Sep 12, 2024 Budget Committee (trimmed)

[00:00:09]

THAT THE. GOOD AFTERNOON. MY NAME IS COUNCILMAN KEVIN KRAMER AND VICE CHAIR OF THE BUDGET

[Call to Order]

[Roll Call]

COUNCILMAN. ARTHUR, AND AS I SAID, I'M COUNCILMAN KEVIN KRAMER. THE AGENDA HAS SHIFTED AROUND A LITTLE BIT, AND SO WITH THAT, I'M GOING TO I'M GOING TO ANNOUNCE THE SHIFT, THE CHANGES, AND THEN I'M GOING TO WITHOUT WITHOUT OBJECTION, I'M GOING TO MAKE THOSE CHANGES UNLESS OF COURSE, YOU OBJECT. SO HERE GOES, ITEM NUMBER FIVE WAS A SPECIAL DISCUSSION. WE HAD MOVED IT TO THE TOP OF THE LIST. COUNCILMAN BLACKWELL AND I HAVE SPOKEN WITH DEPUTY MAYOR MAITLAND. I SENT OUT A AN EMAIL EARLIER TODAY, AND WE'RE GOING TO POSTPONE THAT ONE. WE'LL HAVE THEM BACK AT A LATER DATE, ITEM NUMBER ONE, IS THE DISCUSSION ABOUT THE ARTWORK ON THE WATERFRONT, WE'VE BEEN ASKED IF WE WOULD HOLD THAT ONE, AND SO WE'LL BE DISCUSSING THAT ONE ALSO AT A LATER DATE, WHICH BRINGS ME TO ITEM NUMBER TWO, WHICH IS THE FIRST ITEM ON THE AGENDA, THAT WE'LL BE DISCUSSING TODAY. AND BEFORE WE READ THAT INTO THE RECORD, I'D ASK THE CLERK IF THEY WOULD READ THE PORTION ABOUT US BEING VIRTUALLY IS BEING HELD PURSUANT TO KRS 61.826 AND COUNCIL RULE FIVE, A READ IN FULL. THANK YOU. SO THE FIRST ITEM FOR DISCUSSION TODAY

[2. O-203-24     AN ORDINANCE AMENDING ORDINANCE NO. 084, SERIES 2022, ORDINANCE NO. 080, SERIES 2023, AND ORDINANCE NO. 101, SERIES 2024, RELATING TO THE FISCAL YEAR 2022-2023, FISCAL YEAR 2023-2024 AND FISCAL YEAR 2024-2025 CAPITAL BUDGETS, RESPECTIVELY, BY ESTABLISHING A NEW PROJECT TITLED D19 AIKEN/ARNOLD PALMER INTERSECTION. Action Required By: March 2025 Sponsors: Anthony Piagentini (R-19) ]

