HomeMy WebLinkAbout2008-2-7392563
ORDINANCE NO. 2008-2-7392
AN ORDINANCE AUTHORIZING AND DIRECTING THE MAYOR TO
EXECUTE AN ENGINEERING SERVICE CONTRACT WITH C. H. JOHNSON
CONSULTING, INC. FOR PROFESSIONAL SERVICES ASSOCIATED WITH THE TAX
INCREMENT FINANCING DISTRICT IMPLEMENTATION
WHEREAS, the State legislation on Tax Increment Financing (TIF) requires a
financial feasibility study for TIF Districts; and,
WHEREAS, as part of the application to the State, a third -party financial analyst
is required; and
WHEREAS, C. H. Johnson Consulting, Inc., has in its employ persons
experienced in this area of expertise.
BE IT ORDAINED BY THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. That the Mayor of the City of Paducah is hereby authorized and
directed to execute an Engagement Letter with C. H. Johnson Consulting, Inc., in the amount of
$56,500.00 for professional services associated with the Tax Increment Financing District
Implementation and completion of Task 1 and Task 2 as outlined in the Engagement Letter dated
December 6, 2007.
SECTION 2. This expenditure shall be charged to Project Account ED0080.
-- SECTION 3. This ordinance shall be read on two separate days and will become
effective upon summary publication pursuant to KRS Chapter 424.
ATTEST:
Tammara S. Brock, City Clerk
Introduced by the Board of Commissioners, January 22, 2008
Adopted by the Board of Commissioners, February 5, 2008
Recorded by Tammara S. Brock, City Clerk, February 5, 2008
Published by The Paducah Sun, February 11, 2008
\ord\downtown dev\contract-TIF Financial Analyst