[3. R-098-25 A RESOLUTION SUPPORTING AND ENCOURAGING THE EXECUTION OF A RENEWABLE ENERGY CREDIT CONTRACT TO ADVANCE LOUISVILLE METRO GOVERNMENT’S GOAL OF 100% CLEAN ELECTRICITY BY 2030. Action Required By: February 14, 2026 Sponsors: Andrew Owen (D-9), Betsy Ruhe (D-21)]

READ THE TITLE OF THE ORDINANCE, A RESOLUTION SUPPORTING AND ENCOURAGING THE EXECUTION OF A RENEWABLE ENERGY CREDIT CONTRACT TO ADVOCATE TO ADVANCE LOUISVILLE METRO GOVERNMENT'S GOAL OF 100% CLEAN ENERGY, CLEAN ELECTRICITY BY 2030. READ IN FULL. MOTION. SECOND. THANK YOU.

IS THERE ANYONE HERE TO SPEAK TO THIS? FOR POTENTIALLY THE LAST TIME? TEARS. I CAN TEE IT UP AS THE SPONSOR, COUNCILMAN OWEN. THAT'D BE GREAT. GREAT. SO LET ME START BY SAYING THAT. THIS COUNCIL PASSED LEGISLATION PASSED SAYING THAT WE WERE GOING TO BE BECOME MORE ENERGY EFFICIENT, WE WERE GOING TO BECOME GREENER. WE WERE GOING TO BECOME MORE RESPONSIBLE. AND, YOU KNOW, WE HAVEN'T WE'VE TAKEN SOME PRETTY GOOD STEPS AS METRO GOVERNMENT, MOSTLY ON THE SIDE OF ENERGY EFFICIENCY. AND WE I THINK. SUSTAINABILITY, SUMATRA AND OTHERS WERE AT PARKS AND SUSTAINABILITY COMMITTEE TALKING TO US ABOUT PATHWAYS TO 2030. IN OTHER WORDS, HOW ARE WE GOING TO GET FROM HERE TO THERE? AND I THINK EVERYBODY RECOGNIZES ACKNOWLEDGES THAT IT'S GOING TO BE A CHALLENGE AND IT'S GOING TO TAKE KIND OF A MULTI-PRONGED APPROACH. AND WHAT WE'RE TALKING ABOUT TODAY IS ONE PIECE OF THAT APPROACH THAT ALLOWS US TO TAKE SOME STEPS RIGHT NOW. SO THOSE OF YOU WHO AND I'M SURE SUMITA WILL TALK ABOUT THIS, BUT THOSE OF YOU WHO WHO DON'T KNOW ABOUT RECS, THERE ARE RECS ARE NOT ALL CREATED EQUALLY. THERE ARE SOME THAT ARE MUCH BETTER THAN OTHERS. RECS CAN BE SOLD. MY UNDERSTANDING IS MULTIPLE TIMES. AND SO WE COULD BE BUYING RECS THAT HAD THAT THAT FROM A FACILITY THAT WAS CREATED DECADES AGO, THAT THE RECS HAD ALREADY BEEN SOLD 2 OR 3 TIMES TO SOMEBODY ELSE WHO WAS CLAIMING CLAIMING THOSE. WELL, NOT EXACTLY, BUT SO LET ME JUST TAKE A STEP BACK. I'LL LET SUMITA DO MOST OF THIS, BUT THERE ARE RECS THAT ARE GOOD AND RECS THAT ARE BAD. THIS IS A PROJECT THAT'S IN IS CLOSE TO OUR BACKYARD, AS WE'RE GOING TO FIND IT'S IN WESTERN KENTUCKY. THIS IS NEW SUSTAINABLE ENERGY COMING INTO THE GRID, WHICH IS ALWAYS A GOOD THING. AND I'LL REMIND IF I CAN REMIND EVERYBODY THAT THE WAY ELECTRICITY WORKS IS WE'RE ALL TAPPED INTO THAT GRID. AND SO, YOU KNOW, IF NEW SUSTAINABLE ENERGY COMES INTO THAT GRID, THAT'S A GOOD THING FOR ALL OF US. IT DOESN'T NECESSARILY HAVE TO BE CREATED, YOU KNOW, IN THE ALLEY OUT BACK TO BE TO BE GOOD ENERGY CREATED AND ISSUED TO THE NEW, NEW SUSTAINABLE ENERGY INTO THE GRID. SO WITH THAT SAID, I THINK I WILL TURN IT OVER TO THE EXPERTS WHO CAN BE MUCH CLEARER ABOUT THESE THINGS, BUT I WOULD HOPE THAT WE COULD SUPPORT THIS AS A MULTI-PRONGED APPROACH TO ACHIEVING OUR PATH TO 2030.

[00:15:04]

THANK YOU. ALL RIGHT, COUNCIL MEMBERS, THANK YOU FOR THE OPPORTUNITY TO BE HERE. MY NAME IS SUMITA RAO, AND I SERVE AS THE EXECUTIVE DIRECTOR FOR THE MAYOR'S OFFICE OF SUSTAINABILITY. I'M JOINED BY ZACHARY TYLER. I'M ZACHARY TYLER. I WORK AS THE ENERGY MANAGER FOR LOUISVILLE METRO WITH FACILITIES AND FLEET. SO IN 2021, I THINK IT WAS 2020, METRO COUNCIL PASSED A RESOLUTION TO GET TO 100% CLEAN ELECTRICITY FOR METRO OPERATIONS BY 2030, 100% CLEAN ENERGY FOR METRO OPERATIONS BY 2035. AND THAT INCLUDES ELECTRICITY, HEATING, COOLING AND TRANSPORTATION AND THEN 100% CLEAN ENERGY COMMUNITY WIDE BY 2040. SO WE'RE TALKING ABOUT THAT FIRST GOAL HERE OF GETTING TO 100% CLEAN ELECTRICITY FOR METRO OPERATIONS BY 2030. EVER SINCE THAT RESOLUTION WAS PASSED, OUR TEAMS HAVE BEEN WORKING HARD ON FIGURING OUT THE ROADMAP TO ACHIEVE THOSE GOALS. THE MOST COST EFFECTIVE AND SUSTAINABLE PATHWAY TO THAT STEP THAT WE CAN TAKE TOWARDS THAT GOAL IS ENERGY EFFICIENCY. BECAUSE, AS ZACH ALWAYS SAYS, THE CLEANEST KILOWATT IS THE ONE THAT WE DON'T USE. SO THE THROUGH THE WORK OF THE ENERGY TEAM, WE HAVE BEEN ABLE TO MAKE SIGNIFICANT STRIDES IN JUST USING LESS ENERGY THROUGH MORE ENERGY EFFICIENCY STRATEGIES AND METHODS THAT I BELIEVE HAS REDUCED OUR OVERALL ENERGY USAGE FROM BASELINE BY ABOUT 15% SINCE THAT HAS STARTED. AND THAT'S WHAT HAS SAVED METRO APPROXIMATELY $1 MILLION A YEAR THAT WE CAN NOW REINVEST INTO MORE ENERGY PROJECTS. SO THE NEXT BEST STRATEGY TOWARDS ACHIEVING THAT GOAL IS ROOFTOP SOLAR, WHICH IS THE MOST COST EFFECTIVE WAY TO PURCHASE CLEAN ENERGY. BUT WE DON'T HAVE ENOUGH ROOFTOP SOLAR CAPACITY TO BE ABLE TO FULLY MEET THE 100% CLEAN ELECTRICITY NEEDS. WE'RE CONSTRAINED BY THINGS LIKE THE RIGHT KIND OF ROOF THAT IS SHADED, THAT HAS THE RIGHT SOLAR EXPOSURE, AND ALSO ROOFS THAT ARE NEWER AND CAN SUPPORT SOLAR. SO BECAUSE OF THOSE CONSTRAINTS, WE'RE DOING WHAT WE CAN TO ADVANCE THE GOAL OF ROOFTOP SOLAR THROUGH THE SOLARIZE LOUISVILLE PROGRAM, IN PARTNERSHIP WITH THE FACILITIES AND FLEET ENERGY INNOVATION FUND. AND THAT'S SOMETHING THAT'S GOING TO BE A LITTLE BIT MORE INCREMENTAL. AND EVEN BEST CASE SCENARIO, WE SEE THAT BEING LIKE A VERY SMALL PERCENTAGE OF THE OVERALL CLEAN ENERGY THAT WE'RE GOING TO BE ABLE TO REACH. SO THE ONLY WAY WE CAN ACTUALLY GET TO 100% CLEAN ELECTRICITY AT THE SCALE NEEDED IS TO PURSUE SOME KIND OF UTILITY SCALE SOLAR PROJECT, BECAUSE WE ARE IN A TOUGH, STATE REGULATED UTILITY ENVIRONMENT, THERE'S NOT A LOT OF OPTIONS THAT A LOT OF OTHER STATES AND CITIES MAY HAVE TO PURCHASE CLEAN ENERGY THROUGH THE UTILITY ON THE MARKET, BUT, YOU KNOW, AN OFF THE OPTIONS THAT THERE ARE, LG OFFERS TWO OPTIONS. ONE OF THEM IS CALLED GREEN TARIFF OPTION TWO, WHICH IS ESSENTIALLY THEM BUILDING A SOLAR FIELD FOR A SPECIFIC CUSTOMER LIKE US. AND THAT'S SOMETHING THAT WE'VE HAD CONVERSATIONS WITH THEM ABOUT.

WE'VE LOOKED INTO GREEN TARIFF OPTION THREE, WHICH IS A MUCH MORE LARGER SCALE COST COMPETITIVE OPTION. BUT THAT'S NOT SOMETHING THAT WE CURRENTLY QUALIFY FOR AS A CUSTOMER. THE THIRD OPTION WOULD BE RENEWABLE ENERGY CERTIFICATES. SO HISTORICALLY, THAT'S NOT SOMETHING THAT WE WERE VERY PRIORITIZING BECAUSE AS SOME OF YOU MAY KNOW, RECS HAVE A REPUTATION OF GREENWASHING, WHICH IS THE TERM THAT PEOPLE USE TO SAY THAT IT'S NOT NECESSARILY THE MOST SINCERE STRATEGY TOWARDS REACHING THESE GOALS. HOWEVER, AS COUNCILMAN ANDREW OWENS SAID, ALL RECS ARE NOT CREATED EQUAL. IT IS POSSIBLE TO. RECS ARE NOT TYPICALLY SOLD MULTIPLE TIMES, BUT YOU COULD BE BUYING RECS FROM, FOR EXAMPLE, A WIND FACILITY IN ILLINOIS THAT WAS BUILT TEN YEARS AGO. THAT'S STILL GENERATING ENERGY AND YOU'RE NOT REALLY HELPING THAT PROJECT COME INTO EXISTENCE. BUT YOU ARE, YOU KNOW, YOU'RE JUST BUYING THE RECS OF THE MARKET. SO WE WOULD CONSIDER THOSE LOWER QUALITY RECS. THE TERM ADDITIONALITY BASICALLY REFERS TO WHEN YOU HAVE A HIGHER QUALITY REC, WHERE YOUR PARTICIPATION IN THE PROJECT AS A REC PURCHASER ACTUALLY CONTRIBUTES TO THE PROJECT COMING TO FRUITION, AND IS A MUCH MORE MEANINGFUL WAY TO MAKE THIS INVESTMENT. SO RECENTLY WE WERE APPROACHED BY THIS OPPORTUNITY. IT IS A IT'S A IT'S A LARGE UTILITY SCALE PROJECT THAT BASED IN WESTERN KENTUCKY AND HENDERSON COUNTY. IT IS ON A RECLAIMED COAL MINE. SO IT WAS FORMERLY USED FOR ENERGY GENERATION IS GOING TO CONTINUE TO BE USED FOR THAT PURPOSE.