AGAIN, COUNCILMAN PIAGENTINI IS JOINING US VIRTUALLY, I'M GOING TO THROW THE FLOOR TO HIM. THANK YOU, MISTER VICE CHAIR. I APOLOGIZE, COLLEAGUES, THAT I'M NOT THERE LIVE TO MAKE THIS EXPLANATION, BUT, AS YOU'LL SEE IN THE IN THE INFORMATION THAT WAS SENT BY MISS BELL. AND THANK YOU VERY MUCH, TANYA, FOR PULLING THAT TOGETHER. ESSENTIALLY, THIS IS A BIT OF A CLERICAL FUNCTION THAT WE'RE DOING HERE. WE HAD TWO PROJECTS, ONE THAT GOT TWO PROJECTS THAT HAVE BEEN FUNDED OVER TWO FISCAL YEARS TO IMPROVE INTERSECTIONS ON AIKEN ROAD AFTER MEETING WITH DIRECTOR KERN COMMUNITY, AS WELL AS DEPUTY MAYOR NICOLE GEORGE. AND I WANT TO THANK ALL OF THEM AGAIN, INCLUDING THE MEMBERS OF THE COMMUNITY, FOR BEING AVAILABLE AND LOOKING AT ALL THE OPTIONS AND WHAT ARE THE BEST WAYS TO MOVE FORWARD. IT HAS BEEN DECIDED THAT THE IMPROVEMENT OF THE INTERSECTION OF ARNOLD, PALMER AND AIKEN ROAD IS THE PRIORITY AT THIS POINT, WE HAVE SOME IDEAS TO IMPROVE IT AGAIN. THE FIRST PROJECT THAT WAS FUNDED TWO YEARS AGO, WAS WITH A PROJECT THAT WAS FUNDED THIS YEAR, WAS DEDICATED TO THAT OR PARTIAL FUNDING OF THAT LAST YEAR IT WAS OR THE PRIOR FISCAL YEAR. IT WAS A TRAFFIC LIGHT AT A NEIGHBORING INTERSECTION. SO ESSENTIALLY ALL WE'RE DOING IS WE'RE TAKING BOTH THOSE FUNDS FROM THOSE TWO INTERSECTIONS, PUTTING THEM TOGETHER INTO ONE FUND, AND THEN JUST NAMING THAT, WHICH IS THE PROJECT TO IMPROVE THE INTERSECTION OF ARNOLD PALMER AND AIKEN ROAD. ALTHOUGH THIS HAS ALREADY BEEN DISCUSSED THROUGH THE BUDGET PROCESS. AS A REFRESHER, AIKEN ROAD, WHICH CUTS THROUGH DISTRICT 19, IS EXPERIENCING INCREDIBLE GROWTH OVER THE PAST, THREE YEARS, WE'VE HAD HUNDREDS OF NEW SINGLE FAMILY HOMES BUILT ON THAT ROAD, AND WE HAVE A SUBDIVISION THAT'S ALREADY BEEN APPROVED FOR ANOTHER THOUSAND UNITS OF SINGLE FAMILY HOUSING TO GO ON THAT ROAD. AND WE'RE SEEING LITERALLY THOUSANDS OF NEW CARS HITTING THAT ROAD EVERY DAY. AND THIS IS ONE OF THE THROUGH ROADS THAT CUTS ACROSS WHICH THERE'S BEEN INCREASING TRAFFIC ACCIDENTS AND ISSUES WITH TRAFFIC PATTERNS. SO THAT'S THE PURPOSE OF PRIORITIZING THIS PROJECT. AND THEN JUST BRINGING THESE TWO FUNDS TOGETHER. SO NOT IMPACTING THE BUDGET IN ANY WAY. IT'S JUST PRIORITIZING AND MOVING THESE

[00:05:01]

YES. THANK YOU. OKAY. COUNCILMAN PIAGENTINI, YES. SORRY. YOU'RE OKAY. COUNCILWOMAN MCCRANEY, IS IT NOT SHOWING UP FOR YOU? OKAY. OKAY. YOU CAN JUST TELL ME. THANK YOU. ALL RIGHT, VICE CHAIR KRAMER, WE HAVE. NINE YES VOTES. OKAY. THAT'S WITH UNANIMOUS CONSENT. THAT WILL GO TO THE CONSENT CALENDAR. I SHOULD POINT OUT THAT COUNCILWOMAN PARKER HAS AN EXCUSED ABSENCE AND WE HAVE

[3. O-205-24     AN ORDINANCE OF THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT (THE "METRO GOVERNMENT" OR THE "ISSUER"), PROVIDING FOR AND AUTHORIZING THE ISSUANCE OF CERTAIN GENERAL OBLIGATION BONDS AND NOTES OF THE METRO GOVERNMENT IN ONE OR MORE SERIES TO FINANCE THE COSTS OF VARIOUS PUBLIC PROJECTS AS DESCRIBED IN METRO GOVERNMENT CAPITAL PROJECTS BUDGETS; SETTING FORTH THE TERMS AND CONDITIONS ON WHICH THE BONDS AND NOTES ARE TO BE ISSUED AND PROVIDING FOR A COMPETITIVE, ADVERTISED SALE THEREOF; DEFINING AND PROVIDING FOR THE RIGHTS OF THE HOLDERS OF THE BONDS AND NOTES AND PROVIDING FOR THE APPLICATION OF THE PROCEEDS THEREOF; AND TAKING OTHER RELATED ACTION RELATING TO THE ISSUANCE AND SALE OF THE BONDS AND NOTES. Action Required By: March 2025 Sponsors: Rick Blackwell (D-12) ]

