Louisville Metro Government - File #: O-002-15

• File #: O-002-15
• Version: 2
• Type: Ordinance
• Status: Passed
• File created: 1/5/2015
• In control: Metro Council
• On agenda: 1/22/2015
• Final action: 1/22/2015
• Title: AN ORDINANCE AMENDING ORDINANCE NO. 179, SERIES 2007 IN ORDER TO AMEND THE BOUNDARIES OF THE CENTRAL DOWNTOWN REVITALIZATION DISTRICT DEVELOPMENT AREA, APPROVING ENTERING INTO A SECOND AMENDED AND RESTATED LOCAL PARTICIPATION AGREEMENT, REDUCING THE AMOUNT OF THE MINIMUM CAPITAL INVESTMENT DECLARING CERTAIN PROPERTIES SURPLUS AND AUTHORIZING THEIR SALE AND AUTHORIZING THE EXECUTION AND DELIVERY OF ANY OTHER DOCUMENTS AND THE TAKING OF ANY OTHER ACTIONS NECESSARY TO ACCOMPLISH THE PURPOSE AUTHORIZED BY THIS ORDINANCE AND AMENDING ORDINANCE NO. 102, SERIES 2014 RELATING TO THE FISCAL YEAR 2014-15 OPERATING BUDGET FOR THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT, BY AUTHORIZING AN ADDITIONAL APPROPRIATION TO THE OFFICE OF MANAGEMENT AND BUDGET IN ACCORDANCE WITH A CERTAIN DEVELOPMENT AGREEMENT ENTERED INTO JULY 5, 2001, AS AMENDED, AND AUTHORIZING THE CHIEF FINANCIAL OFFICER TO ENTER INTO A LINE OF CREDIT NOT TO EXCEED $2,250,000 TO MEET CERTAIN CONTRACTUAL OBLIGATIONS. (AS AMENDED)
• Sponsors: Marianne Butler (D-15), Jim King (D-10), David Tandy (D-4)

Date	Ver.	Action By	Action	Result
1/22/2015	1	Metro Council	passed	Pass
1/12/2015	1	Ad Hoc Committee on Budget	recommended for approval
1/12/2015	1	Ad Hoc Committee on Budget	amended	Pass
1/12/2015	1	Ad Hoc Committee on Budget	recommended for approval	Pass

ORDINANCE NUMBER ____, SERIES 2015
title
AN ORDINANCE AMENDING ORDINANCE NO. 179, SERIES 2007 IN ORDER TO AMEND THE BOUNDARIES OF THE CENTRAL DOWNTOWN REVITALIZATION DISTRICT DEVELOPMENT AREA, APPROVING ENTERING INTO A SECOND AMENDED AND RESTATED LOCAL PARTICIPATION AGREEMENT, REDUCING THE AMOUNT OF THE MINIMUM CAPITAL INVESTMENT DECLARING CERTAIN PROPERTIES SURPLUS AND AUTHORIZING THEIR SALE AND AUTHORIZING THE EXECUTION AND DELIVERY OF ANY OTHER DOCUMENTS AND THE TAKING OF ANY OTHER ACTIONS NECESSARY TO ACCOMPLISH THE PURPOSE AUTHORIZED BY THIS ORDINANCE AND AMENDING ORDINANCE NO. 102, SERIES 2014 RELATING TO THE FISCAL YEAR 2014-15 OPERATING BUDGET FOR THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT, BY AUTHORIZING AN ADDITIONAL APPROPRIATION TO THE OFFICE OF MANAGEMENT AND BUDGET IN ACCORDANCE WITH A CERTAIN DEVELOPMENT AGREEMENT ENTERED INTO JULY 5, 2001, AS AMENDED, AND AUTHORIZING THE CHIEF FINANCIAL OFFICER TO ENTER INTO A LINE OF CREDIT NOT TO EXCEED $2,250,000 TO MEET CERTAIN CONTRACTUAL OBLIGATIONS. (AS AMENDED)
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SPONSORED BY: Council President Jim King, Councilman David Tandy, Councilwoman Marianne Butler


WHEREAS, KRS 65.7041-65.7083 and KRS 154-30.010-154.30.090 ("Act") authorizes the Signature Project Program to encourage private investment in the development of major projects which will have a significant impact within the Commonwealth; and

WHEREAS, this Council in Ordinance No. 179, Series 2007, enacted on September 13, 2007 ("Establishment Ordinance"), established the Central Downtown Revitalization District Development Area ("District") and authorized the release of certain incremental local tax revenues ("Released Taxes") to benefit the project to be constructed within the District pursuant to the terms of the Act and the Establishment Ordinance; and

WHEREAS, Louisville Metro and Metro Development Authority, Inc. ("MDA") entered into an amended and restated local participation agreement dated December 6, 2007 ("Local...