THEY ALREADY HAVE THE PERMITS AND OTHER THINGS NEEDED. TYPICALLY, A LOT OF SOLAR PROJECTS GET STUCK IN THE PIPELINE BECAUSE OF SOME OF THOSE CHALLENGES. THE COMMUNITY THERE ALREADY HAS APPROVED IT. THEY WANT THE PROJECT. IT'S GOING TO BE PROVIDING ELECTRICITY TO A LOCAL OFFTAKER, AND WE'RE GOING TO BE COMING IN PURCHASING THE RECS AND HELPING FINANCE THAT. THIS IS NOT SOMETHING THAT'S GOING TO BE THAT'S GOING TO REQUIRE ANY APPROPRIATION UNTIL THE NEXT FISCAL YEAR. SO FY 27 IS WHEN WE WOULD NEED TO ACTUALLY MAKE A

[00:20:01]

BUDGETARY COMMITMENT. WE HAVE IN THE APPENDIX A OF THE RESOLUTION SOME DETAILS OF WHAT THE FINANCIALS ARE CURRENTLY WOULD COST UP TO $700,000 A YEAR. AND FOR CONTEXT, OUR ELECTRICITY ELECTRIC UTILITY BILLS ARE ABOUT 15 MILLION A YEAR RIGHT NOW. SO THAT WOULD HELP US GET TO 100% CLEAN ELECTRICITY. AND THE THING IS THAT AS WE TRY TO IMPLEMENT MORE OF THESE LOCALLY MEANINGFUL PROJECTS LIKE MORE ENERGY EFFICIENCY, ROOFTOP SOLAR OR OTHER FORMS OF UTILITY SCALE, WE CAN ALWAYS SELL THE RECS WE'RE NOT USING AND KIND OF TAPER OUR DEPENDANCE ON THAT OVER TIME. SO BECAUSE THIS IS BUT BECAUSE THIS IS, YOU KNOW, TO GET THAT ADDITIONALITY CLAIM, WHICH MEANS TO BE ABLE TO SIGN THIS CONTRACT AND PARTICIPATE IN THE PROJECT BEFORE THEY START CONSTRUCTION, WE DO NEED TO SIGN THE CONTRACT NOW, SOON, WITHIN THE NEXT FEW WEEKS. AND BECAUSE OF THAT, AND BECAUSE THE BUDGET ALLOCATION IS GOING TO BE UNTIL NEXT YEAR, THIS IS KIND OF A UNIQUE SITUATION WHERE THE MAYOR WANTED TO MAKE SURE THAT HE GOT COUNCIL SUPPORT IN ORDER TO SIGN THIS, AND KNOWING THAT THAT'S GOING TO BE SOMETHING THAT'S IN THE NEXT BUDGET. SO THAT IS JUST A QUICK OVERVIEW, BUT HAPPY TO ANSWER ANY MORE QUESTIONS. THANK YOU SO MUCH, COUNCILMAN BACHON. THANK YOU, THANK YOU, THANK YOU CHAIR. SO JUST FOR ME TO UNDERSTAND A LITTLE BIT BETTER. SO THIS YEAR WE'RE SIGNING OR WE'RE APPROVING THE ABILITY TO, TO RECEIVE RECS FOR WHAT WILL BE A FISCAL BUDGETARY CONTRIBUTION NEXT YEAR OF $700,000. IS THAT CORRECT? YES. WHAT IS THE ROI ON THAT $700,000. SO THERE IS NO RETURN. THIS WOULD JUST BE AN EXPENDITURE THAT WOULD ALLOW US TO CLAIM GETTING TO 100% CLEAN ELECTRICITY. SO THERE WOULD BE NO SAVINGS ASSOCIATED WITH IT.

SO ME, JUST IN CONTEXT, THIS IS LIKE BUYING MY RETIREMENT TIME, RIGHT? OR OF SOME SORT. RIGHT.

LIKE IF I WAS TO LOOK AT IT IN THAT, IN THAT SAME SCOPE AS IF I WAS GETTING READY TO RETIRE AND I WANTED TO BUY THE LAST THREE YEARS OUT OF MY RETIREMENT, I WOULD PAY, PAY $700,000 TO BUY MY LAST THREE YEARS OUT. RIGHT? IS THAT I MEAN, IT'S BUYING CLEAN ENERGY THAT WE REALLY DON'T GET TO USE. I'M TRYING TO UNDERSTAND. SURE. YEAH. NO, THAT'S A GOOD QUESTION. IT'S SO IT'S ULTIMATELY OUR ABILITY TO SAY, HEY, WE ARE MAKING A FINANCIAL CONTRIBUTION AND WE'RE INVESTED IN THIS GOAL THAT THAT WE'VE SET OUT IN THE RESOLUTION. AND IT IS A COST EFFECTIVE WAY TO BE ABLE TO DO THAT. AND ULTIMATELY, WE CAN SAY THAT WE HELPED CONTRIBUTE TO THIS PROJECT THAT IS HAVING AN IMPACT ON THE REGION. BASICALLY, IN TERMS OF JOB CREATION, CLEAN AIR, THINGS LIKE THAT. JUST AGAIN, IN MY OPINION, I FEEL LIKE $700,000 COULD BE USED TOWARDS SOLAR PANELS RATHER THAN BUYING ENERGY THAT WE'RE NOT GOING TO BE ABLE TO USE. AND MAYBE I'M READING THIS WRONG. CAN YOU HELP ME WRAP MY HEAD AROUND THIS? BECAUSE I'M HAVING A HARD TIME SAYING YES TO SPENDING $700,000 NEXT YEAR ON SOMETHING THAT WE'RE PROBABLY GOING TO HAVE TO SPEND $700,000 EVERY YEAR AFTER THAT. IS THAT CORRECT? YES. YEAH. SO I'LL HOP IN HERE AS AS COUNCILMAN ANDREW OWEN ALLUDED TO BEFORE, THE ELECTRICITY GRID IS NOT GOING TO FUNCTION IN THE SAME WAY WHERE YOU HAVE LIKE A WATER UTILITY WITH A DISCRETE SOURCE AND A DISCRETE END USER. IT IS MORE OF A MIX. SO AT ANY GIVEN POINT THERE IS NO TRACKING WHERE YOUR ACTUAL ELECTRICITY IS COMING FROM. IT DOES NOT MEAN THAT IT'S COMING FROM THE CLOSEST GENERATION TO YOU. SO WHAT THIS WOULD HELP ACCOMPLISH IS IT WOULD PUT MORE CLEAN ENERGY INTO THE GRID MIX IN THE STATE OF KENTUCKY, WHICH RANKS AMONG THE LOWEST STATES IN RENEWABLE UTILITY ELECTRICITY GENERATION. IT WOULD ALLOW US TO CLAIM THAT ENERGY AS MEETING OUR CLEAN ENERGY COMMITMENTS. SO IT'S NOT JUST, YOU KNOW, A FINANCIAL CONTRIBUTION, BUT IT IS A WAY OF MEETING OUR GOAL. IT DOESN'T MEAN IT'S THE END ALL BE ALL OF ENERGY, CLEAN ENERGY STRATEGIES, BUT IT WOULD SATISFY THAT 2030 COMMITMENT. AND IF I CAN ADD TO YOUR QUESTION ABOUT WHAT IF WE INVESTED THE 700,000IN ROOFTOP SOLAR, FOR EXAMPLE, I THINK THAT'S A GOOD QUESTION TO ASK.

AND BASICALLY, BECAUSE OF THE ECONOMIES OF SCALE OF BUILDING A UTILITY SCALE SOLAR PROJECT, THE 700,000 WOULD GO A LOT FURTHER COMPARED TO THAT. SO, FOR EXAMPLE, THE $700,000 WOULD MAYBE HELP US PUT SOLAR PANELS ON, SAY LIKE FIVE BUILDINGS, TOPS VERSUS IN THIS SITUATION, IT'S HELPING BRING ONLINE ABOUT 35MW OF SOLAR, WHICH IS A MUCH LARGER QUANTITY AND WOULD HELP US GET TO OUR 100% GOALS MORE EFFICIENTLY. SO IS IT SAFE TO SAY THIS IS LIKE THE CRYPTO OF ENERGY? BECAUSE YOU SAID YOU CAN SELL IT BACK? WHAT WE DON'T USE, CORRECT? YES. CAN WE SELL IT

[00:25:05]

BACK FOR MORE THAN $700,000? TYPICALLY NOT, BECAUSE THE IT COSTS A LITTLE BIT MORE TO GET THE ADDITIONALITY CLAIM, WHICH MEANS YOU'RE GETTING IN AT THE EARLIER STAGE OF THE PROJECT, WHICH MAKES IT A HIGHER QUALITY REC. SO IN A FUTURE YEAR, WE WERE TO SELL SOME OF THE RECS.

IT WOULD BE AT A SLIGHTLY REDUCED COST, BUT WE COULD STILL RECOVER SOME OF IT. THANK YOU.

COUNCILMAN OWEN. YEAH. SO AGAIN, I WANT TO REITERATE THAT THIS IS A MULTI-PRONGED APPROACH, AND THIS IS ONE PIECE OF IT. AND I ALSO WANT TO REITERATE WHAT THESE GUYS WERE SAYING, THAT IT'S ALMOST AS IF WE'RE TURNING A FAUCET OVER HERE IN WESTERN KENTUCKY. IT'S BRINGING SUSTAINABLE ENERGY ONTO THE GRID. ARE WE USING THAT SUSTAINABLE ENERGY HERE? MAYBE.

