Disclaimer: Only “roll call” votes are recorded.

Disclaimer: Only the attendance of committee members is recorded for committee meetings.

Share to Facebook Share to Twitter Bookmark and Share
File #: O-407-21    Version: Name:
Type: Ordinance Status: Passed
File created: 8/9/2021 In control: Metro Council
On agenda: 8/26/2021 Final action: 8/26/2021
Title: AN ORDINANCE ESTABLISHING A DEVELOPMENT AREA PURSUANT TO PROVISIONS OF KRS 65.7041- 65.7083 TO BE KNOWN AS THE LOGISTICS AIR PARK DEVELOPMENT AREA, DESIGNATING THE METRO DEVELOPMENT AUTHORITY, INC. APPROVING ENTERING INTO A LOCAL PARTICIPATION AGREEMENT, AUTHORIZING THE PAYMENT OF THE "RELEASED AMOUNT" PURSUANT TO THE TERMS AND CONDITIONS OF THE LOCAL PARTICIPATION AGREEMENT, REQUIRING THE SUBMISSION OF REGULAR REPORTS TO LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT AND AUTHORIZING THE EXECUTION AND DELIVERY OF ANY OTHER DOCUMENTS AND THE TAKING OF ANY OTHER ACTIONS NECESSARY TO ACCOMPLISH THE PURPOSES AUTHORIZED BY THIS ORDINANCE (AS AMENDED).
Sponsors: Mark Fox (D-13)
Attachments: 1. O-407-21 V.2 FAM 082621 Establishing Logistic Air Park Development Area.pdf, 2. O-407-21 ATTACH EXHIBIT A Development Plan.pdf, 3. O-407-21 ATTACH EXHIBIT B Map of Development Area.pdf, 4. O-407-21 ATTACH EXHIBIT C Local Participation Agreement.pdf, 5. O-407-21 ATTACH EXHIBIT D Memorandum of Understanding.pdf, 6. O-407-21 PROPOSED FAM 082621 Establishing Logistic Air Park Development Area.pdf, 7. PROPOSED EXHIBIT D - Memorandum of Understanding - Storm Water Bank LLC Nicklies Company Inc. to Louisville Metro Government.pdf, 8. O-407-21 V.1 081221 Establishing Logistic Air Park Development Area.pdf, 9. LAP_Impact Analysis_Local Net New_8.6.21.pdf, 10. O-407-21 Proposed Bridge-Road Presentation.pdf, 11. O-407-21 Presentation #2.pdf, 12. ORD 129 2021.pdf
ORDINANCE NO. , SERIES 2021
title
AN ORDINANCE ESTABLISHING A DEVELOPMENT AREA PURSUANT TO PROVISIONS OF KRS 65.7041- 65.7083 TO BE KNOWN AS THE LOGISTICS AIR PARK DEVELOPMENT AREA, DESIGNATING THE METRO DEVELOPMENT AUTHORITY, INC. APPROVING ENTERING INTO A LOCAL PARTICIPATION AGREEMENT, AUTHORIZING THE PAYMENT OF THE "RELEASED AMOUNT" PURSUANT TO THE TERMS AND CONDITIONS OF THE LOCAL PARTICIPATION AGREEMENT, REQUIRING THE SUBMISSION OF REGULAR REPORTS TO LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT AND AUTHORIZING THE EXECUTION AND DELIVERY OF ANY OTHER DOCUMENTS AND THE TAKING OF ANY OTHER ACTIONS NECESSARY TO ACCOMPLISH THE PURPOSES AUTHORIZED BY THIS ORDINANCE (AS AMENDED).
body
SPONSORED BY: COUNCIL MEMBER MARK FOX

WHEREAS, the Kentucky General Assembly enacted KRS 65.7041- 65.7083 and KRS 154.30-010-154-30.090 (the "Act") relating to tax increment financing and urban redevelopment, which Act establishes development areas to increase property values, increase employment opportunities, and increase economic activity;
WHEREAS, the Act also authorizes certain State Participation Programs to encourage private investment in the development of major projects that will have a significant impact in the Commonwealth;
WHEREAS, Nicklies & Company, a Kentucky corporation, or an affiliate of same (the "Developer") plans to undertake a major project within the Logistics Air Park Development Area (the "Development Area") to complete the Logistics Air Park Redevelopment Project (the "Project"), as more particularly described in the Development Plan attached hereto as Exhibit A;
WHEREAS, the Project, which qualifies as a development area under the Act, will involve new capital investment of approximately $49 million when fully developed, of which $20 million is related to public infrastructure costs, including road improvements that would benefit the area surrounding the Project and for a pledge of state incremental revenues under one of ...

Click here for full text