RESOLUTION NO. ______, SERIES 2017
A RESOLUTION DETERMINING ONE (1) PARCEL OF REAL PROPERTY LOCATED AT 818 KENWOOD DRIVE, LOUISVILLE, KENTUCKY OWNED BY THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT ("METRO GOVERNMENT") AS SURPLUS AND NO LONGER NEEDED FOR A GOVERNMENTAL PURPOSE AND AUTHORIZING ITS TRANSFER TO HOUND DOG, LLC.
SPONSORED BY: COUNCILMEMBERS MARIANNE BUTLER, VICKI AUBREY-WELCH, RICK BLACKWELL AND PRESIDENT DAVID YATES
WHEREAS, according to KRS Chapter 67C.101, Metro Government may sell any real property belonging to Metro Government; and
WHEREAS, Section 1(A) of Executive Order No. 2, Series 2011 of the Mayor, which adopts Section 2(C) of Executive Order No. 3, Series 2007, provides that Metro Government may sell and convey surplus real estate upon declaration by the Legislative Council of Louisville/Jefferson County Metro Government ("the Council") that such property is no longer needed for the governmental purposes of Metro Government; and
WHEREAS, Metro Government has entered into an Amended and Restated Development Agreement dated October 24, 2017, with Hound Dog, LLC, a Kentucky limited liability company (the "Development Agreement"), a copy of which is attached to this Resolution as Exhibit A, to enable the redevelopment of Colonial Gardens on the real property that is the subject of this Resolution; and
WHEREAS, the Development Agreement contemplates the restoration of the main structure of the historic Colonial Gardens building, and the construction of (i) new buildings, creating a total of approximately 18,000 square feet of leasable space suitable for use by retail, restaurant or commercial tenants; (ii) a landscaped outdoor gathering place, including amenities such as bike racks, benches, a fountain and gazebo; and (iii) a paved, lighted and landscaped parking lot (the "Project"); and
WHEREAS, Section 1.19 of the Development Agreement contains a provision addressing the recapture of project incentives if the r...
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