MAYBE NOT. IT'S TOO HARD TO TRACK, BUT BECAUSE WE'RE WE'RE INVESTING IN THE FACILITY THAT'S BRINGING THAT SUSTAINABLE ENERGY ONLINE, THEN THAT'S WE'RE CLAIMING THAT THAT AS AN INVESTMENT IN SUSTAINABLE ENERGY. AND I THINK IT'S A REAL CLAIM THAT WE SHOULD BE PROUD OF AND THAT WE SHOULDN'T HAVE TO WE SHOULDN'T HAVE TO NECESSARILY INVEST IN THAT IN IN THE BACK ALLEY TO CONNECT TO THE BUILDING. WE'RE BASICALLY DOING IT HERE. IT'S COMING INTO THE GRID. AND BECAUSE IT COMES INTO THE GRID, WE'RE CONNECTED TO SOMETHING CALLED MISO, WHICH IS A THE MIDWESTERN GRID THAT GETS ENERGY FROM ALL OVER THE PLACE. AND THEN SO IT'S IMPOSSIBLE TO TRACK THAT YOU'RE USING ANY SPECIFIC SOURCE OF ENERGY WINDMILL WATER POWER, HYDROPOWER, WHATEVER. IT'S IMPOSSIBLE TO TRACK. BUT BECAUSE OF THE ADDITIONALITY PART OF THIS, WE'RE INVESTING IN THIS FACILITY THAT'S BRINGING NEW SUSTAINABLE ENERGY ONLINE. SO IN MY IN MY OPINION, BECAUSE OF THE TYPE OF RECORD IT IS, IT IS NOT GREENWASHING. IT IS ACTUALLY ADDING NEW SUSTAINABLE ENERGY TO THE GRID. THAT'S NUMBER ONE. AND NUMBER TWO IS AND I THINK WE ALL SHOULD BE ABLE TO GET ON BOARD. WE'RE BEING INCREDIBLY RESTRAINED BY THE STATE LEGISLATURE AND BY THE PSC IN THIS CASE. THERE ARE VERY FEW STATES ANYWHERE ELSE ANYMORE WHERE THERE'S AN ENTIRE MONOPOLY ON GENERATION OF POWER. INDIANA DOESN'T HAVE ONE. YOU KNOW, YOU CAN GENERATE POWER AND SELL IT TO THE GRID. AND SO WE NEED TO AS, AS A GROUP, GO TO THE PSC AND SAY WE WANT TO DO THIS GREEN TARIFF. THREE I THINK IT IS. AND THE REASON WE DON'T QUALIFY FOR IT NOW IS BECAUSE WE'RE NOT A BIG ENOUGH USER. BUT THERE'S DISCUSSION OF US JOINING WITH METRO GOVERNMENT, JOINING WITH SOME OTHER LARGE USERS TO, TO KIND OF ADD OUR OUR TOTAL USE TOGETHER WHERE WE WOULD QUALIFY FOR THE GREEN TARIFF. AND AT THAT POINT WE COULD GO AND BUILD OUR OWN INDUSTRIAL SCALE SOLAR. SO THIS IS A MULTI-PRONGED APPROACH THAT WE'RE GOING TO, THAT WE'RE GOING TO GROW, THAT WE'RE GOING TO GO DOWN. I REALLY THINK IT'S IMPORTANT THAT ALL OF US ARE ON THE SAME PAGE THAT WE NEED TO APPROACH THIS THAT WAY, BECAUSE THE TRUTH IS, WE'RE NOT GOING TO BE ABLE TO ACHIEVE THOSE 20, 30 GOALS UNLESS WE'RE ALLOWED BY THE PSC TO DO INDUSTRIAL SCALE SOLAR GENERATION. AND SO THAT'S THE MULTI-PRONGED APPROACH THAT I'M HOPING WE CAN ALL GET ON BOARD WITH TO, TO, TO, YOU KNOW, DO RECS, ALONG WITH GENERATING INDUSTRIAL SCALE SOLAR. THANK YOU. COUNCILMAN BASS. CURRENTLY I DON'T THINK WE'RE ALL ON THE SAME PAGE JUST BECAUSE I FEEL LIKE AT SOME, YOU KNOW, I'M IGNORANT ABOUT THIS. SO I NEED MORE KNOWLEDGE AND MORE INFORMATION. I FEEL LIKE KIND OF RIGHT NOW, IT'S GOT THAT FEEL THAT WE'RE JUST EXPECTED TO AGREE TO AGREE TO SAVE FACE. SO WE LOOK GOOD. LET'S PAT OURSELVES ON THE BACK THAT WE'RE GOING TO GIVE THIS MONEY UP. AND IT STARTS AT 700 000 NEXT YEAR TO BE 700,000, NEXT YEAR TO BE A MILLION. BUT IF OUR CITY ISN'T, YOU KNOW, BENEFITING FROM IT AND WE'RE NOT GETTING I MEAN, I DON'T WANT TO PAY TO HAVE MY NEIGHBOR'S HOUSE CLEAN FOR MINE JUST TO CONTINUE TO GET DIRTIER. SO I THINK WE GOT TO LOOK AT SOME DIFFERENT ANGLES OF IT. SO, OR MAKE US UNDERSTAND IT A LITTLE BIT BETTER BEFORE WE CAN SUPPORT IT. YEAH. YEAH, THAT'S A GREAT QUESTION. AND TO CLARIFY ON THAT. SO EVEN IF LG AND WE WERE GOING THROUGH LG AND, AND WANTED TO BUILD SOMETHING THAT'S MORE REGIONAL ON OUR GRID, THEY WOULD ULTIMATELY SITE SOMETHING IN A RURAL COUNTY AS, AS THEY HAVE WITH OTHER SOLAR PROJECTS. AND THIS IS BECAUSE ULTIMATELY THEY DON'T WANT TO PAY THE LAND PREMIUM THAT THEY WOULD HAVE TO PAY IN ORDER TO SITE SOMETHING LIKE THAT IN JEFFERSON COUNTY. SO ULTIMATELY, EVEN IF LG DOES IT, EVEN IF WE TRY TO DO A LOCAL PROJECT, WE'RE PROBABLY LOOKING AT THE OUTSKIRTS OR OTHER COUNTIES AT BEST. SO THAT IS SOMETHING TO KEEP IN MIND. AND THE OTHER THING IS THAT WE HAVE KIND OF BEEN TRYING TO MONITOR THESE OPPORTUNITIES OVER THE YEARS, AND WE SEE A LOT OF THESE PROJECTS IN ILLINOIS AND CALIFORNIA AND OTHER TYPES OF PLACES. BUT TO HAVE A KENTUCKY BASED PROJECT THAT IS, THAT IS MEANINGFUL, THAT HAS THE LOCAL COMMUNITY BUY IN IS VERY RARE. AND THAT'S ONE OF THE REASONS THAT WE'RE RECOMMENDING, YOU KNOW, LOOKING AT TAKING A LOOK AT THIS OPPORTUNITY SERIOUSLY,

[00:30:03]

BECAUSE IT DOESN'T COME BY VERY OFTEN TO INVEST IN SOMETHING THAT'S GOING TO BENEFIT THE STATE. CAN I ASK A REALLY, REALLY DUMB QUESTION? SO WE ARE GOING TO SPEND $700,000. WE ARE GETTING $700,000 WORTH OF POWER OUT OF THIS. IS THAT CORRECT? YES, YES. AND ALSO JUST TO CLARIFY, IT IS GOING TO BE A FLAT, YOU KNOW, 700,000 AT MOST. WE CAN STILL NEGOTIATE THAT PRICE, BUT THAT'S, THAT'S WE DON'T EXPECT IT TO EXCEED THAT. AND THAT'S GOING TO BE A FLAT ANNUAL RATE FOR THE TEN YEAR TERM OR WHATEVER TERM DURATION WE CHOOSE. IF I COULD ELABORATE ON THAT. THE RENEWABLE ATTRIBUTES OF CLEAN ENERGY ARE BOUGHT AND SOLD AND TRADED SEPARATELY FROM THE DELIVERY OF ELECTRICITY TO A FACILITY, ANY ENTITY, ANYWHERE THAT IS CLAIMING A MEETING, A 100% CLEAN ENERGY GOAL HAS DONE SO THROUGH THE PURCHASE AND RETIREMENT OF RECS. AND THAT'S TRUE EVEN IF THAT ENERGY WERE GENERATED ON SITE OR SOLD DIRECTLY BY THEIR LOCAL UTILITY. THE ONLY MECHANISM TO USE CLEAN ENERGY IS THROUGH THE PURCHASE OF THE REC COMMODITY. SO THIS IS THE SAME STRUCTURE. IT'S JUST THAT IT'S SEPARATED FROM THE CONTRACT THAT IS DELIVERING THE CLEAN ENERGY TO DELIVERING ENERGY TO OUR FACILITY, BECAUSE WE ARE STILL BOUND BY STATE REGULATION TO PURCHASE THROUGH LGA. AND AN OPPORTUNITY IS NOT ARISEN. THAT HAS BEEN A COST COMPETITIVE OPPORTUNITY. WE ARE LOOKING TO PURCHASE THE RIGHTS TO THE CLEAN ENERGY AND ALSO MAKE SURE IT HAS THAT ADDITIONALITY CLAIM OF BRINGING ADDITIONAL CLEAN ENERGY ONTO THE KENTUCKY GRID, WHERE IT IS EXTREMELY HARD TO FIND THOSE OPPORTUNITIES. SO THE WAY THAT WE SHOULD BE LOOKING AT THIS IS THIS IS ESSENTIALLY THE EQUIVALENT OF CREATING A FIELD NEXT TO US IN A MORE PRICE EFFECTIVE WAY. SO IT IS NOT IT IS AS THOUGH WE WERE, YOU KNOW, I'LL TAKE THE ROOFTOP SOLAR PIECE, BUT THIS IS SORT OF A ROOFTOP SOLAR LIKE INVESTMENT.

WE ARE USING THIS TO GENERATE, TO CREATE NET NEW ELECTRICITY THAT WE WILL THEN UTILIZE, RECOGNIZING THAT THE WAY THAT ENERGY GETS UTILIZED IS NOT ONE FOR ONE, IT'S ACTUALLY HERE VERSUS THERE. THAT'S CORRECT. AND ESSENTIALLY TELEPORTING A SOLAR GRID FROM WHERE IT IS GOING TO BE CREATED TO BE ABLE TO BE ACCESSED BY US. YES, YES, WHILE STILL ENSURING THAT THAT NEW GRID CAPACITY IS STILL REGIONAL. IT'S STILL IN THE STATE WHERE WE'RE SEEKING TO INCREASE GRID PENETRATION. RIGHT. WE'RE NOT DOING THIS IN ALASKA. THERE'S SORT OF AN ADDED BENEFIT TO THIS, BUT THEORETICALLY WE COULD BE DOING THIS IN ALASKA. AND FROM OUR PURPOSES, WE'RE REDUCING OUR ELECTRICAL BILL BY THIS AMOUNT. WE'RE JUST DISPLACING WHERE WE'RE SPENDING THAT MONEY. WE'RE NOT ADDING NET NEW TO OUR UTILITY SPEND. IS THAT CORRECT? WELL, WE ARE ADDING A NEW COST TO BUY THE RECS. IT ISN'T DISPLACING ENERGY COSTS, BUT THE OTHER STRATEGIES WE TALKED ABOUT LIKE THE ENERGY EFFICIENCY, THOSE ARE THINGS THAT ARE GOING TO BE COST SAVING, RIGHT. SOME MORE SIMILAR TO ROOFTOP SOLAR LIKE WE'RE INVESTING IN THIS, RIGHT? NET NEW SOLAR NET NEW ENERGY IS BEING CREATED. WE ARE THEN GOING TO BE THE BENEFICIARY OF THAT. I'M JUST MAKING SURE I UNDERSTAND WHAT WE'RE TALKING ABOUT. YES, YES. AND ALSO I'LL JUST ADD THAT WHEN YOU'RE TALKING ABOUT THE SCALE OF A UTILITY STATE LEVEL IS AS AS LOCAL AS IT GETS. SO UNLESS YOU HAVE, YOU KNOW, SOLAR ON YOUR ROOF THAT'S DIRECTLY FEEDING INTO A BATTERY SYSTEM, YOU'RE NOT DIRECTLY USING THOSE ELECTRONS. SO YEAH. GOT IT.

OKAY. TO COMPARE AND CONTRAST WITH WHAT SOMETHING THROUGH LGA MIGHT LOOK LIKE IN THE FUTURE, SHOULD THAT OPTION BECOME AVAILABLE. IF LGA WERE TO BUILD SOMETHING ON OUR BEHALF, IT DOES NOT NECESSARILY GUARANTEE THAT IT IS CLOSER. AS OF NOW, CURRENT INDICATIONS ARE THAT COST WOULD LOOK A LOT HIGHER, AND EVEN IN THAT SCENARIO, THE MECHANISM THROUGH WHICH WE CLAIM CLEAN ENERGY FOR SOMETHING THAT LGA WERE TO BUILD WOULD STILL BE THROUGH THE PURCHASE OF RECS. SO A CONTRACT WITH LGA WOULD STILL BE TRANSFERRING RECS TO US. LG WOULD BE THE OWNER OF THAT SOLAR ASSET, BUT THE MECHANISM THROUGH WHICH WE'RE GETTING THE CLEAN ENERGY IS STILL THROUGH RECS.

GOTCHA, COLLEAGUES. YES, COUNCILMAN BASTIAN, I STILL FEEL LIKE WE NEED TO KIND OF. I MEAN, UNTIL ALL THESE ROOFTOPS ARE FULL, THEN I GUESS WE COULD HAVE THIS CONVERSATION BECAUSE I FEEL LIKE I DON'T UNDERSTAND WHY WE'RE BUYING CREDIT RIGHT NOW, AND FORTUNATELY, I JUST DON'T.

THIS IS A GREAT IDEA. I JUST DON'T THINK IT'S THOUGHT ALL THE WAY THROUGH YET. I JUST DON'T THINK WE'RE QUITE THERE YET. SO THAT'S KIND OF WHERE MY SUPPORT LIES ON THIS AT THIS TIME, COUNCILMAN. THANK YOU, MR. CHAIR. AS THE CHAIRMAN OF THE PARKS AND SUSTAINABILITY COMMITTEE, YOU KNOW, I'M IN FULL SUPPORT OF SUSTAINABILITY IN THE FACT OF, LIKE, SOLAR PANELS AND DOING IT THE RIGHT WAY AND ENERGY EFFICIENCY AND CHARGING YOUR YOUR TESLA AND THESE

[00:35:03]

THINGS. I'M NOT IN SUPPORT OF WRITING A $700,000 CHECK FOR A PIECE OF PAPER THAT SAYS, WE ARE CLEAN OF THIS ENERGY THAT WE'RE NEVER GOING TO USE. YOU KNOW, ESSENTIALLY, WE'VE PASSED A RESOLUTION TO TAKE STEPS TO REDUCE EMISSIONS. IT DOES NOT CHANGE ANY OF OUR DECISIONS OR REDUCES ANY EMISSIONS HERE. SO IN THAT SENSE, I'M I'M A NO TO THIS BECAUSE WHETHER I DON'T UNDERSTAND IT WELL ENOUGH OR I JUST DON'T THINK IT IS OUR IT IS FIDUCIARY FISCALLY RESPONSIBLE TO MOVE FORWARD IN THIS DEAL. SO COUNCILMAN, WHAT WOULD YOU THINK ABOUT THE IDEA OF CONTINUING TO HAVE SOME OF THESE QUESTIONS ANSWERED AND ADDRESSED AND BRING THIS BACK UP IS THAT WE HAVE TO SIGN THAT WE WANT THE MAYOR WANTS TO GET SOMETHING SIGNED SO THEY CAN GO AHEAD AND GET HE WANTS TO HE WANTS TO HAVE THE COUNCIL WEIGH IN, HOPEFULLY IN SUPPORT, SO THEY CAN GO AHEAD AND SIGN AN AGREEMENT ON THESE RECS. THAT HAS TO HAPPEN IN IN FAIRLY SHORT ORDER, WHAT'S FAIRLY SHORT ORDER. AND THEY BASICALLY I MEAN WE TOLD THEM THAT THE EARLIEST WOULD BE THE AUGUST 28TH AND THEY AND THE CONTRACTOR HAS AGREED TO HOLD THE RECS FOR US UNTIL THAT TIME SO WE COULD ASK FOR AN EXTENSION BEYOND THAT. BUT AS OF NOW, THAT ISN'T GUARANTEED. THE 28TH.

