Louisville Metro Government - File #: O-319-16

• File #: O-319-16
• Version: 1
• Type: Ordinance
• Status: Held in Committee
• File created: 8/22/2016
• In control: Budget Committee
• On agenda: 3/2/2017
• Final action: 2/16/2017
• Title: AN ORDINANCE AMENDING ORDINANCE NO. 102, SERIES 2016 AS PERTAINING TO THE 2016-2017 CAPITAL BUDGET FOR A NEW PROJECT TITLED 18TH AND BROADWAY WALMART PROJECT.

Date	Ver.	Action By	Action	Result
3/2/2017	1	Budget Committee
2/16/2017	1	Budget Committee	held
12/9/2016	1	Budget Committee	held
12/1/2016	1	Budget Committee	held
11/10/2016	1	Budget Committee	held
9/1/2016	1	Budget Committee	held
8/25/2016	1	Metro Council	assigned

Ordinance No. ____________, Series 2017

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AN ORDINANCE AMENDING ORDINANCE NO. 102, SERIES 2016 AS PERTAINING TO THE 2016-2017 CAPITAL BUDGET for a new project titled 18^th and broadway WalMart Project.

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SPONSORED BY: 

WHEREAS, Newbridge Development, LLC, a Kentucky limited liability company, (the “Developer”) plans to undertake a $30 million project to bring a major retail establishment to 18^th and Broadway (“Project”); and.

WHEREAS, the Legislative Council of the Louisville/Jefferson County Metro Government (the “Council”) strongly supports the establishment of a Walmart at 18^th and Broadway; and,

WHEREAS,                      the establishment of the Walmart store on 18^th and Broadway will provide an entire product base not currently available in West Louisville; and

WHEREAS, the Council finds the Project to be undertaken by the Developer will result in an increase in the value of property in the surrounding area, will result in increased employment opportunities for the area residents and will increase the tax base of Louisville;

WHEREAS, the Council has determined that based on the benefits to be derived from the Project that it is in furtherance of its public purposes to assist Developer with the costs of the Project and agrees to grant Two Hundred Fifty Thousand Dollars ($250,000) to the Developer to be used solely for street side improvements for the Project.

Now therefore be it ordained by the Legislative Council of the Louisville/Jefferson County Metro Government as follows:

SECTION I: Ordinance 102, Series 2016 Part I. Chief of Louisville Forward, M. Economic Development, is hereby amended as follows:

Number   Project Title                                                                                               Fund                                          Amount

                         18^th & Broadway Walmart Project                                           BOND                                          $250,000

SECTION II: Ordinance 102, Series 2016 Part I., H. Public Works & Assets is hereby amended as follows:

Number   Project Title                                                                                    Fund                                          Amount

   14                     Metro Street Improvements                                          

                     a.                                                                                                                              BOND                                          14,859,000                                          14,609,000

SECTION III: The Council has determined the funds requested in this ordinance will be expended for a public purpose.  Funds will not be disbursed until construction begins.

SECTION IV:  This Ordinance shall take effect upon its passage and approval.

_______________________________ H. Stephen Ott Metro Council Clerk

_____________________________ David Yates President of the Council

_______________________________ Greg Fischer Mayor

_____________________________ Approval Date

APPROVED AS TO FORM AND LEGALITY:

Michael J. O’Connell

Jefferson County Attorney

BY:  ____________________________