HomeMy WebLinkAboutMO # 2111MUNICIPAL ORDER NO. 2111
A MUNICIPAL ORDER AUTHORIZING THE MAYOR TO EXECUTE A
PROFESSIONAL SERVICES AGREEMENT WITH COMMONWEALTH ECONOMICS
PARTNERS, LLC IN AN AMOUNT NOT TO EXCEED $78,000 FOR THE TAX
INCREMENT FINANCING (TIF) PROGRAM AND DEVELOPMENT OF A BUILD
GRANT APPLICATION BENEFIT COST ANALYSIS FOR THE PADUCAH
RIVERFRONT DEVELOPMENT PROJECT
BE IT ORDERED BY THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. That the Mayor is hereby authorized to execute a professional
services agreement with Commonwealth Economics Partners, LLC, for the Tax Increment
Financing (TIF) Program and the development of a BUILD grant application Benefit Cost
Analysis for the Paducah Riverfront Development project. This agreement shall expire June
30, 2018 and supersedes and replaces the current agreement with Commonwealth Economics
dated July 2016.
SECTION 2. This agreement shall be in the amount of $6,500.00 per month
plus any direct expenses incurred and shall not exceed $78,000. This expenditure shall be
charged to Project No. DT0044.
SECTION 3. This Order will be in full force and effect from and after the
date of its adoption.
ATTEST:
Tammara S. Sanderson, City Clerk
Mayor
Adopted by the Board of Commissioners, June 12, 2018
Recorded by Tammara Sanderson, City Clerk, June 12, 2018
MO\contract-Commonwealth Economics Partners TIF
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