OKAY. AND THAT WOULD BE FOR THE FULL COUNCIL MEETING ON THE 28TH. I MEAN, I HAVE REAL CONCERNS ABOUT THIS RESOLUTION PASSING AT THIS MOMENT, AND SO I HAVE SOME HESITATION TO TRY TO HIT THAT DEADLINE. YEAH, WE COULD TRY TO PASS IT OUT OF COMMITTEE AND THEN HAVE THAT THOSE QUESTIONS BEFORE COUNCIL. BUT I REALLY HATE DOING THAT. I DON'T I THINK IT'S IMPORTANT THAT WE GO AHEAD AND VOTE ON IT, AND WE CAN HAVE CONVERSATIONS BETWEEN NOW AND NEXT THURSDAY.

BUT I THINK IT'S IMPORTANT FROM THE TIMELINE THAT'S BEEN ESTABLISHED THAT WE GO AHEAD AND DO THAT. AND I THINK I'D RATHER GO AHEAD AND VOTE ON IT AND PASS IT OUT OF COMMITTEE AND THEN SEE WHERE WE ARE. WHEN YOU SHOW UP ON THE STREET. NO, BUT IF YOU'D LIKE TO SPEAK, I'M HAPPY TO.

COUNCILMAN BENSON. THANK YOU. THIS. THIS 750,000, $750,000. HOW MUCH DO WE PAY A YEAR NOW? APPROXIMATELY $14 MILLION. 14 TO 15 MILLION. IT'S BEEN $14 MILLION A YEAR NOW IN IN ELECTRICITY AND UTILITIES. ELECTRICITY AND GAS SERVICE. ELECTRICITY. BE CLOSER TO 12.5 MILLION. AND SO THIS IS END UP BEING IT'S SUPPOSED TO BE CHEAPER. WE'RE SUPPOSED TO BE GETTING A BETTER DEAL. YOU KNOW, I, I'M LIKE EVERYBODY SAYS, YOU KNOW, WHY WOULDN'T WE WANT TO DO SOMETHING THAT IT'S CHEAPER AND BETTER FOR THE, FOR SOCIETY? NOW, I KNOW THAT MOST PEOPLE DON'T THINK GAS IS NATURAL. GAS IS A CHEAP ENERGY OR A CLEAN ENERGY. BUT TO ME IT'S PRETTY CLEAN AND WE HAVE A LOT OF IT. AND SO I DON'T KNOW IF LIKE SOME OF THEM SAID ALREADY. WE DO. YOU KNOW, WHAT WE DID SEVERAL YEARS AGO SAYING, HEY, LET'S GO GREEN. LET'S, LET'S MAKE SURE WE MAKE SURE THAT WE MAKE THE ENVIRONMENT BEST WE CAN. THERE'S SOMETHING COMING ON. SO MUCH WITH THESE, THESE DATA CENTERS AND ELECTRICITY. WE'RE GOING TO NEED A LOT. AND SO, I DON'T KNOW, I'M KIND OF UP IN THE AIR FOR THIS TOO. THANK YOU. ALL RIGHT. SO I THINK IN THE INTEREST OF TIME AND I UNDERSTAND THE DEADLINE, LET'S COMMIT THAT WE'RE GOING TO SPEND SOME REAL TIME AND ENERGY GETTING ALL OF THESE QUESTIONS ANSWERED. AND I'D LIKE TO PROPOSE THAT WE MOVE THIS FORWARD, BUT WITH THE FULL COMMITMENT THAT WE ARE GOING TO TAKE THE TIME THAT WE NEED AT THE COUNCIL LEVEL TO ADDRESS THIS CHAIR. SORRY. I MEAN, I FEEL LIKE IT WOULD BE RESPECTFUL. COUNCILWOMAN MCCRANIE TO LET HER SPEAK. YES, MA'AM. COUNCILWOMAN. THANK YOU, I APPRECIATE THAT. THANK YOU, MR. CHAIRMAN. I DO RECOGNIZE THAT WE ARE IN A TIME CRUNCH. AND I DO WANT TO HEAR FROM TREVOR, FOR SURE, BUT I DO WANT TO WEIGH IN, AND I. AND I THINK IT'S IMPORTANT FOR US TO UNDERSTAND THAT THIS AMOUNT OF MONEY TO BRING IT TO US AT THIS TIME, I RECOGNIZE WE PASSED THAT RESOLUTION A WHILE BACK, BUT FOR US TO HAVE TO MAKE THIS QUICK DECISION ON THIS DAY WHEN YOU ALL HAVE BEEN TALKING ABOUT IT

[00:40:03]

FOR I WOULD ASSUME SOMETIME IT'S UNFAIR BECAUSE WE DO NOT HAVE ALL OF THE ANSWERS. YOU'VE HEARD THE COLLEAGUES BASICALLY SAY THEY DON'T EVEN UNDERSTAND. AND SO IF YOU CANNOT COME WITH COMPARISONS ON WHAT OTHER CITIES ARE DOING, WHAT OTHER STATES ARE DOING, AND HOW THIS CAN BE SIMPLIFIED BETTER THAN HOW IT HAS BEEN COMMUNICATED, IT IS IT'S REALLY NOT FAIR FOR US TO TRY TO DETERMINE TODAY WHAT WE ARE GOING TO SUGGEST TO THE FULL BODY ON THE 28TH. YOU DID MENTION THAT PERHAPS THERE'S AN OPPORTUNITY FOR AN EXTENSION. I CERTAINLY WOULD ENCOURAGE YOU TO LOOK AT THAT EXTENSION, BECAUSE AT THE RATE WE'RE GOING AND AT THE AMOUNT OF QUESTIONS THAT WERE POSED TODAY, IT'S HIGHLY UNLIKELY THAT THIS WILL PASS. SO I'M TRYING TO ENCOURAGE YOU TO GIVE US MORE TIME TO TALK ABOUT IT AND KIND OF UNDERSTAND IT BETTER. AND I WOULD ASK, AND I COULD DO THAT ON THE BACK END, ASK MORE QUESTIONS, MORE POINTED QUESTIONS TO YOU ONE ON ONE. AND I WOULD LIKE TO SEE SOME COMPARISONS IN WHAT OTHER CITIES ARE DOING. THANK YOU. MY APOLOGIES, DOCTOR MCCRANIE, I WAS NOT TRYING TO SILENCE YOUR VOICE HERE, AND I APPRECIATE THAT BECAUSE I AM FULLY IN AGREEMENT WITH THE THINGS THAT YOU SAID. THAT SAID, I'M GOING TO GO AHEAD AND MOVE THIS TO A VOTE. WHAT'S THAT? AND THIS IS AN ITEM THAT CALLS FOR A VOICE VOTE. ALL THOSE IN FAVOR, PLEASE SIGNIFY BY SAYING AYE. AYE. THOSE OPPOSED? NO, NO. THIS ITEM IS DEFEATED. WILL BE SENT TO OLD BUSINESS WITH A RECOMMENDATION FOR DEFEAT. ALL RIGHT. I WOULD JUST TAKE A MOMENT BEFORE SHE DEPARTS. SUBMIT A THANK YOU SO MUCH FOR YOUR INCREDIBLE SERVICE TO OUR CITY AND FOR BEING A GREAT AMBASSADOR FOR NOT JUST THE ENVIRONMENTAL MOVEMENT, BUT FOR RESPONSIBLE ENGAGEMENT OF HOW OUR CITY LOOKS TO ITS FUTURE. YOU HAVE BEEN A WONDERFUL VOICE AND ALWAYS RESPONSIVE. VERY MUCH APPRECIATE YOUR WORK AND WE ARE VERY SORRY TO SEE YOU GO. ALL RIGHT. THE NEXT ITEM ON THE AGENDA IS ITEM NUMBER ONE. THE CLERK WILL READ

[1. ID 25-0421 LOUISVILLE ECONOMIC DEVELOPMENT ALLIANCE – Trevor Pawl]

THE TITLE OF ITEM. LOUISVILLE ECONOMIC DEVELOPMENT ALLIANCE. MR. TREVOR PAUL, DO I HAVE A MOTION AND SECOND. THANK YOU CHAIR. THANK YOU. COUNCIL. IT IS AN HONOR TO INTRODUCE YOURSELF.

FOR THE RECORD, I'M GETTING THERE. ALL RIGHT. THERE YOU GO. SO I'M TREVOR PAUL, I'M THE CHIEF EXECUTIVE OFFICER OF THE LOUISVILLE ECONOMIC DEVELOPMENT ALLIANCE. AND I'M ABOUT FIVE MONTHS INTO THIS JOB AND ALSO IN MY TIME AS A LOUISVILLE RESIDENT. AND I GOT TO TELL YOU, I LOVE THIS PLACE. IT'S THE BEST JOB I'VE EVER HAD. AND IT'S NOT JUST BECAUSE OF LOUISVILLE'S RICH PAST. I THINK IT'S MORE SO THAT YOU'RE NOT STUCK IN THE PAST, THAT THIS IS A PLACE THAT'S LEADING THE FUTURE OF EVS, LOGISTICS, KITCHEN APPLIANCES, SUSTAINABLE FOOD.