THIS IS AN ORDINANCE OF THE LOUISVILLE JEFFERSON COUNTY METRO GOVERNMENT PROVIDING FOR AND AUTHORIZING THE ISSUANCE OF CERTAIN GENERAL OBLIGATION BONDS AND NOTES OF THE METRO GOVERNMENT IN ONE OR MORE SERIES TO FINANCE THE COSTS OF VARIOUS PUBLIC PROJECTS, AS DESCRIBED IN METRO GOVERNMENT CAPITAL PROJECTS BUDGETS SETTING FORTH THE TERMS AND CONDITIONS ON WHICH THE BONDS AND NOTES ARE TO BE ISSUED, AND PROVIDING FOR A COMPETITIVE ADVERTISED SALE THEREOF. DEFINING AND PROVIDING FOR THE RIGHTS OF THE HOLDERS OF THE BONDS AND NOTES AND PROVIDING FOR THE APPLICATION OF THE PROCEEDS THEREOF, AND TAKING OTHER RELATED ACTION RELATING TO THE ISSUANCE AND SALE OF THE BONDS AND NOTES. SECOND MOTION PROPERLY BEFORE US, WE ARE JOINED BY ANGIE DUNN WITH OMB AND AARON JACKSON IS IN THE AUDIENCE. WE MAY CALL HIM UP.

WE'LL SEE. SO, MISS DUNN. THANK YOU. ANGIE DUNN, CFO, OFFICE OF MANAGEMENT AND BUDGET, AS THE ORDINANCE READS, THIS IS THE THIS IS SEEKING AUTHORIZATION TO MOVE FORWARD WITH ISSUING BONDS, FROM THE FY 24 CAPITAL BUDGET. SO THESE WERE PROJECTS THAT WERE ALREADY APPROVED THROUGH THAT PROCESS. THE BONDS ARE SET TO GO TO SELL, PENDING APPROVAL, SEPTEMBER 25TH, AND IT'S FOR UP TO 97.9 MILLION. COLLEAGUES QUESTIONS. SO WHAT IS THE EXPECTED MATURITY DATE? WE THIS IS ON A TEN YEAR PAYBACK SCHEDULE. SO WE WERE ABLE TO, WE WORKED WITH OUR FINANCIAL ADVISORS. AND SO THIS IS A SERIES OF TEN YEAR BONDS, RATHER THAN 20. OKAY. THANK YOU. ONE LAST QUESTION, THEN, IS THE PROJECTED FY 25 BOND PAYMENT FOR THE 2024 A BOND ISSUE STILL EXPECTED TO BE 1,000,700 715,100. I STARTED ON PAGE 43. OR HAS IT? DO WE EXPECT A CHANG? ACCORDING TO MR. JACKSON. SLIGHTLY HIGHER. SLIGHTLY HIGHER. OKAY. OKAY, GREAT. THANK YOU. ANY OTHERS? COUNCILMAN ARTHUR. THANK YOU SO MUCH. TWO GENERAL QUESTIONS. HOW DOES TAX INCREMENT FINANCING IMPACT OUR BOND CAPACITY? IF AT ALL, IT DOESN'T REALLY IMPACT THIS PARTICULAR BOND ISSUE. THAT'S SORT OF A MORE THAT'S A MORE COMPLEX. I'D PROBABLY LIKE TO GET BACK TO YOU ON AN EXPLANATION WITH THAT. A LITTLE MORE COMPLEX ANSWER. AND THE OTHER QUESTION IS HOW DOES INFLATION IMPACT OUR BONDS? YEAH, I'M GOING TO ASK CHIP SUTHERLAND OUR BOND ADVISOR, TO STEP FORWARD ON THAT ONE. CHIP SUTHERLAND WITH BAIRD. MY COLLEAGUE KELLY MERCIK. I'LL ADDRESS THE SECOND QUESTION FIRST. ON INFLATION. INFLATION AND WHAT HAPPENS WITH INTEREST RATES ACROSS THE GLOBE. IMPACT MUNICIPAL BORROWING RATES, DIRECTLY. SO WHEN YOU SEE INTEREST RATES GOING UP, YOU CAN EXPECT YOUR BORROWING RATES AS A MUNICIPALITY WOULD GO UP AS WELL. BUT WHAT WE'VE SEEN OVER THE PAST SUMMER IS INTEREST RATES HAVE COME DOWN A LITTLE BIT THIS TEN YEAR FINANCING THA, IS BEING REFERENCED. THE EXPECTED BORROWING RATES LESS THAN THREE, 3.5%. IT'S TAX EXEMPT. SO, THE STRATEGY BEHIND THAT, NOT THAT YOU ASKED, WAS THAT, BECAUSE YOU DID TALK ABOUT CAPACITY IN TERMS OF TIF, THIS IS A WAY FOR, THE, THE, THE CITY TO OR METRO GOVERNMENT TO BORROW THE SAME AMOUNT OF MONEY, PAY IT

