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THINK.[00:27:19]
THAT'S. WHAT I GET YOU TO BE ABLE TO DO THIS. METRO TV.E'RE GOING TO[00:27:36]
BE GOING IN 38 SECONDS. WE'RE GOING TO BE SETTING A SPEED RECORD HERE TODAY. SO[00:27:55]
LET'S GET READY. NO, NO, WE'RE NOT GOING TO SET THE TIMER YET. WE'RE SETTINIT. WE'RE GOING TO[00:28:05]
SET A TIMER. RIGHT. SERIOUSLY. ALL RIGHT. READY. GOOD AFRNOON. THI REGULAR[Call to Order]
MEETIN OF LABOR ENO ETINGS BEING HELD PURSUANT FIVE, A CHAIR AND I AM JOINED BY[Roll Call]
MY CO CHAIR, CRYSTAL BASS. ALSO IN ATTENDANCE ARE COMMITTEE MEMBERS. HERNDON. OWEN AND SEAN.JOINING US VIRTUALLY IS NO ONE. OKAY FIRST ITEM AGENDA. WILL THE CLERK, WILL THE CLERK PLEASE
[1. R-088-25 A RESOLUTION PURSUANT TO THE CAPITAL AND OPERATING BUDGET ORDINANCES APPROVING THE APPROPRIATION TO FUND THE FOLLOWING PROFESSIONAL SERVICES CONTRACT FOR LOUISVILLE METRO ECONOMIC DEVELOPMENT FOR FINANCIAL ADVICE ON COMPLEX FINANCIAL ARRANGEMENTS, DEAL STRUCTURES, AND TAX INCREMENT FINANCING (COMMONWEALTH ECONOMICS PARTNERS LLC- $108,000). Action Required By January 31, 2026 Sponsors: Ben Reno-Weber (D-8) ]
READ THE TITLE OF THE RESOLUTION? A RESOLUTION PURSUANT TO THE CAPITAL AND OPERATING BUDGET ORDINANCES APPROVING THE APPROPRIATION TO FUND THE FOLLOWING PROFESSIONAL SERVICE CONTRACT FOR LOUISVILLE METR DEVELOPMENT AND FINANCIAL ADVICE ON COMPLEX FINANCIAL ARRANGEMENTS. DEAL STRUCTURE AND TAX INCREMENT FINANCING. COMMONWEALTH ECONOMIC PARTNERS LLC, $108,000 READ IN FULL MOTION IN A SECOND. IS THERE ANY DISCUSSION? SPEAKER.GOOD AFTERNOON EVERYONE. I'M KATIE LIPPMANN WITH THE CITY'S ECONOMIC DEVELOPMENT CABINET.
THIS IS A CONTRACT RENEWING A CONTRACT WITH COMMONWEALTH ECONOMICS. THEY THIS CONTRACT IS PRIMARILY REGARDING OUR TAX INCREMENT FINANCE COMPLIANCE WORK THAT WE HAVE TO SUBMIT TO THE STATE. SO THEY HELP US TO COLLECT NECESSARY DOCUMENTS FROM OUR TIF PROJECTS AND HELP US GET ALL THE PAPERWORK FOR THE STATE SO WE STAY IN COMPLIANCE. CAN YOU TELL US WHY THIS IS A NON COMPETITIVELY BID CONTRACT? YES I CAN. SO WE HAVE BEEN USING COMMONWEALTH ECONOMICS FOR THIS WORK FOR SEVERAL YEARS BECAUSE THEY AS I MENTIONED, IT'S PRIMARILY REGARDING TIF COMPLIANCE AND HANDLING SENSITIVE INFORMATION REGARDING THESE PROJECTS. AND SO THEY HAVE BEEN HELPING US TO KEEP A GREAT TRACK RECORD ON THESE PROJECTS OVER THE LAST SEVERAL YEARS.
THEY'RE A SMALL LOCAL FIRM OUT OF LEXINGTON, VERY SPECIALIZED IN TERMS OF SPECIALTY WITH OUR KENTUCKY TOXICS AND INCENTIVES PARTICULARLY ACTUALLY CAME FROM THE KENTUCKY FINANCE CABINET.
THE PRINCIPALS DID WHEN THE TIF LEGISLATION WAS PASSED. SO THEY'RE EXTREMELY KNOWLEDGEABLE
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ABOUT THIS WORK. THEY HAVE ALL THE GREAT RELATIONSHIPS WITH THE STATE CABINET, AND THEY'VE BEEN KEEPING US ON TRACK IN THEIR ACCESS TO OUR DATA. AND THEY HAVE ACCESS TO OUR DATA AND THE PROJECT DATA. YES. IS THERE ANY FURTHER DISCUSSION? COUNCIL. THANK YOU FOR ALL YOUR WORK ON.ANY FURTHER DISCUSSION? OKAY. THIS IS A RESOLUTION REQUIRING A VOTE. A VOICE VOTE. ALL THOSE IN FAVOR, PLEASE SIGNIFY BY SAYING AYE. AYE. ALL THOSE OPPOSED? THIS ITEM IS PASSED ON TO THE CONSENT CALENDAR. IN TWO MINUTES AND 19 SECONDS. EXCELLENT. SORRY, I SHOULD HAVE TALKED FASTER, BUT I DID MY BEST. AREN'T Y'ALL MORE APPRECIATIVE THAT OUR. THIS COUNCIL BODY IS ACTUALLY A LITTLE BIT MORE FUN THAN SOME OF THE PAST? ALRIGHT, WELL, WE HAVE SET SOME METRICS FOR IMPROVEMENT. TWO MINUTES AND 19 SECONDS. YOU KNOW, THAT'S ALL RIGHT. WELL, THE APPROPRIATE INFORMATION WAS CONVEYED. LADIES AND GENTLEMEN, THANK YOU FOR BEING HERE. WE STAND ADJOURNED.
[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.]
THANK YOU. METRO TV, LET'S BE CLEAR THAT WE ARE ISSUING A CHALLENGE TO ANY OF MY FELLOW CHAIRS. AND A SHOUT OUT TO THE CLERK'S OFFICE. THANK YOU SO MUCH FOR PARTICIPATING.* This transcript was compiled from uncorrected Closed Captioning.