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File #: R-137-19    Version: 1 Name:
Type: Resolution Status: Passed
File created: 10/3/2019 In control: Labor and Economic Development Committee
On agenda: 10/24/2019 Final action: 10/24/2019
Title: A RESOLUTION AMENDING RESOLUTION NO. 250, SERIES 2011, REGARDING THE GRANTING OF LOCAL INCENTIVES TO LEARNING HOUSE, INC. PURSUANT TO KRS CHAPTER 154, SUBCHAPTER 32, TO CHANGE THE NAME OF THE APPROVED COMPANY FROM LEARNING HOUSE, INC. TO WILEY EDU, LLC, TO INCLUDE AN APPROVED AFFILIATE OF JOHN WILEY & SONS, INC., AND TO APPROVE OF ANY SUBSEQUENT ASSIGNEES OR APPROVED AFFILIATES THEREOF.
Sponsors: David Yates (D-25), Anthony Piagentini (R-19)
Attachments: 1. R-137-19 V.1 101019 Amend R-250-2011 re Learning House.pdf, 2. The Learning House merger documents to John Wiley.pdf, 3. RES 113 2019.pdf

RESOLUTION NO.______, SERIES 2019

TITLE

A RESOLUTION AMENDING RESOLUTION NO. 250, SERIES 2011, REGARDING THE GRANTING OF LOCAL INCENTIVES TO LEARNING HOUSE, INC. PURSUANT TO KRS CHAPTER 154, SUBCHAPTER 32, TO CHANGE THE NAME OF THE APPROVED COMPANY FROM LEARNING HOUSE, INC. TO WILEY EDU, LLC, TO INCLUDE AN APPROVED AFFILIATE OF JOHN WILEY & SONS, INC., AND TO APPROVE OF ANY SUBSEQUENT ASSIGNEES OR APPROVED AFFILIATES THEREOF.

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SPONSORED BY:  COUNCILMEMBERS YATES AND PIAGENTINI

 

                     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 Legislative Council of the Louisville/Jefferson County Metro Government (the “Council”) passed Resolution No. 250, Series 2011 granting local incentives to Learning House, Inc. pursuant to the Act;

            WHEREAS, following the passage of Resolution No. 250, Series 2011, The Learning House was acquired by John Wiley & Sons, Inc., a New York corporation, and merged with and into its wholly owned subsidiary, Wiley Edu, LLC, a Delaware LLC; and requested to add an affiliate, John Wiley & Sons, Inc., to receive the benefits under the KBI Program; and

            WHEREAS, Wiley Edu, LLC and its affiliate, John Wiley & Sons, Inc,. have 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 modifying the incentive grant to reflect the name change from Learning House, Inc. to Wiley Edu, LLC, and to include an approved affiliate, John Wiley & Sons, Inc. (the “Company”), provided such modification does not alter the Company’s obligation to satisfy the requirements set forth in the Act, including minimum full time jobs, investment, and wage and employee benefits, and the terms of Resolution No. 250, Series 2011, as amended.

SECTION II: That the Council does hereby approve participating in the grant of incentives to any subsequent assignees or approved affiliates of the Company, under the KBI Program, subject to the requirements set forth in the Act, including minimum full time jobs, investment, and wage and employee benefits, and subject to the terms of Resolution No. 250, Series 2011, as amended.

Section III: That the Council does hereby agree to participate in the grant of incentives under the KBI Program by contributing one percent (1%) of the local occupational tax pursuant to the provisions of KRS 154-32.090.  The State to Local participation ratio in this grant of incentives shall be 75% to 25%, and the Company shall pay a minimum average salary equal to or greater than $32,000 at activation.

                     Section IV:                     That the Mayor and other appropriate officers and employees of Louisville/Jefferson County Metro Government are authorized and directed to execute, acknowledge and deliver on behalf of Louisville/Jefferson County Metro any and all papers, instruments, certificates, affidavits and other documents, and to do and cause to be done any and all acts and things necessary or proper for the grant of incentives as authorized by the Act and this Resolution.

                     Section V: No portion of the funds derived by the Company from the grant of incentives herein shall be used by the Company for any purposes designed to prevent, limit, discourage or restrict union activities within the Company.

                     Section VI: This Resolution shall be effective upon its passage and approval.

 

 

 

 

_______________________________                                          _____________________________

H. Stephen Ott                                                                                                         David James

Metro Council Clerk                                                                                                         President of the Council

 

 

 

________________________________                                          Approved: ____________________

Greg Fischer, Mayor                                                                                                                              Date

 

APPROVED AS TO FORM AND LEGALITY:

 

Michael J. O’Connell

Jefferson County Attorney

 

 

 

By: _________________________

R-137-19 KBI Wiley Edu LLC sd 100319.docx