RESOLUTION NO.______, SERIES 2019
TITLE
A RESOLUTION AMENDING RESOLUTION 090, SERIES 2017 APPROVING THE GRANTING OF LOCAL INCENTIVES TO EL TORO.COM, LLC, AND ANY SUBSEQUENT ASSIGNEES OR APPROVED AFFILIATES THEREOF PURSUANT TO KRS CHAPTER 154, SUBCHAPTER 32.
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SPONSORED BY: COUNCIL MEMBER DAVID YATES
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;
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;
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;
WHEREAS, the KBI Program encourages local governments to participate in these incentives for businesses within their jurisdictions;
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; and
WHEREAS, El Toro.com, LLC, 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 I: That the Council does hereby approve participating in the grant of incentives to El Toro.com, LLC (the "Company"), and any subsequent assignees and approved affilia...
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