60.
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:
A motion was made by Council Member Piagentini, seconded by Council
Member Seum, that this Resolution be approved.
The following spoke to this item:
- Council Member Parrish-Wright
- Council Member Reno-Weber
- Council Member Batshon
- Council Member Owen
The motion carried by the following vote and the Resolution was adopted:
22 - Hawkins, Shanklin, Herndon, Purvis, McCraney, Reno-Weber, Owen, Raymond,
Kramer, Joseph, Seum Jr., Bast, Reed, Parker, Piagentini, Benson, Ruhe,
Bratcher, Hudson, Mulvey-Woolridge, Batshon and Ackerson
Yes:
2 - Lyninger and Chappell
1 - Parrish-Wright
No:
Present:
Absent:
1 - Winkler
Enactment No: Resolution No. 050-2026
