RESOLUTION No. __________, Series 2017
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A RESOLUTION AUTHORIZING THE MAYOR AND LOUISVILLE FORWARD TO APPLY TO THE COMMONWEALTH OF KENTUCKY FOR AN ECONOMIC DEVELOPMENT GRANT FOR THE BENEFIT OF RES-CARE, INC., IN THE AMOUNT OF $500,000 AND TO ACCEPT SAID GRANT IF AWARDED. (AS AMENDED).
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Sponsored By: Council Member Bryant Hamilton
WHEREAS, pursuant to KRS 154.10-030(11), the Kentucky Economic Development Finance Authority has the authority to make economic development grants;
WHEREAS, Louisville/Jefferson County Metro Government (“Louisville Metro”) wishes to apply on behalf of Res-Care, Inc. to the Kentucky Economic Development Finance Authority (“KEDFA”) for certain incentives, including an Economic Development Grant in the amount of $500,000 (”Grant”), to induce Res-Care, Inc. to renovate its construct a new facility in Louisville and to retain at least 310 full-time jobs for Kentucky residents (excluding contract employees); and
WHEREAS, if Louisville Metro is awarded the Grant, KEDFA will pay the Grant to Louisville Metro, acting by and through Louisville Forward, which will administer the Grant to Res-Care, Inc.
BE IT RESOLVED BY THE LEGISLATIVE COUNCIL OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT (THE COUNCIL) AS FOLLOWS:
SECTION I: That the Mayor and appropriate officials and employees of Louisville Forward are authorized to submit to KEDFA an application for an economic development grant not to exceed $500,000 in order to induce Res-Care, Inc. to renovate its construct a new facility in Louisville and to retain at least 310 full-time jobs for Kentucky residents (excluding contract employees).
SECTION II: That the Mayor is authorized to accept the Grant from KEDFA if it is awarded and administer it to Res-Care, Inc. pursuant to such terms as KEDFA may determine.
SECTION III: That the Mayor and appropriate officials and employees of Louisville Forward are hereby authorized to sign the application, Grant agreement, affidavits, statement of assurances and such other agreements or documents necessary to apply for, receive and implement the Grant as authorized by this Resolution.
SECTION IV: This Resolution shall take effect upon its passage and approval.
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_______________________________ H. Stephen Ott Metro Council Clerk |
_____________________________ David Yates President of the Council |
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_______________________________ Greg Fischer Mayor |
_____________________________ Approval Date |
APPROVED AS TO FORM AND LEGALITY:
Michael J. O’Connell
Jefferson County Attorney
BY: ____________________________
Amended $500k KCED Grant to Res-Care, Inc. R-136-17.docx