RESOLUTION NO.______, SERIES 2014
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A RESOLUTION APPROVING THE GRANTING OF LOCAL INDUCEMENTS TO KOROSEAL INTERIOR PRODUCTS, LLC AND ANY SUBSEQUENT ASSIGNEES OR APPROVED AFFILIATES THEREOF PURSUANT TO KRS CHAPTER 154, SUBCHAPTER 32.
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SPONSORED BY: Councilwoman Marianne Butler
WHEREAS, the Legislative Council of the Louisville/Jefferson County Metro Government (the Council) finds that it is a legitimate public purpose of the Louisville/Jefferson County Metro Government ("Metro") to undertake activities for the purpose of attracting and retaining jobs for residents of this community; and
WHEREAS, the Kentucky General Assembly in 2009 enacted KRS 154.32-010 to 154.32-100 establishing the Kentucky Business Investment Program ("KBI") for the purpose of encouraging the development and expansion of the service and technology industry in Kentucky; and
WHEREAS, this program provides state inducements to businesses which locate or expand in the Commonwealth, including regional or national headquarters, thus creating and preserving jobs for Kentuckians; and
WHEREAS, the program encourages local governments to participate in these inducements for businesses within their jurisdictions; and
WHEREAS, the Council finds that offering the local inducements authorized by KBI Program for the purpose of attracting and retaining businesses is in furtherance of the public purposes of Metro and will benefit Metro by creating new sources of tax revenue for the support of the public services provided by Metro; and
WHEREAS, KoroSeal Interior Products, LLC and any subsequent assignees or approved affiliates thereof has applied for the benefits authorized under the KBI Program.
NOW, THEREFORE, BE IT RESOLVED BY THE LEGISLATIVE COUNCIL OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT (THE COUNCIL) AS FOLLOWS:
Section 1: That the Council does hereby approve modifying an inducement grant to the following compa...
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