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.
Primary Ken Herndon (D-4)
Sponsors:
Attachments:
A motion was made by Committee Member Batshon, seconded by Committee
Member Hudson, that this Resolution be recommended for approval.
The following spoke to this item:
- Jeff O'Brien, Economic Development
- Committee Member Lyninger
- Laura Ferguson, Jefferson County Attorney's Office
The motion carried by a voice vote and the Resolution was sent to Old
Business.