AND I THINK THAT'S DUE IN LARGE PART TO THIS COUNCIL'S WORK. AND SO I'M EXCITED TO COLLABORATE WITH YOU GOING GOING FORWARD. SO I HAVE A PRESENTATION. SO IF I MOVE TOO FAST THROUGH PLEASE, PLEASE LET ME KNOW. AND I CAN GO GO BACKWARDS. SO TODAY I WANT TO COVER THREE THINGS. WHY LIDA WAS CREATED, THE RESULTS THAT IT'S GENERATING AND HOPES TO CONTINUE GENERATING, AND THEN AND THEN HAVE A CONVERSATION WITH THE TIME WE HAVE LEFT TODAY. SO FIRST, WHY LIDA? SO I HAVE A FRIEND IN DETROIT NAMED JANETTE, AND JANETTE LOVES CITIES SO MUCH SO THAT AS A SIDE HUSTLE, SHE SHE SHE'S WALKED OVER 150,000 PEOPLE AROUND THE CITY OF DETROIT TELLING ITS STORY. AND AT THE END OF MOST OF HER TOURS, SHE HAS THIS QUOTE, A GREAT AMERICAN CITY IS ONE THAT IS BIG ENOUGH TO MATTER IN THE WORLD, AND SMALL ENOUGH FOR EVERY PERSON TO MATTER IN IT. I LOVE THIS QUOTE BECAUSE IT IT SPEAKS TO THE BALANCE THAT THAT WE WANT TO STRIKE. AND THAT'S THE NUMBER ONE CHALLENGE OF ANY ECONOMIC DEVELOPER. IT'S THE BALANCE BETWEEN GROWTH AND MAKING SURE THAT EVERY NEIGHBORHOOD BENEFITS FROM IT. IT'S THE BALANCE BETWEEN GROWING AN INDUSTRY AND MAKING SURE THAT WE MAINTAIN SAFE, VIBRANT CITIES. IT'S THE BALANCE BETWEEN MAKING SURE WE'RE RELEVANT IN TODAY'S ECONOMY, BUT ALSO MAKING SURE WE'RE BUILDING A FUTURE ECONOMY THAT THAT ALLOWS FOR OUR KIDS AND GRANDKIDS TO STICK AROUND LOUISVILLE. AND SO THIS, THIS BALANCE THAT WE'RE TRYING TO STRIKE OTHER CITIES ARE TOO. AND TO ADDRESS IT, MANY BEST IN

[00:45:01]

CLASS CITIES WHEN IT COMES TO ECONOMIC DEVELOPMENT HAVE CREATED NEW ECONOMIC DEVELOPMENT ORGANIZATIONS, USUALLY 501 C3501C SIXES LIKE US. AND THESE ARE SET UP SO THAT THE RISKS AND THE RESOURCES ARE SHARED BY THE PUBLIC AND PRIVATE SECTORS. THIS HELPS REDUCE THE FINANCIAL BURDEN ON GOVERNMENT, AND IT ALSO HELPS DEMYSTIFY GOVERNMENT RESOURCES FOR THE PRIVATE SECTOR. AND SO ALTHOUGH LIDA MAY BE NEW TO LOUISVILLE, IT'S NOT A UNIQUE CONCEPT AT ALL. AND IT'S CREATED REAL RESULTS AROUND THE COUNTRY. SO IF YOU LOOK AT ONE COLUMBUS, 75,000 JOBS, 47 BILLION INVESTMENT SINCE 2010, YOU LOOK AT NEW ORLEANS, 16,000 JOBS, 30 BILLION IN NEW INVESTMENT SINCE 2004. AND YOU LOOK AT MEMPHIS, 41,000 JOBS, 8.3 BILLION IN INVESTMENT SINCE 2011. AND SO WHEN YOU STUDY THESE ORGANIZATIONS AND YOU LOOK AT THOSE THAT ARE KIND OF PUNCHING ABOVE THEIR WEIGHT, WHERE YOU WONDER HOW DID THEY GET THAT SEMICONDUCTOR FACILITY? WELL, THESE THESE BEST IN CLASS ORGANIZATIONS REALLY DO FOCUS ON FOUR PRIORITIES LOCAL BUSINESS GROWTH, BUSINESS ATTRACTION STRATEGY AND INNOVATION AND MARKETING. AND SO. LOUISVILLE ECONOMIC DEVELOPMENT ALLIANCE WAS CREATED TO COMPETE AND WIN ON ON THOSE FOUR FRONTS. AND OUR MISSION IS SIMPLY THIS MAKE LOUISVILLE THE BEST COMMUNITY IN AMERICA TO BUILD A THRIVING COMPANY, A REWARDING CAREER AND A FULFILLING LIFE. AND SO WHEN WE THINK ABOUT THAT MISSION, IT'S IMPORTANT TO NOTE THE VALUES THAT REST UNDER THAT, THAT THAT MISSION. SO FIRST, PARTNER ALIGNMENT, CREATING ONE BROAD CONSENSUS AROUND REGIONAL ECONOMIC DEVELOPMENT. SECOND, CUSTOMER TRUST, MAKING SURE THERE'S COMFORT AND CLARITY WITHIN THE BUSINESS COMMUNITY ABOUT WHO TO CALL, WHEN AND FOR WHAT. AND STRONG SYSTEMS, JUST QUICK PROCESSING, GOOD CUSTOMER SERVICE AND THEN CONSISTENT WINS. SO A STEADY DRUMBEAT OF POSITIVE ANNOUNCEMENTS, GOOD NEWS THAT BUILD THE NARRATIVE OF OUR CITY LOCALLY AND ALSO NATIONALLY. SO LET'S GET INTO RESULTS. BUT FIRST, BEFORE WE DO THAT, I WANT TO QUICKLY SHARE WITH YOU THE STRUCTURE OF LIDA AS IT STANDS TODAY. AND YOU'LL NOTE THAT THE FOUR BOTTOM BOXES MATCH THOSE PRIORITIES. YOU'LL NOTE THAT WHAT'S IN GREEN HAS ALREADY BEEN ESTABLISHED. WHAT'S IN YELLOW IS IN PROCESS. AND SO TODAY WE'RE GOING TO WALK THROUGH EACH OF THOSE DIFFERENT UNITS. AND THAT'LL HELP I THINK, STORYTELL THE RESULTS THAT WE'VE ALREADY SEEN WITHIN LIDA. SO LET'S START WITH BUSINESS DEVELOPMENT. AND REALLY WHAT THAT FOCUS IS ON IS ATTRACTING NEW CAPITAL INVESTMENT FROM OUTSIDE MARKETS AND MAKING SURE WE HAVE THE RIGHT SITES TO HANDLE THE OPPORTUNITIES THAT MIGHT COME OUR WAY AND THEN STAY COLLABORATION. MOST OF THE TIME WITH THESE DEALS, THE STATE CARRIES THE WEIGHT AS IT RELATES TO INCENTIVES, AND SO WE WANT TO MAKE SURE THAT OUR LOCAL INCENTIVES ADD UP, THAT THAT WE'RE PROVIDING A GREAT CONCIERGE SERVICE AS THESE CLIENTS COME TO TOWN AND CONSIDER US VERSUS ALABAMA, NORTH CAROLINA, GEORGIA OR WHOEVER WE'RE COMPETING AGAINST. AND SO BEFORE I GET INTO THE RESULTS, I, I WANT TO FIRST TALK ABOUT WHERE WE ARE TODAY, AND THEN WE'LL GO BACK AND I'LL EXPLAIN TO YOU A LITTLE BIT MORE ABOUT THE MECHANICS, HOW LIDA WORKS INTERNALLY TO GET THINGS DONE. SO I'M GOING TO FLIP FORWARD. THIS IS WHERE WE ARE CURRENTLY. THESE ARE OUR THREE CORE METRICS PROJECTS LANDED CAPITAL INVESTMENT AND JOB CREATED FOR PROJECTS LANDED AND CAPITAL INVESTMENT. YOU CAN SEE THAT WE HAVE SIGNIFICANTLY INCREASED YEAR OVER YEAR, TO THE TUNE OF 40% IN THE NUMBER OF PROJECTS FOR CAPITAL INVESTMENT. WE'VE ACTUALLY ALREADY ECLIPSED ALL OF LAST YEAR AS IT RELATES TO THE NEW CAPITAL INVESTMENT THAT WE'VE SEEN IN JEFFERSON COUNTY, AND THAT'S LARGELY DUE TO WHAT'S HAPPENED THIS PAST WEEK. AND JOBS CREATED WERE DOWN. BUT THE JOBS THAT WE ARE CRTINGRE GOOD QUALITY JOBS, SUSTAINABLE JOBS, FOR INSTANCE. GE APPLICE, THEY'RE BUILDING ONOS WE'RE TALKING 800 PEOPLE, $490 MILLION CAPITAL INVESTMENT TO BUILD COMBO WASHER DRYER UNITS AND FRONT LOAD WASHERS. FOR NOW, THE REALLY COOL ANNOUNCEMENT ABOUT FORD LAST WEEK, BEYOND THE FACT THAT IT'S $2 BILLION, IS THAT IT'S NOT JUST ABOUT MAKING A NEW CAR, IT'S ABOUT CHANGING THE ENTIRE PROCESS OF MAKING A NEW CAR, BUILDING A WHOLE NEW SYSTEM, REINVENTING THE ASSEMBLY LINE RIGHT HERE IN LOUISVILLE. LAST TIME THE ASSEMBLY LINE WAS INVENTED, IT WAS IN MY HOMETOWN OF DETROIT, AND THAT TURNED OUT PRETTY WELL. INNOVATION CLUSTERED AROUND THAT, THAT THAT ASSEMBLY LINE. WELL, NOW WE'RE WE'RE GROWING AN ASSEMBLY TREE

[00:50:04]

HERE IN LOUISVILLE. AND HOW THAT WORKS IS THE FRONT OF THE CAR. THE REAR OF THE CAR IN THE MIDDLE OF THE CAR ARE BUILT SEPARATELY AND THEN PUT TOGETHER AT THE END. THAT'S GOING TO CREATE HUNDREDS OF JOBS AND MULTIPLE VEHICLE MODELS FOR THE NEXT FEW YEARS. AND THEN A LESS TALKED ABOUT ONE, A LESSER TALKED ABOUT ONE, I SHOULD SAY. BUT BUT STILL A BIG DEAL. THIS IS A SILICON VALLEY COMPANY, ANTHRO ENERGY, THAT IS GOING TO BE BUILDING A STATE OF THE ART ELECTROLYTE FACILITY HERE IN THE SOUTH END. $40 MILLION INVESTMENT, 120 JOBS. NOW, WHAT'S AN ELECTROLYTE? IT IS. YOU NEED IT IN YOUR EV IF YOU WANT TO GO ANYWHERE. IT'S THE BLOODSTREAM THAT ALLOWS IONS TO CHARGE. AND UP TO THIS POINT, DOMESTICALLY, WE HAVE NOT HAD A FACILITY THAT CAN PRODUCE ELECTROLYTES AT SCALE. NOW WE DO. IT'S ANOTHER FIRST FOR LOUISVILLE. AND SO WHAT I WANT TO FOCUS ON HERE IS THAT LEAD IS NOT JUST TRYING TO CREATE JOBS.