[00:10:06]

THE CAPACITY OF THE OF METRO WAS SUCH THAT IT COULD AFFORD TO MAKE THESE PAYMENTS AND GET IT DONE OVER QUICKER, SO INFLATION PLAYS DIRECTLY INTO INTEREST RATES, IF I'M ANSWERING THAT QUESTION, ON THE TIF ASPECT OF IT, IN TERMS OF CAPACITY, YOU KNOW, THAT DEPENDS ON I THINK THE FAMOUS SAYING IS IF YOU'VE SEEN ONE TIF, YOU'VE SEEN ONE TIF, IT DEPENDS ON HOW IT IS STRUCTURED. BUT TYPICALLY TIFS ARE SORT OF A BLOCK. AND, THE REVENUES FROM A NEW PROJECT OF THAT ENTITY ARE DEDICATED TOWARDS THE REPAYMENT OF A TIF, OF A, OF A BOND, A BORROWING AGAINST THAT. AND IT WOULDN'T IMPACT YOUR CAPACITY. IN THIS SITUATION, WE'RE, WE RECOMMENDED IN IN METRO IS USING THE GENERAL OBLIGATION TAX PLEDGE AS REPAYMENT FOR THE BONDS AND SO YOU THINK IN TERMS OF THE TAX BASE OF METRO IS THE STRENGTH OF OUR PLEDGE, WE WILL LEVY A TAX EFFICIENT TO PAY DEBT IF NECESSARY. SO THAT'S WHERE YOUR CAPACITY COMES FROM. THANK YOU.

SO MUCH. YES, SIR. THANKS FOR LETTING US IN. ANY OTHER QUESTIONS? COUNCILMAN PIAGENTIN, THANK YOU, MISTER VICE CHAIR. QUICK FOLLOW UP QUESTION. YOU SAID THE INTEREST WOULD BE SLIGHTLY HIGHER. CAN WE CAN WE QUANTIFY OR GIVE A RANGE ON THE DEFINITION OF THE WORD SLIGHTLY, PLEASE? I DON'T THINK WE HAVE THAT IN FRONT OF US SO WE CAN GET THAT TO YOU. YEAH. I THINK PUT IT THIS WAY. I WOULD LIKE TO KNOW THAT BEFORE WE, I MEAN, I I'LL TAKE YOUR WORD FOR IT THAT IT IS SLIGHTLY LET'S VOTE IT OUT TODAY. BUT I WOULD LIKE IT BEFORE NEXT THURSDAY. SO YOU KNOW, IF YOU KNOW MY DEFINITION IS SLIGHTLY MIGHT BE 1%. AND SOME KEVIN'S MAY BE 10%, I DON'T KNOW. I JUST THINK WE SHOULD BE A LITTLE MORE CLEAR THAN THAT. THANK YOU. I'M GOING TO ASK IF WE CAN GET. YEAH. I DON'T KNOW IF WE NEED AN EXACT, BUT IF HE'S GOT IT, GOOD. WE DON'T NEED AN EXACT, BUT IF WE'RE GOING TO SAY SLIGHTLY, WE'D LIKE TO KNOW SOME KIND OF A RANGE. SO IF I'M UNDERSTANDING THE CHIPS ARE GOING TO BAIRD, IF I'M UNDERSTANDING THE QUESTION CORRECTLY, WE JUST WANT TO KNOW IN IN FISCAL YEAR 25 WHAT THE PAYMENT IS GOING TO BE. IS THAT CORRECT? YES. THE ORIGINAL EXPECTED PAYMENT WAS 1,715,100. AND WE'RE TOLD IT'S GOING TO BE SLIGHTLY MORE. SO WE'RE CURIOUS WHAT THAT MEANS. IT'S SLIGHTLY MORE IN TERMS OF IT'S THAT RIGHT NOW WITH THE WAY WE'VE STRUCTURED THE DEBT SERVICE, THE PAYMENT IN FISCAL YEAR 2025, FISCAL YEAR IN 2025 WOULD BE AN INTEREST PAYMENT OF 2.5 MILLION. THE BORROWING RATE OF THE BONDS IS LOWER. SO WE WERE GOING TO DO A 20 YEAR BORROWING WITH A HIGHER INTEREST RATE, WHICH STRETCHES THINGS OUT, WE'RE DOING A SHORTER REPAYMENT OF DEBT, COMPRESSING IT, AT A LOWER INTEREST RATE, WHICH IS GOING TO SAVE METRO MONEY IN THE TOTAL REPAYMENT OF IT. OKAY. GREAT.

