Title
A Resolution authorizing the Mayor, the Commissioner of Finance and any other necessary signatories, on behalf of the Lexington-Fayette Urban County Government and its Dept. of Finance, to execute and submit to the Ky. Economic Development Finance Authority an Amended Application for Tax Increment Financing Programs for the Phoenix Park/Courthouse Project and an Amendment to the Tax Incentive Agreement, and any other necessary related documents. [Mayor's Office, Atkins]
Summary
Authorization to submit amended Phoenix Park/Courthouse Project Tax Increment Financing (TIF) application to the Kentucky Economic Development Finance Authority (KEDFA). (L0743-13) (Atkins)
This is a request to submit amended Phoenix Park/Courthouse Project TIF application to the KEDFA, lowering the minimum capital investment from $200 million to $150 million. There is no budgetary impact.
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
BE IT RESOLVED BY THE COUNCIL OF THE LEXINGTON-FAYETTE URBAN COUNTY GOVERNMENT:
Section 1 - That the Mayor, the Commissioner of Finance and any other necessary signatories, on behalf of the Lexington-Fayette Urban County Government and its Department of Finance and Administration, be and hereby are authorized to execute and submit to the Kentucky Economic Development Finance Authority the amended application for Tax Increment Financing Programs for the Phoenix Park/Courthouse Project and the Amendment to the Tax Incentive Agreement, which are attached hereto and incorporated herein by reference, and any other necessary related documents.
Section 2 - That this Resolution shall become effective on the date of its passage.
PASSED URBAN COUNTY COUNCIL:
___________________________________
MAYOR
ATTEST:
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