WE ARE TRYING TO CREATE OR HELP CREATE INNOVATIONS AND SYSTEMS THAT CARRY US FORWARD, BUILD NEW INDUSTRIES AND ADVANCE THE ONES WE HAVE A RIGHT TO WIN AND ALREADY HAVE. AND WE'RE GOING TO CONTINUE TO DO THAT WITH WITH YOUR HELP, HOPEFULLY. AND I SHOULD ADD TEXAS ROADHOUSE. THIS IS THE LARGEST CASUAL DINING AS OF A FEW MONTHS AGO, A COMPANY IN THE COUNTRY, AND THEY COULD HAVE CHOSE TO LOCATE ELSEWHERE LIKE OTHER COMPETITORS HAVE. BUT THEY CHOSE TO DOUBLE DOWN RIGHT HERE IN LOUISVILLE, AND THEY'LL BE WRITING THE PLAYBOOK FOR THE INDUSTRY. WE'LL HAVE A SAY IN AN INDUSTRY HERE IN LOUISVILLE THANKS TO THESE GUYS. SO NEXT UNIT RETENTION AND GROWTH. AND THIS FOCUSES ON SMALL BUSINESS. IT FOCUSES ON HELPING RETAIN TALENT. IT FOCUSES ON HELPING RETAIN CUSTOMERS. AND IT FOCUSES ON CAPITAL ACCESS AND GETTING BETTER CAPITAL ACCESS FOR SMALL BUSINESSES IN JEFFERSON COUNTY, WHICH I BELIEVE REPRESENT ABOUT 93% OF THE ECONOMY. SO IT'S VERY IMPORTANT. SO THE WAY THAT WE'RE DOING THAT, AT LEAST THE WAY THAT WE'RE STARTING TO DO THAT, IS THROUGH THE METCO PROGRAM, WHICH I BELIEVE ALL OF YOU ARE FAMILIAR WITH. THIS IS A PROGRAM THAT NOW LIVES UNDER LITA, AND WE HAVE THE METCO MANAGER HERE. IF YOU HAVE ANY SPECIFIC QUESTIONS LATER. BUT WHAT WE'VE SEEN WITH THIS PROGRAM THROUGHOUT ITS EXISTENCE IS CONSISTENT DEMAND. THAT TELLS US SOMETHING. EVEN NOW, WE'RE SEEING 10 TO 15 NEW LOAN INQUIRIES MONTHLY. AND YOU CAN SEE OUR PERFORMANCE OVER THE LAST EIGHT YEARS. THIS THIS PROGRAM SURVIVES ON REPAYMENTS. AND SO WHAT YOU'RE SEEING HERE IS IF THERE'S DEMAND ONE YEAR THERE'S A LULL THE FOLLOWING YEAR. SO WHAT THAT MEANS IS WELL WE NEED TO FOCUS ON YEAR OVER YEAR GROWTH. TAKE A STEP BACK. WE NEED TO FOCUS ON NEW FUNDING SOURCES. AND THAT'S WHAT WE STARTED TO DO AT THE BEGINNING OF THIS YEAR. AND SO HERE HERE'S WHERE WE STAND. YOU CAN SEE THAT FROM FY 24 TO FY 25. YES. WE'RE DOWN IN THE NUMBER OF LOANS MADE. YES WE'RE DOWN IN THE AMOUNT. BUT THAT'S BECAUSE WE'VE BEEN FOCUSING ON IMPROVING CUSTOMER IMPROVING COLLECTIONS AND DELINQUENCY PROCESSES. AND THE RESULTS ARE AT THE BOTTOM OF THE TABLE. YOU'RE SEEING OUR DEFAULT RATE GO FROM 14% LAST YEAR TO 6% THIS YEAR. YOU'RE SEEING THE TOTAL FUNDS AVAILABLE TO LEND GO UP EXPONENTIALLY, AND THE CITY FUNDS AVAILABLE FOR LENDING GO UP EXPONENTIALLY. AND NEW COMPLIANCE REPORTS THAT ALLOW US TO MAINTAIN A HEALTHY PROGRAM THAT THOSE THOSE SYSTEMS HAVE BEEN IN IMPLEMENTED. AND SO WE'RE AT A PLACE WHERE WE HAVE A PRETTY HEALTHY PROGRAM IN WHICH TO LAUNCH NEW TOOLS, AND THAT'S EXACTLY WHAT WE'RE GOING TO DO. SO THE SOUTH END FUND, THIS IS SOMETHING THAT THAT YOU ALL HELPED PASS AND WE'RE TRYING TO BRING TO FRUITION. AT LEAST, YOU KNOW, THE FIRST PART OF IT, WE WANT TO DO $1 MILLION TO REDUCE CORRIDOR VACANCY THROUGH GRANTS AND LOANS, 200,000 THAT WILL GO TO SMALL LEGACY BUSINESSES THROUGH GRANTS AND THEN 800,000 AVAILABLE THROUGH THE LOAN OR THE LOAN APPLICATION PROCESS. AND THERE'S MORE TO COME ON THIS PROGRAM AND THE DIXIE HIGHWAY RESTAURANT INCENTIVE PROGRAM AS WELL. NOW, I WANTED TO GET INTO THE FINAL TWO. AND THESE ARE YELLOWS BECAUSE THEY'RE STILL BEING ESTABLISHED. SO WE'VE WE'VE FORMULATED AN APPROACH. WE'RE BUILDING A STRATEGY WITH PARTNERS. AND WE HOPE TO ROLL OUT SOME REAL, ACTIONABLE THINGS IN A FEW MONTHS. STRATEGY INNOVATION FOCUSES ON NEW MARKET INTELLIGENCE, SPECIFICALLY AROUND STARTUPS AND VCS. UNIVERSITY ENGAGEMENT. WE HAVE A GAP TO FILL. WE ARE A TOP 50 METRO. BUT WHEN IT LOOKS, WHEN YOU LOOK AT AVERAGE INDUSTRY WAGE, WE'RE 90. WE'RE NO SORRY, WE'RE 298TH LABOR FORCE PARTICIPATION RATE. WE'RE 91ST.

SO AS MUCH AS WE WANT TO ATTRACT, RETAIN AND EXPAND COMPANIES HERE AND WE NEED TO DO THAT, THERE'S A FOURTH PILLAR AND THAT'S BUILDING COMPANIES FROM SCRATCH. AND HONESTLY RIGHT NOW THERE'S A LOT OF TALENT, A LOT OF IDEAS THAT ARE THAT ARE FLOWING FASTER ELSEWHERE. WHEN YOU THINK ABOUT FOLKS IN THE PRIME OF THEIR CAREERS, WE'VE SEEN FOLKS 25 TO 54 IN

[00:55:04]

LOUISVILLE, THAT THAT GROUP DECLINED BY 2%. WELL, IN NASHVILLE AND CHARLOTTE, THEY'VE GROWN BY 12, 13%. THESE ARE THESE ARE FOLKS THAT START THE COMPANIES THAT END UP BEING BILLION DOLLAR COMPANIES. CINCINNATI AND SAINT LOUIS, NOT NECESSARILY TECH HOTBEDS BY NATIONAL STANDARDS. THEY'VE RAISED THREE TIMES THE TOTAL VC AS LOUISVILLE SINCE 2017. BUT WE'VE BUILT BILLION DOLLAR COMPANIES HERE BEFORE, AND I BELIEVE WE CAN DO IT AGAIN. WE JUST NEED TO REFOCUS ON THIS AUDIENCE AND TRY SOME NEW THINGS, BRING IN SOME NEW IDEAS, SOME NEW INVESTORS, SOME NEW STARTUPS. AND THAT'S WHAT LITA IS GOING TO BE FOCUSING ON THESE NEXT FEW MONTHS. AND SO MY THESIS IS THIS THERE'S A CONFLUENCE OF SOCIOECONOMIC VARIABLES, TECH TRENDS, COMPLEMENTARY STORYLINES THAT MAKE LOUISVILLE PRIMED FOR DEEPER PARTNERSHIPS WITH THESE NEXT GEN COMPANIES. YOU LOOK AT SOME OF THE THINGS THAT THESE GLOBAL TECH HUBS WANT. THERE'S WELL, THERE'S A HARDWARE GAP. THEY NEED CAPACITY. WE HAVE IT.

THERE'S RISKY SUPPLY CHAINS OUT THERE. WE HAVE A PRETTY LOW RISK SUPPLY CHAIN. THERE'S SECTOR LIMITATIONS IN SOME PLACES AROUND THE WORLD. TECH HOTBEDS. WE HAVE A LOT OF SECTOR DIVERSITY HERE. THERE'S A LOT OF ENGAGED LOUISVILLE EX-PATS OUT IN THE WORLD. AND GUESS WHAT? WE HAVE MENTORING AND CAPITAL NEEDS AND THE LIST GOES ON AND ON. SO WE'RE BUILDING A STRATEGY HERE TO ATTRACT BOTH THE INVESTORS AND THE STARTUPS ACROSS SECTORS. AND SO HOPEFULLY WE'LL HAVE MORE TO REPORT SOON. AND THE FINAL THING IS MARKETING. THIS FOCUSES ON BRAND CAMPAIGNS GETTING THE MESSAGE OUT ABOUT THE THINGS THAT ARE ALREADY HAPPENING THAT WE'RE NOT TALKING ABOUT ENOUGH.

AND THEN WHEN THERE ARE MOMENTS LIKE THERE HAVE BEEN MULTIPLE MOMENTS OVER THESE LAST, THIS LAST WEEK, WE LET THE WORLD KNOW AND THEN ALSO MAKING SURE WE SUPPORT OUR PARTNERS THROUGH SPONSORSHIPS, THROUGH THROUGH MAKING SURE THAT ALL THE DIFFERENT NEIGHBORHOOD GROUPS, THEIR STORIES ARE TOLD TO. SO THIS IS OUR FORMULA. WE THINK IT'S I LOVE FUNNELS, IF YOU HAVEN'T NOTICED. SO FIRST PHASE I WANT TO RESET PERCEPTIONS. I THINK WE THINK OF OURSELVES AS A AS A HOST CITY. WE'RE ACTUALLY AN HQ CITY. WE'RE A PLACE THAT YOU DON'T JUST COME FOR A GOOD TIME. WE'RE A PLACE YOU COME TO BUILD A LIFE, CHANGE THE WORLD, MAKE AN OUTSIZED IMPACT. THIS IS A NEW FRONTIER. A LOT OF TIMES IN THE PAST, PEOPLE THINK OF FRONERS AS DIRECTIONAL, LIKE HEAD WEST. NO, I THINK THE FUTURE OF FRONTIERS FOR FUTURE GENERATIONS ARE THESE MID-SIZE CITIES THAT HAVE HAD OUTSIZED CULTURAL IMPACTS. THE SECOND PHASE IS ENGAGING THESE FOLKS IN MEANINGFUL WAYS WHERE THEY'RE ON THE GROUND, THEY'RE VISITING WITH BUSINESS LEADERS. AND THEN THE THIRD IS AS THEY GROW THEIR COMPANIES, WHETHER THEY'RE BIG COMPANIES OR SMALL COMPANIES, WE'RE HAVING CONVERSATIONS ABOUT WHAT A SITE WOULD LOOK LIKE, WHAT A PARTNERSHIP WITH U OF L WOULD LOOK LIKE, OR UK, WHATEVER IT IS, WE'RE PROVIDING GOOD CONCIERGE SERVICE THAT STARTS WITH A GREAT MARKETING CAMPAIGN. AND SO AS WE THINK ABOUT IT, THERE ARE THREE DIFFERENT WAYS TO DO IT. THERE'S A LOCAL LEAN INITIATIVE THAT'S MORE NICHE IN NATURE. YOU CAN SEE THE COST ASSOCIATED BASED ON WHAT WE'VE SEEN ACROSS THE COUNTRY. THERE'S IDENTITY CAMPAIGNS WITH MULTIPLE PARTNERS WHERE YOU HAVE A LOGO AND A SLOGAN AND YOU SLAP IT EVERYWHERE AND HOPE PEOPLE BEGIN TO TAKE NOTICE. AND THEN THERE'S A MAJOR CAMPAIGN WHICH INVOLVES NATIONAL AD BUYS, LEAD GENERATION CHANNELS, MULTIPLE AUDIENCES, AND YOU CAN SEE WHAT THOSE TYPICALLY RUN. AND TYPICALLY THESE ARE PARTNERSHIPS WITH TOURISM AND LEVERAGING EXISTING BRAND ASSETS. WHERE I'M FROM, MICHIGAN WAS PIVOTED TO A BUSINESS CAMPAIGN WHERE THE WORD PURE IN BUSINESS CONTEXT MEANT LAND OF OPPORTUNITY, A FRESH START, AND IT WORKED PRETTY WELL. AND THERE ARE WAYS, I THINK, THAT WE CAN SPIN BRANDS LIKE BOURBON CITY IF WE CONTINUE TO WORK WITH PARTNERS LIKE TOURISM, AND YOU CAN SEE SOME OF THE OTHER CITIES ON THE LIST THAT HAVE DONE IT REALLY WELL.

SO IN CLOSING, LOOK, THIS IS WHAT WE'RE TRYING TO BECOME, AND I HOPE WE'RE DOING A DECENT JOB OF IT. AND IF WE'RE NOT, WE WANT TO HEAR FROM YOU AND WE WANT TO BE BETTER. WE WANT TO EMBRACE OUR ROLE AS AS THE REGION'S CHIEF STORYTELLER, GET THE WORD OUT ABOUT THE GOOD THINGS HAPPENING. AND THAT DOESN'T INCLUDE JUST JEFFERSON COUNTY. THAT INCLUDES THE WHOLE MSA. IF SOMETHING GOOD IS HAPPENING IN SOUTHERN INDIANA, LET'S TALK ABOUT IT. BECOME AN ATTRACTION, EXPANSION AND RETENTION MACHINE. SO CONTINUE TO HELP COMPANIES AS THEY WANT TO GROW HERE AND ALSO AS COMPANIES CONSIDER US, VERSUS ANY OTHER STATE IN THE SOUTH OR ANY OTHER STATE IN THE WEST OR MIDWEST, THAT WE'RE CONTINUING TO HAVE A GOOD BATTING AVERAGE AS IT COMES AS IT COMES TO CLOSING DEALS. AND THEN FINALLY, WE WANT TO HAVE A REPUTATION FOR OPERATIONAL EXCELLENCE. I WANT YOU TO LOOK FORWARD TO WORKING WITH US. OH, WE GET TO WORK WITH THOSE GUYS. THEY'RE GREAT. THEY GET BACK TO ME RIGHT AWAY, AND THEY'RE ALWAYS PRETTY THOUGHTFUL. AND IT SEEMS LIKE THEY UNDERSTAND WHAT I'M SAYING, AND THEY'RE NOT AFRAID TO ASK QUESTIONS. THAT'S THE GOAL AT THE END OF THE DAY. SO THERE YOU HAVE IT. I REALLY APPRECIATE THE OPPORTUNITY TO TALK A LITTLE BIT MORE ABOUT LEAD. I'VE ACTUALLY BEEN REALLY WAITING FOR THIS OPPORTUNITY, AND I'D LOVE TO TAKE YOUR QUESTIONS IF WE IF WE STILL HAVE SOME TIME, COUNCILMAN, WE'D LIKE TO BUILD IT IN MY DISTRICT. BUT SEAN. YES, ABSOLUTELY. WE WOULD LOVE TO TAKE IT IN DISTRICT 25, THE SOUTH END AND ALL THE NET POSITIVE DEVELOPMENTS. TREVOR, THANK YOU SO MUCH FOR BEING HERE FOR YOUR LEADERSHIP THE LAST FIVE MONTHS, AND WE REALLY APPRECIATE WHAT WE'RE DOING AND THE TRAJECTORY THAT YOU ARE TAKING JEFFERSON COUNTY. SO THANK YOU. MY I HAVE TWO

[01:00:02]

QUESTIONS. MY FIRST ONE IS WHAT WOULD YOU SAY WE ARE LOOKING TO BE AS AN IDENTITY OF LOUISVILLE? WHAT IS THE IDENTITY. BECAUSE I FEEL LIKE WE'VE LOST THAT IN SOME FACET OVER THE LAST DECADE.

