Title
A Resolution amending Resolution No. 286-2011, to approve the granting of an inducement to Lockheed Martin Corp. and its affiliate Lockheed Martin Operations Support, Inc. [Mayor's Office, Atkins]
Summary
Authorization to amend Resolution No. 286-2011 which grants a local Occupational License Fee (OLF) inducement to Lockheed Martin Corp., to also include its affiliate, Lockheed Martin Operations Support, Inc. (L1016-13) (Atkins)
This is a request to amend Resolution No. 286-2011 which grants a local Occupational License Fee (OLF) inducement to Lockheed Martin Corp., to also include its affiliate, Lockheed Martin Operations Support, Inc. There is no budgetary impact.
Budgetary Implications: NO
Advance Document Review: Law/
Fully Budgeted: Yes/No/Partial
Account Number:
This Fiscal Year Impact: $
Annual Impact: $
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Activity:
Budget Reference:
Current Balance:
Body
WHEREAS, the Kentucky Economic Development Finance Authority has agreed to provide Lockheed Martin Corporation and its affiliate Lockheed Martin Operations Support, Inc., with incentives and the Lexington-Fayette Urban County Government desires to provide the local incentive for a matching period of time.
NOW THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE LEXINGTON-FAYETTE URBAN COUNTY GOVERNMENT:
Section 1 - That Resolution No. 286-2011, be and hereby is amended in all relevant sections to change the recipients of the economic development incentive to Lockheed Martin Corporation and its affiliate Lockheed Martin Operations Support, Inc., and any other approved affiliates authorized by the Kentucky Economic Development Finance Authority to receive incentives, and all references in Resolution No. 286-11 to "Lockheed Martin Corporation" are replaced with "Lockheed Martin Corporation and its affiliate Lockheed Martin Operations Support, Inc."
Section 2 - That Resolution No. 286-11 otherwise remains unchanged and is in effect.
Section 3 - That this R...
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