Louisville Metro Government - File #: R-085-17

• File #: R-085-17
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 6/22/2017
• In control: Labor and Economic Development Committee
• On agenda: 8/10/2017
• Final action: 8/10/2017
• Title: A RESOLUTION APPROVING THE GRANTING OF LOCAL INCENTIVES TO AAK USA K2, LLC, AND ANY SUBSEQUENT ASSIGNEES OR APPROVED AFFILIATES THEREOF, PURSUANT TO KRS CHAPTER 154, SUBCHAPTER 32.
• Sponsors: Cheri Bryant Hamilton (D-5)

Date	Ver.	Action By	Action	Result
8/10/2017	1	Metro Council	adopted	Pass
8/1/2017	1	Labor and Economic Development Committee	recommended for approval	Pass
7/27/2017	1	Metro Council	assigned

RESOLUTION NO.______, SERIES 2017
TITLE
A RESOLUTION APPROVING THE GRANTING OF LOCAL INCENTIVES TO AAK USA K2, LLC, AND ANY SUBSEQUENT ASSIGNEES OR APPROVED AFFILIATES THEREOF, PURSUANT TO KRS CHAPTER 154, SUBCHAPTER 32.
BODY
SPONSORED BY: COUNCIL MEMBER BRYANT HAMILTON

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 (the "Act") establishing the Kentucky Business Investment Program (the "KBI Program") for the purpose of encouraging the development and expansion of the service and technology industry in Kentucky; and
WHEREAS, the KBI Program provides state incentives to businesses which locate or expand in the Commonwealth, including regional or national headquarters, thus creating and preserving jobs for Kentuckians; and
WHEREAS, the KBI Program encourages local governments to participate in these incentives for businesses within their jurisdictions; and
WHEREAS, the Council finds that offering the local incentives 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;
WHEREAS, AAK USA K2, LLC has applied for the benefits authorized under the KBI Program; and
WHEREAS, AAK USA K2, LLC, in applying for the benefits authorized under the KBI Program, agreed to comply with Metro's requested goal of hiring at least 50% of the new employees from CDBG-eligible areas in West Louisville neighborhoods surrounding the AAK facility;
NOW, THEREFORE, BE IT RESOLVED BY THE LEGISLATIVE COUNCIL OF THE LOUI...