THANKS. MISTER CHAIR, COUNCILMAN PIAGENTINI. SO I HOPE WHAT I HEAR IS THAT BECAUSE TO ME, 1.7 TO 2.5 MILLION IS NOT SLIGHTLY. THAT'S, THAT'S THREE QUARTERS OF $1 MILLION, NUMBER ONE. BUT NUMBER TWO, I THINK WHAT I'M HEARING, THOUGH, AND IF IT'S ACCURATE, THEN IT WOULD MITIGATE MY CONCERNS, IS THAT THE 1.7 WAS BASED ON A 20 YEAR PAYBACK, AND INSTEAD WE'RE GOING AFTER A TEN YEAR BOND. SO THE ANNUAL INTEREST IS HIGHER, BUT THE OVERALL INTEREST IS LESS. IS THAT WHAT IS HAPPENING HERE? THE TOTAL REPAYMENT IN THIS STRUCTURE IS LESS THAN THE TOTAL REPAYMENT OF INTEREST IN THE PREVIOUS STRUCTURE THAT YOU ALL APPROVED. OKAY. CAN THEN LET'S DO THIS RIGHT AGAIN. I'LL TAKE YOUR WORD FOR IT. ALL RIGHT. AND WE DON'T WANT TO DO IT HERE. BUT IF YOU COULD SEND THAT THE DETAILS OF THAT TO US AGAIN BEFORE NEXT THURSDAY, JUST SO WE CAN TAKE A LOOK AT IT. BUT, YEAH, I THINK WE'RE ALL ON THE SAME PAGE, BUT YEAH. AND TO YOUR POINT, WHAT WE APPROVED IS NOT THE SAME STRUCTURE. SO I THINK WHAT WE NEED TO DO IS HAVE THE ORIGINAL STRUCTURE AND THEN THE NEW STRUCTURE. SO WE CAN SEE THE COMPARISON. I THINK THAT WILL HELP US OUT. BUT I, I BELIEVE YOU THAT IT WILL SHOW THAT IT'S LESS OVER TIME, WHICH I SUPPORT.

YEAH, BUT I JUST WANT THE DETAILS BEFORE THAT PLEASE. THANK YOU. THESE ARE ALL ESTIMATED, RIGHT, I JUST WANT TO BE REMINDED ABOUT BOND COUNCIL THAT THESE ARE COMPETITIVE BOND SALES SO THAT THE INTEREST RATE WILL BE SET BY A COMPETITIVE BOND SALE TO THE MARKETPLACE, WHERE WE PUT THE TERMS AND CONDITIONS OUT, AND THEY BID ACCORDINGLY ACCORDING TO INTEREST RATE AND THE INTEREST RATE THEY'RE GOING TO CHARGE. SO NEEDED ADVISED BY COUNCIL TO REMIND COUNCIL THAT. SO OKAY, SO BUT IT'S SAFE TO SAY WE'LL HAVE A PRETTY GOOD SENSE BETWEEN NOW

[00:15:03]

