ACTION REQUESTED:
Title
Request from the City Manager to SET THE DATE of May 27, 2014, for the City Council to Consider Adoption of the ORDINANCES Creating the Six (6) SPECIAL SERVICE AREAS for the LOUISVILLE SLUGGER SPORTS COMPLEX. (5th Council District)
Body
BACKGROUND: As part of the April 22, 2014 City Council agenda, six separate public hearings were held regarding the creation of Special Service Areas (SSA) that will help fund the planned Louisville Slugger Sports Complex. The Amended Annexation Agreement with 24 Corp, LLC (the complex developer) was approved by the City Council on February 11, 2014. That Agreement outlined a process whereby the City would create these SSAs as a repayment mechanism for a City bond. With the public hearings complete, it is necessary to set the date upon which Council will consider the ordinances that create these SSAs. The developer is working with City staff and lenders and believe that May 27, 2014 will be the appropriate date to vote on approval.
FINANCIAL IMPACT: None. This action merely sets the date for future consideration.
NEIGHBORHOOD CONCERNS: Not applicable.
IMPACT IF APPROVED: The date will be set.
IMPACT IF DENIED: The date will not be set and the City may be in violation of the terms of the amended annexation agreement.
ALTERNATIVES: The Council could select another date.
EEO CERTIFICATION NUMBER: Not applicable.
WHICH OF THE GOALS IDENTIFIED IN THE COUNCIL'S 2014 - 2029 STRATEGIC PLAN DOES THIS RECOMMENDATION ADVANCE?
1. Financially Sound City Government, Effective City Organization
WHICH CRITICAL SUCCESS FACTOR(S) FROM THE COMPREHENSIVE PLAN DOES THIS RECOMMENDATION IMPLEMENT?
1. Have an efficient government.
DEPARTMENT: City Manager's Office