Labor and Economic Development Committee
TL;DR
The Labor and Economic Development Committee met to consider three resolutions involving healthcare facility financing, business incentives, and a physician services contract. The committee reviewed proposals for up to $6.2 million in bond financing for Wesley Manor Retirement Community's long-term care facility expansion, local tax incentives for Cornbread CBD, and a $183,960 contract for specialized physician services with Louisville Metro Public Health and Wellness.
Key Decisions
- Wesley Manor Retirement Community Financing Not specified in minutes
- Cornbread CBD Local Incentives Not specified in minutes
- Physician Services Contract Not specified in minutes
Agenda
- Call to Order
- Roll Call
- Pending Legislation
- 1. A RESOLUTION OF THE LEGISLATIVE COUNCIL OF LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT (THE “ISSUER”) AUTHORIZING THE EXECUTION OF A MEMORANDUM OF AGREEMENT BETWEEN THE ISSUER AND WESLEY MANOR RETIREMENT COMMUNITY, INC. (THE “CORPORATION”), A NON-PROFIT CORPORATION, AND/OR ANY WHOLLY-OWNED SUBSIDIARY OF THE CORPORATION (COLLECTIVELY KNOWN AS THE “BORROWER”) RELATING TO THE FINANCING THROUGH THE ISSUANCE OF THE ISSUER’S BOND ANTICIPATION NOTES IN A PRINCIPAL AMOUNT NOT TO EXCEED $6,200,000 (THE “NOTES”) FOR CERTAIN COSTS INCURRED PRIOR TO THE ACQUISITION, CONSTRUCTION, INSTALLATION, AND EQUIPPING OF LONG-TERM HEALTHCARE AND HEALTH RELATED FACILITIES LOCATED AT 5012 AND 5400 EAST MANSLICK ROAD, LOUISVILLE, KENTUCKY (THE “PROJECT”); AGREEING TO UNDERTAKE THE ISSUANCE OF ONE OR MORE NOTES TO EFFECT THE PROJECT FINANCING IN AN AGGREGATE AMOUNT NOT TO EXCEED $6,200,000 AND AT THE APPROPRIATE TIME TO PAY FOR COSTS OF THE PROJECT; AND TAKING OTHER PRELIMINARY ACTION.Resolution
- 2. A RESOLUTION APPROVING THE GRANTING OF LOCAL INCENTIVES TO CORNBREAD CBD, PBC AND ANY SUBSEQUENT ASSIGNEES OR APPROVED AFFILIATES THEREOF PURSUANT TO KRS CHAPTER 154, SUBCHAPTER 32.Resolution
- 3. A RESOLUTION PURSUANT TO THE CAPITAL AND OPERATING BUDGET ORDINANCES APPROVING THE APPROPRIATION TO FUND THE FOLLOWING PROFESSIONAL SERVICES CONTRACT FOR LOUISVILLE METRO PUBLIC HEALTH AND WELLNESS TO OBTAIN SPECIALIZED PHYSICIAN SERVICES (MARK S. JORRISCH, M.D.- $183,960.00).Resolution
- 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.