WE'LL TAKE IT. UNLESS THERE ARE OTHER QUESTIONS. TWO OTHERS. I'M SORRY, COUNCILMAN ARTHUR, IT'S THE URBAN SERVICES DISTRICT HAS A HIGHER TAX RATE TO COMPLY WITH HOUSE BILL 314. WOULD THAT IMPACT OUR BOND OBLIGATION? NO, SIR. THANK YOU. COUNCILMAN OWEN. SO NOT TO BELABOR IT TOO MUCH, BUT, CHIP, WE ALWAYS HAVE THAT OPTION, I WOULD GUESS TO SHORTEN OUR MATURITY AND REDUCE OR INCREASE OUR INTEREST RATE. REDUCE IN THIS CASE. WHAT CAN YOU GIVE US A LITTLE BIT MORE COLOR? JUST KIND OF IN GENERAL, WHAT GOES INTO MAKING THAT DECISION. BECAUSE I MEAN, IT IT AFFECTS A LOT OF DIFFERENT THINGS. RIGHT. WE'RE OBLIGATING MORE CASH FLOW IN THE SHORT IN THE SHORT TERM. AND JUST TWO MINUTES OF WHAT SOME COLOR ON THAT. HOW ABOUT ONE MINUTE.

ALRIGHT, THE WAY WE LOOK AT IT, WE WORK WITH WITH ANGIE AND AARON AND OUR TEAM AND WE LOOK AT THE OVERALL DEBT PROFILE OF, OF METRO, AND WE SEE ALL THE, YOU KNOW, YOU HAVE A LOT OF DIFFERENT BONDS OUTSTANDING FOR DIFFERENT PROJECTS. AND SO WE LOOK AT THEM IN THE AGGREGATE.

AND WHEN YOU STACK THEM ON TOP OF EACH OTHER, YOU HAVE A PAYMENT OF THIS, LET'S SAY NEXT YEAR. AND IT MIGHT BE THAT NEXT YEAR. AND THEN SOME BONDS PAY OFF AND IT GOES DOWN A LITTLE BIT. AND THEN IT'S LIKE THIS. AND SO IT'S SORT OF A STAIRCASE LOOKING DEBT STRUCTURE. SO FROM IF YOU THINK ABOUT IT, THERE'S TWO COMPETING INTERESTS FOR METRO. IF I'M MAKING A MINT, I GOTTA START TALKING FAST, CASH FLOW IS IMPORTANT BECAUSE YOU WANT TO ALWAYS BE ABLE TO AFFORD PROJECTS FOR A BUDGET, BUT ALSO NOT UNNECESSARILY PAYING INTEREST AND MAKING SURE YOU GET DEBT PAID OFF QUICKLY SO FUTURE COUNCILS CAN HAVE NEW PROJECTS. SO WHEN WE LOOKED AT IT AND WE RAN THE ANALYSIS AND WE LOOKED AT THE AGGREGATE DEBT OF METRO AND HOW THE PAYMENT SCHEMES ARE, METRO DOES A REALLY GOOD JOB. FINANCE IS A REALLY GOOD JOB OF MAKING SURE THAT DEBT IS REPAID QUICKLY. AND WHEN WE LOOKED AT IT THE WAY IT WORKS IS WE WORK WITH AARON AND WE'RE LIKE, HEY, HOW MUCH CAN CAN YOU ALL AFFORD IN YOUR BUDGET TO FOR A PAYMENT? AND WE WENT IN THE AGGREGATE.

THAT'S WHAT WE'RE TARGETING. AND THEN WE MAKE ALL THE OTHER PAYMENTS AFTER THAT GET PAID OFF AS QUICKLY AS POSSIBLE. SO WE LOOK AT HOW WE CAN TAKE A LONGER BOND ISSUE AND SHORTEN IT. AND SO THAT'S HOW THE SAUSAGE WAS SORT OF MADE VERY HELPFUL. ALL RIGHT. ANY OTHER QUESTIONS.