YEAH I THINK WE BUILD THINGS. I THINK THE MARKET THINKS WE BUILD THINGS AND WE BUILD THEM REALLY WELL. AND NOT JUST EXTENSIONS OF PRODUCTS THAT ALREADY EXIST. BUT IF YOU WANT TO TRY SOMETHING NEW, A NEW WAY TO COMPETE WITH CHINA, TO BUILD SOMETHING DOMESTICALLY AND BE CENTRAL TO YOUR SUPPLY CHAIN, GIVEN OUR INFRASTRUCTURE ACCESS TO THE TO THE OHIO RIVER, BUT ALSO WORLDPORT, THIS IS THE PLACE THAT YOU WANT TO GO. I THINK WE'RE PAST SECTORS AT THIS POINT. THE REAL WINNERS OF THE FUTURE ECONOMY WILL HAVE LABOR POOLS THAT CAN CROSS SECTORS.

WE'LL HAVE CAPABILITIES AND COMPANIES THAT NOT ONLY WORK IN AUTOMOTIVE OR AEROSPACE, BUT WORK ACROSS. AND YOU KNOW WHAT? THAT'S A GOOD THING BECAUSE IF WE'RE ABLE TO GET SOME ACUMEN, WE'LL HAVE MORE PEOPLE THAT DON'T JUST COME HERE FOR A JOB, THEY'LL COME HERE FOR A CAREER PATH BECAUSE THERE'LL BE A PLACE TO GO IF SOMETHING DOESN'T WORK OUT, OR IF THEY'RE REALLY GOOD AT THEIR JOB AND THEY GET PROMOTED, THERE'S A GOOD CHANCE THEY'LL GET PROMOTED AND STAY HERE VERSUS GO TO ATLANTA OR DALLAS. SO I'M FEELING REALLY GOOD ABOUT WHERE THINGS ARE RIGHT NOW. GREAT. I REALLY APPRECIATE THAT. THANK YOU FOR CLARIFYING THAT. MY SECOND QUESTION IS MORE TOWARDS AS WE CONTINUE TO HAVE INFRASTRUCTURE REPAIRS IN OUR COMMUNITIES, WHETHER IT BE STATE PROJECTS, FEDERAL PROJECTS, OR EVEN LOCAL PROJECTS, HOW DO WE LOOK TO SUPPORT THE INDUSTRIES THAT ARE AFFECTED THE MOST? AND I'LL USE BROWNSBORO ROAD, WHICH IS NOT IN MY DISTRICT, FOR EXAMPLE, AS HAVING A MASSIVE CONSTRUCTION PROJECT WITH A FEDERAL PROJECT FOR THE VOA, FOR THE VA, AND THEN A HUGE STATE PROJECT THAT THEY'RE WORKING ON BROWNSBORO ROAD. AND THEN TO TOP IT OFF, YOU HAVE THE WATER COMPANY DOING THE RIVER ROAD PROJECT, AND YOU'VE GOT, YOU KNOW, THE RESTAURANT INDUSTRY DOWN 40 TO 45%, 30 TO SORRY, 35 TO 45%.

YEAH. IN A MATTER OF MINUTES. AND NOW THEY HAVE TO BE SUSTAINABLE TO THAT FOR TWO YEARS. THEY'RE GOING TO PUT THESE PEOPLE OUT OF BUSINESS. HOW DO WE LOOK AT GIVING THESE FOLKS SOME TYPE OF GRACE. YEAH I MEAN COMPLEX PROBLEMS DEFY SIMPLE SOLUTIONS. SO I DON'T THINK IT'S JUST ONE SILVER BULLET ANSWER. AND I DON'T EVEN KNOW IF, AS LIDO, WE'RE THE BEST GROUP TO ANSWER THIS. I KNOW THAT JEFF O'BRIEN IS HERE AND LOUISVILLE METRO GOVERNMENT. AND I KNOW THAT THEY'RE THINKING ABOUT THIS STUFF EVERY DAY. I THINK, THOUGH, FROM A LEADER PERSPECTIVE, WE NEED TO CONTINUE TO THINK ABOUT THE TOOLS NECESSARY TO HELP BUSINESSES AS THESE SORTS OF THINGS ARISE. AND THAT MIGHT NOT BE IN THE MOMENT AS MUCH AS IT IS PREEMPTIVE OR AFTER THE FACT. IF THERE THERE IS, FOR INSTANCE, SOMETHING THAT FALLS WITHIN OUR METCO LOAN PROGRAM, LIKE HOW CAN WE WORK WITH THESE COMPANIES IN ADVANCE TO UNDERSTAND WHAT THEY NEED PRIOR TO SO WHEN THE MOMENT OF CRISIS COMES, THEY'RE NOT AS CAUGHT OFF GUARD? OR IF SOMETHING HAPPENS IN THE MOMENT OR A ROAD CLOSURE OR A BUSINESS IS DOWN AND THEY GET THROUGH THAT AND THEY'RE LOOKING FOR A GOOD RATE AND A PROGRAM THAT CAN MEET THEM WHERE THEY'RE AT TO MAKE SOME SORT OF FACADE IMPROVEMENT OR DO SOMETHING TO HELP THEIR BUSINESS IF IT'S A LEAKY ROOF OR SOMETHING LIKE, AGAIN, THE METCO PLATFORM CAN BE SOMETHING. I'M LOOKING AT THAT PLATFORM AS SOMETHING THAT CONTINUES TO BUILD TOOLS ON TOP OF ITSELF AND CONTINUES TO SORT OF AND I SHOULD ADD TO THAT, ONE OF THE THINGS WE'RE BUILDING INSIDE IS STRATEGIC ACCOUNTS TEAM, WHICH IS GOING TO BE, YOU KNOW, WE'RE GOING TO START SMALL, BUT THE IDEA WILL BE TO HAVE FOLKS THAT HAVE A CERTAIN NUMBER OF MEETINGS THAT THEY NEED TO HIT EACH WEEK WITH TO ALL OF YOU GOING FORWARD. AND IT COULD JUST BE, HEY, WE NEED SOMETHING WHEN ROADS ARE CLOSED.

AND THEN MAYBE THERE'S A TOOL THAT WE CAN WORK WITH WITH JEFF O'BRIEN AND HIS TEAM TO DEVELOP.

SO I COULD KEEP TALKING ABOUT THIS. IT'S A GOOD IT'S A GOOD QUESTION. I THINK IT'S GREAT. I THINK, AND I APPRECIATE JEFF AND HIS TEAM AND WHAT YOU ALL ARE DOING. SO THANK YOU SO MUCH. I LOOK FORWARD TO MEETING WITH YOU ONE ON ONE AND HAVING SOME MORE DIALOG AND CONVERSATION ABOUT THIS AND, AND SEE WHAT WE CAN DO TO BEST FIT AND BEST HELP THE ORGANIZATION GROW, AND EVEN LOOK AT MORE OPPORTUNITIES FOR METCO AND HOW WE CAN HELP IT CREATE A BIGGER ROI. COUNCILMAN LINENGER AND THEN COUNCILWOMAN DOCTOR MCCRANEY. THANK YOU, MR. CHAIR. GREAT TO SEE YOU AGAIN. TREVOR.

I'VE GOT A COUPLE OF THINGS I WOULD LOVE TO TALK ABOUT AND THE INTEREST OF TIME, I'LL TRY TO TAKE THAT CONVERSATION FOR SOME OF THESE ITEMS OUTSIDE OF THE CHAMBERS. YOU KNOW, PARTICULARLY, YOU KNOW, IT'S GREAT THE WINS. I DON'T LOVE THE 41% DROP YEAR OVER YEAR ON JOB CREATION, BECAUSE THAT IS THE PURPOSE OF ECONOMIC DEVELOPMENT IS FOR THE COMMUNITY. AND I WOULD LOVE TO LEARN MORE ABOUT HOW IN THE PAST FIVE MONTHS, WE'VE AFFECTED THAT DEFAULT

[01:05:01]

