HomeMy WebLinkAboutMO # 1744MUNICIPAL ORDER NO. 1744
A MUNICIPAL ORDER TO RE -USE $125,000 IN REPAID ECONOMIC
DEVELOPMENT BOND FUNDS APPROVED THROUGH THE KENTUCKY CABINET
FOR ECONOMIC DEVELOPMENT TO BE USED AS AN ECONOMIC INCENTIVE TO
WHITEHALL INDUSTRIES TO AID IN THE PURCHASE OF ONE ALUMINUM
EXTRUSION PRESS WHICH WILL ASSIST IN THE LOCATION OF WHITEHALL
INDUSTRIES TO PADUCAH
WHEREAS, the City of Paducah was notified on February 28, 2013, by the
Kentucky Cabinet For Economic Development of the availability for use of $125,000 in repaid
Economic Development Bond Funds; and
WHEREAS, in accordance with instructions from the Kentucky Cabinet For
Economic Development the City formally requested and on July 24, 2013, received
confirmation from the Cabinet For Economic Development of the approval for use of the
$125,000 for a project to assist the location of Whitehall Industries to Paducah; and
WHEREAS, the approved use of the $125,000 is to assist in the purchase of an
aluminum extrusion press for Whitehall Industries; and
WHEREAS, Whitehall Industries has committed to the creation of 150 jobs,
paying a minimum of $13 per hour, and including health insurance benefits with 50% company
contribution; and
WHEREAS, the City wishes to extend the use of these funds to Whitehall in
partnership with additional incentives to be provided by Paducah Economic Development and
McCracken County.
BE IT ORDERED BY THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. That the City of Paducah shall re -use $125,000 in repaid economic
development bond funds approved through the Kentucky Cabinet for economic development to
be used as an economic incentive to Whitehall Industries to aid in the purchase of one aluminum
extrusion press which will assist in the location of Whitehall Industries to Paducah.
SECTION 2. This expenditure shall be charged to the EDO119 project account
(040-0102-511-2307).
SECTION 3. This Order shall be in full force and effect from and after the date
of its adoption.
Af
MAYO
ATTEST:
TAMMARA S. SANDERSON, CITY CLERK
Adopted by the Board of Commissioners September 17, 2013
Recorded by Tammara S. Sanderson, City Clerk, September 17, 2013
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