HomeMy WebLinkAboutResolution - Credit Bureau SystemsRESOLUTION
A RESOLUTION OF THE BOARD OF COMMISIONERS OF THE CITY OF PADUCAH,
KENTUCKY, SUPPORTING THE LOCATION OF CREDIT BUREAU SYSTEMS, INC., BY
REBATING THE I% PAYROLL TAX ON CERTAIN KEDFA PROGRAM ELIGIBLE
POSITIONS
WHEREAS, a strong economy is important to the City of Paducah and the region, and the Board
of Commissioners of the City of Paducah, Kentucky, strives to support the expansion of existing
businesses; and
WHEREAS, Credit Bureau Systems, Inc. is a healthcare revenue cycle management firm
headquartered in Paducah, Kentucky; and
WHEREAS, Credit Bureau Systems, Inc. in 2016 announced plans expand their existing
operation in Paducah and construct a new 10,000 square foot facility on their property; and
WHEREAS, Credit Bureau Systems, Inc.'s $1,647,400 investment created 40 new full time
employees earning an average wage of $13.00 per hour; and
WHEREAS, in order to assist in the project, Credit Bureau Systems, Inc., is eligible for a 1%
payroll tax rebate for up to five years, to be offered in conjunction with the Kentucky Economic
Development Finance Authority (KEDFA) program that grants forgiveness of 3% State payroll tax.
NOW, THEREFORE, BE IT RESOLVED AND ORDERED BY THE CITY OF PADUCAH,
KENTUCKY, ACTING BY AND THROUGH ITS BOARD OF COMMISSIONERS AS FOLLOWS:
SECTION 1. It is hereby found, determined and declared that the statements of fact set forth in
the Resolution are true and accurate.
SECTION 2. That the City of Paducah may grant a rebate of 1% payroll tax on KEFA program
eligible positions, upon remittance of the full amount of the payroll tax due, for a period of up to five
years to help support the expansion of Credit Bureau Systems, Inc.
SECTION 3. The adoption of the Resolution shall not be deemed to and shall not impose any
liability or responsibility, financial or otherwise, upon the City of Paducah, beyond the 1% payroll tax for
a period of up to five years.
SECTION 4. This resolution shall be in full force and effect from and after this adoption.
ATTEST:
4.'. I'l.,
Tammara S. Sanderson, City Clerk
Mayor Pro Tem
Adopted by the Board of Commissioners, November 28, 2017
Recorded by Tammara S. Sanderson, November 28, 2017
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