Lexington-Fayette Urban County Government - File #: 1235-13

• File #: 1235-13
• Version: 1
• Name: Economic Development Investment Board
• Type: Ordinance
• Status: Approved
• File created: 11/11/2013
• In control: Urban County Council
• On agenda: 12/5/2013
• Final action: 12/5/2013
• Enactment date: 12/5/2013
• Enactment #: O-152-2013
• Title: An Ordinance amending Ordinance No. 203-80, as amended by Ordinance Nos. 59-81, 103-86, 237-93, 52-94, 18-96, and 180-2009, relating to the Industrial Revenue/Housing Bond Commission, to rename the Commission the Economic Development Investment Board, to increase the membership from nine (9) to eleven (11) members, to replace one at large member with the Chief Development Officer or his or her designee, who shall serve as the chairperson and who shall only vote in the event of a tie, to add an additional Councilmember and to designate the Councilmembers who serve as the respective chairpersons of the Urban County Council's Economic Development Committee and Budget and Finance Committee as members, to replace one housing industry member with a member from the financial investment or banking industry, and to add one member from the private equity/venture capital industry. [Mayor's Office, Emmons]

Date	Ver.	Action By	Action	Result
12/5/2013	1	Urban County Council	Approved	Pass
11/21/2013	1	Urban County Council	Amended	Pass
11/21/2013	1	Urban County Council	Received First Reading
11/19/2013	1	Urban County Council Work Session	Approved and Referred to Docket	Pass

Title
An Ordinance amending Ordinance No. 203-80, as amended by Ordinance Nos. 59-81, 103-86, 237-93, 52-94, 18-96, and 180-2009, relating to the Industrial Revenue/Housing Bond Commission, to rename the Commission the Economic Development Investment Board, to increase the membership from nine (9) to eleven (11) members, to replace one at large member with the Chief Development Officer or his or her designee, who shall serve as the chairperson and who shall only vote in the event of a tie, to add an additional Councilmember and to designate the Councilmembers who serve as the respective chairpersons of the Urban County Council's Economic Development Committee and Budget and Finance Committee as members, to replace one housing industry member with a member from the financial investment or banking industry, and to add one member from the private equity/venture capital industry. [Mayor's Office, Emmons]
Summary
Authorization to amend the Industrial Revenue Bond Review Committee Ordinance to create the Economic Development Investment Board. (L1235-13) (Emmons)
This is a request to amend the Industrial Revenue Bond Review Committee Ordinance to create the Economic Development Investment Board, which will review incentive package applications and make recommendations for the Lexington Job Fund Program. There is no budgetary impact.

Budgetary Implications: Yes/NO
Advance Document Review: Law/Risk Management
Fully Budgeted: Yes/No/Partial
Account Number: N/A
This Fiscal Year Impact: $N/A
Annual Impact: $
Project:
Activity:
Budget Reference:
Current Balance: N/A
Body
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE LEXINGTON-FAYETTE URBAN COUNTY GOVERNMENT:
Section 1 - That Sections 6 and 7 of Ordinance No. 203-80, as amended by Ordinance No. 59-81, Ordinance No. 103-86, Ordinance No. 237-93, Ordinance No. 52-94, Ordinance No. 18-97, and Ordinance No. 180-2009, relating to Industrial Revenue Building Bonds be and hereby is am...