4.
AN INDUCEMENT RESOLUTION OF THE LOUISVILLE/JEFFERSON
COUNTY METRO GOVERNMENT (THE “ISSUER”) AUTHORIZING THE
EXECUTION OF A MEMORANDUM OF AGREEMENT BETWEEN THE
ISSUER AND MGI LOUISVILLE, LLC, ITS AFFILIATES AND ASSIGNS
(COLLECTIVELY, THE “COMPANY”) RELATING TO THE ACQUISITION,
CONSTRUCTION, EQUIPPING AND INSTALLATION OF FACILITIES AT
501-504 AND 503 FRANKLIN STREET, UNADDRESSED E.
WITHERSPOON STREET (PARCEL ID NO. 18D-0025-0000),
UNADDRESSED FRANKLIN STREET (PARCEL ID NO.
18E-0020-0000), UNADDRESSED FRANKLIN STREET (PARCEL ID
NO. 18E-0064-0000), UNADDRESSED JACKSON STREET (PARCEL
ID NO. 18E-0016-0000), UNADDRESSED JACKSON STREET
(PARCEL ID NO. 18E-0063-0000), 501 E. MAIN STREET, 300-304
JACKSON STREET, AND 100 N. HANCOCK STREET, LOUISVILLE,
KENTUCKY, INCLUDING THE ACQUISITION, CONSTRUCTION,
EQUIPPING AND INSTALLATION OF (I) BETWEEN 225 AND 300
MULTI-FAMILY DWELLING UNITS; (II) A PARKING STRUCTURE TO
SUPPORT THE RESIDENTIAL UNITS, CONTAINING APPROXIMATELY
89 PARKING SPACES; (III) A HOTEL CONTAINING BETWEEN 134
AND 180 ROOMS; (IV) BETWEEN 38,800 AND 50,000 SQUARE FEET
OF OFFICE SPACE; (V) BETWEEN 18,000 AND 22,000 SQUARE
FEET OF RETAIL SPACE; (VI) A GARAGE TO BE OWNED AND
OPERATED BY PARC CONTAINING NO FEWER THAN 575 PARKING
SPACES; AND (VII) OTHER PUBLIC INFRASTRUCTURE
IMPROVEMENTS (THE “PROJECT”); AGREEING TO UNDERTAKE THE
ISSUANCE OF ONE OR MORE SERIES OF INDUSTRIAL BUILDING
REVENUE BONDS AT THE APPROPRIATE TIME TO FINANCE THE
COSTS OF ACQUIRING, CONSTRUCTING, EQUIPPING AND
INSTALLING SAID FACILITIES; AND TAKING OTHER PRELIMINARY
ACTION.
Sponsors:
Primary Ken Herndon (D-4)
Attachments:
Legislative History
6/11/26
Metro Council
assigned to the Labor and Economic
Development Committee
Action Required By: December 11, 2026