HomeMy WebLinkAbout2007-9-7323ORDINANCE NO. 2007-9-7323
AN ORDINANCE AUTHORIZING THE MAYOR TO EXECUTE
A RESIDENTIAL INFILL DEVELOPMENT AGREEMENT WITH SHEPHERDS
NEST, LLC
WHEREAS, Shepherds Nest, LLC, is the owner of a tract of real property consisting
of 44.47 acres known as Westwood Hills, which is located off of Pines Road in Paducah Kentucky;
and
WHEREAS, it would be beneficial to the Developer and Developer's Development,
and the successor owners of property located in Developer's Development, to obtain municipal services
from the City; and
WHEREAS, Shepherds Nest, LLC, is desirous of entering into a Residential Infill
Development Agreement with the City, which infill agreement would provide to Shepherds Nest, LLC
a reimbursement amount not to exceed $775,000 with regard to Developer's construction costs for
public infrastructure and improvements which are necessary for the provision of municipal services or
the amount of ad valorem real property taxes realized by the City from property located in Westwood
Hills for a period of 5 years following September 11, 2007, the lesser to apply.
NOW, BE IT ORDAINED, by the City of Paducah, Kentucky, as follows:
Section 1. The City Commission does hereby approve the Residential Infill
Development Agreement to be executed by and between the City of Paducah and Shepherds Nest,
LLC, for a tract of real property known as Westwood Hills located off of Pines Road. The Mayor of
the City of Paducah, Kentucky, is hereby authorized to execute the infill agreement for and in behalf of
the City of Paducah, Kentucky.
Section 2. This Ordinance shall be read on two separate days and will become
effective upon summary publication pursuant to KRS 424.
ATTEST: LJU74
Tammara S. Brock, City Clerk
Introduced by the Board of Commissioners, August 28, 2007
Adopted by the Board of Commissioners, September 11, 2007
Recorded by Tammara S. Brock, City Clerk, September 11, 2007
Published by The Paducah Sun, September 17, 2007
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