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File #: O-464-20    Version: 1 Name:
Type: Ordinance Status: Passed
File created: 10/7/2020 In control: Labor and Economic Development Committee
On agenda: 11/5/2020 Final action: 11/5/2020
Title: AN ORDINANCE AMENDING CHAPTER 37.75 OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT CODE OF ORDINANCES ("LMCO") BY INCLUDING LOCAL TAX INCREMENT FINANCING PROJECTS IN THE DEFINITION OF TAXPAYER SUBSIDIZED PROJECTS.
Sponsors: Barbara Sexton Smith (D-4)
Attachments: 1. O-464-20 V.1 102220 TAX INCREMENT FINANCING PROJECTS IN -TAXPAYER SUBSIDIZED PROJECTS.pdf, 2. ORD 139 2020.pdf
ORDINANCE NO. _____, SERIES 2020
Title
AN ORDINANCE AMENDING CHAPTER 37.75 OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT CODE OF ORDINANCES ("LMCO") BY INCLUDING LOCAL TAX INCREMENT FINANCING PROJECTS IN THE DEFINITION OF TAXPAYER SUBSIDIZED PROJECTS.
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SPONSORED BY: COUNCIL MEMBER BARBARA SEXTON SMITH

WHEREAS, Chapter 37.75 of the Louisville/Jefferson County Metro Government Code of Ordinances ("LMCO") pertains to fair labor standards for Taxpayer Subsidized Projects, as that term is defined in the ordinance, and includes a requirement that Taxpayer Subsidized Projects make good faith efforts to comply with the goals contained in LMCO 37.75(b); and
WHEREAS, LMCO 37.75 currently does not include local tax increment financing projects ("TIFs") approved pursuant to KRS 65.7041-65.7083 in the definition of Taxpayer Subsidized Project; and
WHEREAS, recent local TIFs have been approved with the following negotiated provision "while the Project is not subject to LMCO 37.75, the Developer intends to make a good faith effort to achieve the goals set forth in the ordinance with respect to minority participation, women participation, and residents within the Louisville MSA during the construction of the project," as evidenced by the development plans that were part of Ordinance 162, Series 2017, Ordinance 242, Series 2017 and Ordinance 171, Series 2019; and
WHEREAS, both Metro Government and the Legislative Council of the Louisville/Jefferson County Metro Government (the "Council") have expressed an expectation that future local TIFs would also comply with the requirements of LMCO 37.75; and
WHEREAS, the Council wishes to codify that expectation by including local TIFs in the definition of Taxpayer Subsidized Project; and
NOW, THEREFORE, BE IT ORDAINED BY THE LEGISLATIVE COUNCIL OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT AS FOLLOWS:

SECTION I: The definition of Taxpayer Subsidized Projects in LMCO Section 37.75 is...

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