RATE. YOU KNOW, IN TERMS OF THE METCO LENDING, BUT SPECIFICALLY, I WOULD LIKE TO TALK ABOUT THE DECLINE IN THAT 25 TO 50 POPULATION, YOU KNOW, BEING THAT SORT OF, YOU KNOW, CENTER OF LIFE, THE SORT OF PORTION OF OUR COMMUNITY THAT BUILDS WORKING FAMILIES THAT CREATE MORE POPULATION GROWTH, CREATE SUSTAINABLE ECONOMIC DEVELOPMENT. BECAUSE I THINK THAT A BIG PART OF THAT IS THAT'S THAT'S THE PRIME AGE FOR FAMILIES, AND THAT'S A QUALITY OF LIFE ISSUE. IF WE ARE NOT RETAINING, WE'RE NOT BUILDING THAT POPULATION, WE'RE NOT RETAINING THAT POPULATION. AND I DON'T WANT OUR ECONOMIC DEVELOPMENT APPARATUS TO IN ANY WAY BE IN, YOU KNOW, CONFLICT WITH THAT QUALITY OF LIFE SORT OF QUESTION. YOU KNOW, THERE WAS A COMMITTEE MEETING THAT YOU COULDN'T ATTEND EARLIER THIS YEAR WHERE JEFF WAS ABLE TO SPEAK A LITTLE BIT ABOUT, YOU KNOW, HOW WE'RE BRINGING IN NEW COMPANIES AND WE'RE WE'RE DOING OUR ATTRACTION. AND, YOU KNOW, YOU MENTIONED IN THE PRESENTATION ABOUT OUR, YOU KNOW, OUR WORK WITH THE STATE. BUT ONE OF THE THINGS THAT WAS BROUGHT UP IN THAT MEETING WAS THE DECLINING INCOME TAX, AND THAT BEING ATTRACTIVE FOR OUR BRINGING IN NEW BUSINESS, PARTICULARLY NEW CEOS, YOU KNOW, THE HEAD OF THE COMPANY, THEY MAKE THE MOST MONEY. THEY THEY MAKE THE DECISIONS ABOUT WHERE THOSE COMPANIES LAND. BUT AT THE END OF THE DAY, IF OUR INCENTIVES AND PROGRAMS, WHETHER AT OUR LEVEL OR AT THE STATE LEVEL THAT WE'RE IN PARTNERSHIP WITH, ARE LEADING TO DECLINING REVENUES FOR GOVERNMENT, WHERE YOU KNOW, HOW WE HAVE GREAT SCHOOLS OR HOW WE HAVE SIDEWALKS THAT PEOPLE CAN WALK ON OR OUR PARKS OR OUR LIBRARIES, I THINK THAT DOES START TO COME INTO CONFLICT WITH THOSE YOUNG FAMILIES, AND THAT THAT IS SOMETHING THAT I DO WANT TO MAKE SURE THAT WE'RE HAVING A, YOU KNOW, REALLY SOBER CONVERSATION ABOUT HOW WE ARE BUILDING A COMMUNITY THAT'S FOR EVERYONE. YEAH, THERE'S A COUPLE OF REALLY GOOD PRESSING PRESENT QUESTIONS. I ACTUALLY WANT TO CALL DEENA UP ON THE DEFAULT QUESTION, BUT I CAN TRY TO ANSWER THE OTHER TWO. SO TIMING WISE, WE'RE PROBABLY NOT GOING TO BE ABLE TO DO THAT OKAY. ALL RIGHT. LET'S LET'S LET'S FLAG THAT FOR FOLLOW UP IN FUTURE COUNCIL OKAY OKAY. THANK YOU MR. CHAIRMAN. GOOD TO SEE YOU TREVOR. IT WAS NOT DISCLOSED BUT I AM ON THAT BOARD ON THE LEADER BOARD. SO MY QUESTIONS ARE JUST DIRECT AS A COUNCIL PERSON TODAY FOR DISTRICT SEVEN, BECAUSE THE CONSTRUCTION THAT IS GOING ON OFF OF BROWNSBORO ROAD, THE VA HOSPITAL AND ALL THE OTHER CONSTRUCTION IS IN MY DISTRICT. AND ON SATURDAY WE HAD A MEETING WELL ATTENDED OF COURSE, WITH THE KYTC BILL BELL WITH THE TRANSPORTATION DEPARTMENT HERE IN LOUISVILLE AND SEVERAL OTHER ENTITIES WHO COULD GIVE AN IDEA OF HOW ALL THIS CONSTRUCTION IS GOING TO BENEFIT IN THE FUTURE. BUT WHAT WE CAN DO AS SOLUTIONS FOR TODAY. SO WHAT WAS EXPRESSED TO MY CONSTITUENTS WAS THERE'S TALK IN THE CITY ABOUT GRANTS FOR THE SMALL BUSINESSES AND SOME OF THESE RESTAURANTS THAT ARE TRULY AFFECTED BY THIS CONSTRUCTION. AND THEY DID THROW OUT A NUMBER, AS MY COLLEAGUE STATED, BUT THEY SAID BETWEEN 30 AND 50% AFFECTED IN THEIR REVENUES. SO HAVE YOU BEEN IN THOSE CONVERSATIONS WITH THE CITY ABOUT GRANT POSSIBILITIES AND WHAT DOES THAT LOOK LIKE? I KNOW YOU PROBABLY DON'T HAVE AN OPPORTUNITY TO EXPRESS WHAT THAT LOOKS LIKE, BUT HAVE YOU BEEN IN THOSE CONVERSATIONS AND DOES IT MAKE SENSE FOR LEADER TO BE INVOLVED IN THAT? YEAH, THAT'S A REALLY GREAT QUESTION. AND I UNDERSTAND THE GRAVITY OF THE TOPIC. I WOULD LOOK AT THINK ABOUT THIS WHOLE PROCESS AS A VALUE CHAIN, WHERE THE CONVERSATION THAT YOU HEAR FROM YOUR CONSTITUENTS, A CONVERSATION BEGINS, MORE FORMAL CONVERSATIONS BEGIN, SOME RESOURCES ARE ULTIMATELY SET ASIDE. AND THEN YOU NEED A MECHANISM. YOU NEED SOMETHING THAT'S GOING TO DELIVER THE MONEY AND DO IT IN A WAY THAT PROVIDES REALLY GREAT CUSTOMER SERVICE, AND PERHAPS STARTS ANOTHER CONVERSATION THAT COULD LEAD TO ANOTHER DEVELOPMENT OPPORTUNITY. THAT'S LITA. I WOULD SAY THAT WE'RE THE END CAP OF THAT VALUE CHAIN WHERE WE'RE I WAS AWARE, YES, I'M AWARE OF THE CONVERSATIONS, BUT REALLY WHERE WE TAKE THE BALL IS WHEN RESOURCES ARE READY AND WE MAKE SURE THAT THE PLATFORM DELIVERS ON ALL OF THE DIFFERENT VARIOUS CONVERSATIONS THAT YOU'VE HAD. I THINK THAT'S MAYBE THE SIMPLEST WAY TO EXPLAIN OUR ROLE IN IT ALL. THANK YOU, COUNCILMAN, BRING US HOME. YEAH, I JUST A QUICK, QUICK, I THINK ONE OF OUR BIGGEST CHALLENGES, ONE OF YOUR BIGGEST CHALLENGES, LEADERS BIGGEST CHALLENGE IS DRAWING IN VENTURE CAPITAL INTO THE CITY TO INVEST IN THE CITY. AND I'M WONDERING, YOU KNOW, DOES YOU

[01:10:04]

YOU YOU POSTED THE NUMBERS FOR SAINT LOUIS AND CINCINNATI. YOU HAD I CAN'T REMEMBER EXACTLY WHAT IT WAS THREE TIMES OVER WHAT WE'VE DONE OVER THE LAST SINCE 2017, I MEAN, IT'S WE'RE IN A VERY POOR STATE. ARE THERE OTHER CITIES IN POOR STATES THAT HAVE ABLE TO BEEN ABLE TO PUNCH ABOVE THEIR WEIGHT IN TERMS OF DRAWING IN VENTURE CAPITAL DOLLARS? AND DOES THAT VENTURE CAPITAL MONEY HAVE TO START HERE, OR CAN WE JUST HELP CREATE NEW, THRIVING BUSINESSES THAT THE VENTURE CAPITAL THEN COMES IN TO HELP SCALE UP? ONCE WE'VE CREATED A REALLY GOOD IDEA, A REALLY GOOD BUSINESS WITH A REALLY GOOD IDEA. YEAH, I YES, I LOOK AT, FOR INSTANCE, BIRMINGHAM, ALABAMA. I MEAN, TENNESSEE ISN'T NECESSARILY A POOR STATE, BUT I MEAN, WHAT'S HAPPENING IN CHATTANOOGA IS INTERESTING. RICHMOND. THAT'S INTERESTING. OFTENTIMES THESE YOUNG COMPANIES DON'T NECESSARILY I MEAN, MONEY IS IMPORTANT, BUT IT'S ALMOST LIKE IF THERE'S REGULATORY RIGHT OF WAY WHERE LET'S SAY YOU ARE A MOBILITY STARTUP, AN AI COMPANY THAT HELPS MAKE MAKE INTERSECTIONS SAFER. IF A CITY IS WILLING TO SAY, HEY, WE HAVE A CHALLENGE, WHICH WE ARE ACTUALLY A WE'RE A TOP TEN CITY IN TERMS OF DANGEROUS, DANGEROUS PLACES TO DRIVE, WHERE WE WERE TO SELECT AN INTERSECTION AND SAY, HEY, A COMPANY FROM THE COAST, THAT IS REALLY GREAT TECHNOLOGY TO MAKE IT SAFER. COME AND WE WILL GIVE YOU AN OPPORTUNITY TO HELP US DO THAT. SO I THINK PROVIDING OPPORTUNITIES TO PILOT TECHNOLOGIES CAN BE EQUALLY AS COMPELLING. AND THEN WHEN YOU TAG THAT TO A LOCAL UNIVERSITY THAT IS OPEN MINDED AND HAS A TALENT PIPELINE TO BEGIN TO SAY, ONCE THAT COMPANY IS ON THE GROUND, BE A FEEDER, ALL OF A SUDDEN IT'S HARDER FOR THAT COMPANY TO LEAVE. AND AS IT RELATES TO THE VENTURE CAPITAL ECOSYSTEM, THAT'S PROBABLY A LONGER CONVERSATION. ONCE YOU GET A CRITICAL DENSITY OF STARTUPS, YOU BEGIN TO SEE VCS OPENING SATELLITE OFFICES OR DOING OFFICE HOURS. THAT SORT OF HAPPENS ORGANICALLY, BUT FIRST YOU NEED TO GET THAT THAT CRITICAL MASS OF YOUNG COMPANIES THAT ARE CHANGING THE WORLD. AND ONCE THAT STORY BEGINS TO BE TOLD IN PLACES LIKE SILICON VALLEY, YOU BEGIN TO SEE THAT INVESTMENT COME. THAT'S MY EXPERIENCE. THANK YOU SO MUCH. WE DEFINITELY COULD CONTINUE TALKING FOR MUCH LONGER, AND WE'LL LOOK FORWARD TO INVITING YOU BACK WHEN YOU'VE GOT NEXT QUARTER'S RESULTS TO ANNOUNCE, YOU KNOW, HOPEFULLY THERE'LL BE AS GOOD AS THIS WEEK'S NO PRESSURE, THOUGH HOPEFULLY EVERY QUARTER IS GOING TO BE $3 BILLION QUARTER. I WILL JUST RECENTER US AS WE DEPART. YOU KNOW, COUNCILMAN LINENGER SAID THAT ECONOMIC DEVELOPMENT IS FOR THE BENEFIT OF THE PEOPLE. AND, YOU KNOW, WE'RE GRATEFUL FOR ALL OF THE WORK THAT YOU GUYS ARE DOING IN THAT AND REALLY WANT TO SAY THAT WE WANT TO CONTINUE TO RECOGNIZE OUR PARTNERSHIP WITH YOU AS YOU CONTINUE TO ATTRACT THESE COMPANIES. IT IS OUR JOB TO BE SURE THAT THEY HAVE PLACES TO LIVE, THAT THEY CAN GET TO THE JOBS THAT YOU CREATE AND THAT THEY HAVE CHILDCARE TO BE ABLE TO BE SURE THAT THEY CAN ACTUALLY CONTINUE TO WORK IN THOSE PLACES. SO THAT'S OUR SIDE OF THIS. PLEASE KEEP DOING YOUR SIDE. AND I WELCOME MY COLLEAGUES UP. THANK YOU GUYS SO MUCH. WE WILL ADJOURN THIS MEETING IF I CAN, HOWEVER, TAKE A POINT OF PERSONAL PRIVILEGE. IT IS RARE THAT AS AN EDUCATOR, YOU GET TO SEE THE ADULT FRUITS OF YOUR WORK. AND I JUST WANT TO NOTE THAT WHEN I WAS AT THE YMCA, ONE OF MY STAR STUDENTS IS HERE AND HAS SPENT HIS SUMMER BETWEEN HIS FIRST AND SECOND YEAR AT HARVARD BUSINESS SCHOOL AFTER DOING ROTATIONS IN FINANCE AT CHURCHILL DOWNS AND THEN GOING OFF INTO THE DARK WORLD OF LOTS AND LOTS OF MONEY, BUT VENTURE CAPITAL AND BRINGING BACK ITS SECRETS TO US. HE HAS SPENT HIS SUMMER HERE, SO IF WE COULD JUST HAVE A MOMENT TO RECOGNIZE HENRY SNYDER, I HAVE A PIN FOR YOU THAT I WOULD LIKE TO GIVE YOU ON BEHALF OF THE CITY.

[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 FOR YOUR SERVICE. WE ARE ADJOURNED.

* This transcript was compiled from uncorrected Closed Captioning.

Special Discussion

1. ID 25-0421 LOUISVILLE ECONOMIC DEVELOPMENT ALLIANCE – Trevor Pawl

Pending Legislation

3. R-098-25 A RESOLUTION SUPPORTING AND ENCOURAGING THE EXECUTION OF A RENEWABLE ENERGY CREDIT CONTRACT TO ADVANCE LOUISVILLE METRO GOVERNMENT’S GOAL OF 100% CLEAN ELECTRICITY BY 2030. Action Required By: February 14, 2026 Sponsors: Andrew Owen (D-9), Betsy Ruhe (D-21)

Aug 19, 2025 Labor and Economic Development Committee

Special Discussion

1. ID 25-0421 LOUISVILLE ECONOMIC DEVELOPMENT ALLIANCE – Trevor Pawl

Pending Legislation

3. R-098-25 A RESOLUTION SUPPORTING AND ENCOURAGING THE EXECUTION OF A RENEWABLE ENERGY CREDIT CONTRACT TO ADVANCE LOUISVILLE METRO GOVERNMENT’S GOAL OF 100% CLEAN ELECTRICITY BY 2030. Action Required By: February 14, 2026 Sponsors: Andrew Owen (D-9), Betsy Ruhe (D-21)

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