Title
A Resolution approving the granting of an inducement to A Great American Brand d/b/a A&W Restaurants, Inc., 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 A Great American Brand d/b/a A&W Restaurants, Inc., 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 A Great American Brand d/b/a A&W Restaurants, Inc., has with the Ky. Economic Development Finance Authority related to the project, and taking other related action. [Mayor’s Office, Atkins]
Summary
Authorization to approve an agreement with A Great American Brand dba A&W Restaurants, Inc. approving a 10-year local 1% wage assessment to participate in Kentucky Economic Development’s Kentucky Business Investment Program. (L257-12) (Atkins)
This is a request to approve an agreement with A&W Restaurants, Inc. approving a 10-year local 1% wage assessment to participate in Kentucky Economic Development’s Kentucky Business Investment Program. There is no budgetary impact on LFUCG.
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: N/A
Body
WHEREAS, the 2009 General Assembly adopted in Extraordinary Session the Kentucky Business Investment Program pursuant to House Bill 3 (the “Act”) to induce the creation of certain qualifying projects that would create jobs in Kentucky; and
WHEREAS, the Kentucky Economic Development Finance Authority has preliminarily approved the participation of A Great American Brand d/b/a A&W Res...
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