SEEING NONE, MADAM CLERK, PLEASE CALL THE RECORD TO REFLECT THAT WE'VE BEEN JOINED BY COUNCILWOMAN SHAMIKA PARISH. RIGHT, AT THIS POINT, IF THERE ARE NO OTHER QUESTIONS, THIS IS AN ITEM CALLING FOR A ROLL CALL. VOTE. MADAM CLERK, IF YOU PLEASE OPEN THE VOTING. COUNCILWOMAN FOWLER, HERE. COUNCILWOMAN PARISH. RIGHT YES. HEY. VICE CHAIR, YOU HAVE TEN YES VOTES.

THANK YOU. THIS WILL GO TO THE CONSENT BECAUSE IT WAS UNANIMOUS, TO COUNCILMAN PIAGENTINI POINT, IF WHEN WE GET THE NUMBERS BACK, IF THERE ARE ANY CONCERNS OR QUESTIONS, WE WILL, OF COURSE, MOVE IT OFF OF CONSENT SO WE CAN TAKE IT UP TO THE COUNCIL. SURE. THANK YOU.

[4. R-091-24     A RESOLUTION AUTHORIZING THE MAYOR TO ACCEPT UP TO $111,000,000 OF FUNDING FROM THE COMMONWEALTH OF KENTUCKY THROUGH THE DEPARTMENT FOR LOCAL GOVERNMENT (“DLG”), AUTHORIZING OR DIRECTING LOUISVILLE METRO GOVERNMENT TO EXECUTE ANY DOCUMENTS WHICH ARE DEEMED NECESSARY BY DLG TO CARRY OUT VARIOUS PROJECTS, AND AUTHORIZING THE MAYOR TO ACT AS THE AUTHORIZED CORRESPONDENT FOR THESE PROJECTS. Action Required By: March 2025 Sponsors: Rick Blackwell (D-12) Markus Winkler (D-17)]

DEPUTY MAYOR. NO PROBLEM, IT TAKES A VILLAGE, AS YOU KNOW, THIS IS. AS YOU ALL KNOW, WE WERE FORTUNATE ENOUGH TO GET A SIGNIFICANT SUM OF MONEY FOR CAPITAL PROJECTS FROM THE GENERAL ASSEMBLY OVER THE NEXT BIENNIUM. THIS IS THE RESOLUTION THAT YOU ALL NEED TO APPROVE TO ALLOW US TO RECEIVE THAT MONEY AND, BE HAPPY TO ANSWER ANY QUESTIONS. I THINK YOU ALL ARE FAMILIAR WITH THE PROJECTS THAT ARE INVOLVED AND LOOKING FORWARD TO THIS CONTINUED PARTNERSHIP.

HOPEFULLY WITH THE STATE GOING FORWARD. COUNCILMAN ARTHUR. THANK YOU. I'D LOVE TO CO-SPONSOR THIS BECAUSE THERE ARE SEVERAL PROJECTS IN OUR DISTRICT. I'D ALSO ENCOURAGE THE ADMINISTRATION GOING INTO EVERY LEGISLATIVE SESSION TO DO AS MUCH COLLABORATION AS YOU CAN WITH THE COUNCIL. SO WE'RE WELL AWARE OF WHAT PROJECTS AND PRIORITIES THAT YOU ALL HAVE WITH THE GENERAL ASSEMBLY. THANK YOU SO MUCH. CERTAINLY, COUNCILMAN PIAGENTINI. YEAH,

[00:20:05]

OKAY GOOD. SO THERE'S THERE IS A LIST FORTHCOMING. YES GREAT. THANK YOU. ANY OTHER QUESTIONS? SEEING NONE. THIS IS AN ORDINANCE. THIS IS A RESOLUTION. I'M SORRY. CALLING FOR A VOICE VOTE. ALL THOSE IN FAVOR SIGNIFY BY SAYING AYE. AYE. ANY OPPOSED? A EYES HAVE IT. I'M GOING TO DECLARE THAT IT WAS UNANIMOUS. AND THAT SAID, THIS WILL BE ALSO SENT TO THE CONSENT CALENDAR, UNLESS ANYONE ELSE HAS ANYTHING FOR THE COMMITTEE TODAY, WITHOUT AGENDA, WITHOUT OBJECTION, WE

[Adjournment Note: Agendas are followed at the discretion of the Chair. While an item may be listed, it does not mean all items will be heard and/or acted upon by the Committee.]