Title
A Resolution approving the granting of an Inducement to CMSText, LLC, pursuant to the Ky. Business Investment Act created by House Bill 3 of the 2009 Extraordinary Legislative Session, whereby Lexington-Fayette Urban County Government agrees to forego the collection of one percent (1%) of the occupational license fees that would otherwise be due to it, which shall be retained by CMSText, LLC, for a term of not longer than ten (10) years from the activation date established by the Ky. Business Investment Program, subject to the limitations contained in the Ky. Business Investment Act and any Agreement CMSText, LLC, has with the Ky. Economic Development Finance Authority related to the Project, and taking other related action. [Mayor’s Office, Atkins]
Summary
Authorization to execute an agreement with CMSText, LLC approving a 10-year local 1% wage assessment to participate in Kentucky Economic Development's Kentucky Business Investment Program. (422-11) (Atkins)
This is a request to execute an agreement with CMSText, LLC approving a local 10-year agreement with a 1% wage assessment to participate in the Kentucky Business Investment Program. CMSText, LLC plans to create 135 new jobs.
Budgetary Implications: NO
Advance Document Review: Law/Risk Management
Fully Budgeted: Yes/No/Partial
Account Number:
This Fiscal Year Impact: $
Annual Impact: $
Project:
Activity:
Budget Reference:
Current Balance:
Body
{Body of resolution or ordinance}