), pursuant to Ordinance No. 10, Series 2001, which resulted in the transfer of 667 Armory Place (the "Armory Place Property") to Metro Government during the term of the Bonds, with Armory Place Property to be conveyed back to Gannett Kentucky Limited Partnership ("GKLP") once the Bonds were paid off;
WHEREAS, subsequent to the issuance of the Bonds and the conveyance of Armory Place Property to Metro Government, property located at 664 South Fifth Street, and more particularly described in Exhibit A to this Resolution (the "Property"), surrounded on three sides by the Armory Place Property, and bounded on the fourth side by South Fifth Street, was acquired by Gannett Satellite Information Network, Inc. ("GSIN"), which is a related entity to GKLP;
WHEREAS, the Property was then transferred by GKLP to Metro Government pursuant to a Deed of record in Deed Book 8032, Page 432, in the Office of the Clerk of Jefferson County, Kentucky (the "Property Deed");
WHEREAS, the...
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