HomeMy WebLinkAboutMO #2291MUNICIPAL ORDER NO. 2291
A MUNICIPAL ORDER AUTHORIZING PAYMENT TO THE KENTUCKY
ECONOMIC DEVELOPMENT FINANCE AUTHORITY FOR TAX INCREMENT FINANCING
(TIF) CONSULTANT SERVICES., IN AN AMOUNT OF $85,185 AND AUTHORIZING THE
EXECUTION OF ALL DOCUMENTS RELATED TO SAME
NOW THEREFORE, BE IT ORDERED BY THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. That the City of Paducah hereby authorizes the Finance Director to
make payment to the Kentucky Economic Development Finance Authority, in an amount of
$85,185 and authorizes the execution of all documents related to same.
DT0044.
SECTION 2. This expenditure shall be charged to the TIF/Opportunity Zone Project No.
SECTION 3. This payment will be held in escrow by the Cabinet for Economic
Development pending completion of performance milestones by the consultant. Should the consultant
find that the cost will exceed the estimate, the cabinet will notify the Finance Director and request
additional advance payment for the estimated additional cost. Requests for additional funding shall be
approved by the Board of Commissioners at the time of request.
SECTION 4. This order shall be in full force and effect from and after the date of
its adoption.
Brandi Harless, Mayor ',
ATTEST:
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.
dsay Parish, rty lerk
Adopted by the Board of Commissioners, October 8, 2019
Recorded by Lindsay Parish, City Clerk, October 8, 2019
\mo\ TIF Consultant Services