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File #: R-031-22    Version: 1 Name:
Type: Resolution Status: Passed
File created: 2/14/2022 In control: Labor and Economic Development Committee
On agenda: 3/3/2022 Final action: 3/3/2022
Title: AN INDUCEMENT RESOLUTION OF LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT (THE "ISSUER") GIVING PRELIMINARY APPROVAL TO THE ACQUISITION, CONSTRUCTION AND EQUIPPING OF A NEW MANUFACTURING FACILITY TO BE LOCATED AT 801 LOGAN STREET, LOUISVILLE, KENTUCKY, 40204; SUCH FACILITY TO BE OPERATED BY FERNCLIFF, LLC (THE "COMPANY"), AND USED FOR THE DISTILLING AND PRODUCTION OF WHISKEY AND OTHER SPIRITS ON SITE; GIVING PRELIMINARY APPROVAL TO THE ISSUANCE OF TAXABLE AND/OR TAX-EXEMPT INDUSTRIAL BUILDING REVENUE BONDS IN ONE OR MORE SERIES AT THE APPROPRIATE TIME TO PAY THE COST OF ACQUISITION, CONSTRUCTION AND EQUIPPING OF SAID PROJECT; AUTHORIZING THE EXECUTION AND DELIVERY OF A MEMORANDUM OF AGREEMENT BETWEEN THE ISSUER AND THE COMPANY; AND TAKING OTHER PRELIMINARY ACTIONS.
Sponsors: Jecorey Arthur (D-4)
Attachments: 1. R-031-22 V.1 021722 Inducement for New Facility at 801 Logan Street.pdf, 2. R-031-22 ATTACH Exhibit A - Memorandum of Agreement.pdf, 3. RES 026 2022.pdf
RESOLUTION NO. ___________, SERIES 2022
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AN INDUCEMENT RESOLUTION OF LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT (THE "ISSUER") GIVING PRELIMINARY APPROVAL TO THE ACQUISITION, CONSTRUCTION AND EQUIPPING OF A NEW MANUFACTURING FACILITY TO BE LOCATED AT 801 LOGAN STREET, LOUISVILLE, KENTUCKY, 40204; SUCH FACILITY TO BE OPERATED BY FERNCLIFF, LLC (THE "COMPANY"), AND USED FOR THE DISTILLING AND PRODUCTION OF WHISKEY AND OTHER SPIRITS ON SITE; GIVING PRELIMINARY APPROVAL TO THE ISSUANCE OF TAXABLE AND/OR TAX-EXEMPT INDUSTRIAL BUILDING REVENUE BONDS IN ONE OR MORE SERIES AT THE APPROPRIATE TIME TO PAY THE COST OF ACQUISITION, CONSTRUCTION AND EQUIPPING OF SAID PROJECT; AUTHORIZING THE EXECUTION AND DELIVERY OF A MEMORANDUM OF AGREEMENT BETWEEN THE ISSUER AND THE COMPANY; AND TAKING OTHER PRELIMINARY ACTIONS.
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SPONSORED BY: COUNCIL MEMBER ARTHUR

WHEREAS, Ferncliff, LLC is a Kentucky limited liability company (the "Company") qualified to do business in the Commonwealth of Kentucky ("Kentucky"); and
WHEREAS, the Company proposes to undertake an industrial building project, within the meaning of the Industrial Buildings for Cities and Counties Act, as amended, Sections 103.202 to 103.285 of the Kentucky Revised Statutes (the "Act") consisting of (i) the acquisition, construction and equipping of a facility for the production of whiskey and other spirits on site, with related facilities that may include a tasting room, events center and gift shop, to be located at 801 Logan Street, Louisville, Jefferson County, Kentucky 40204, (ii) the reimbursement to the Company for costs already incurred and paid with respect to the foregoing, and (iii) the payment of certain costs of issuance (collectively the "Project"); and
WHEREAS, the acquisition, construction and equipping of the Project will create employment, increase manufacturing in Kentucky, result in investment within Louisville/Jefferson County Metro Government (the "Issuer") and otherwise serve public purpo...

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