HomeMy WebLinkAboutBeltline Electric 1% Payroll RebateRESOLUTION
A RESOLUTION OF THE BOARD OF COMMISIONERS OF THE CITY OF PADUCAH,
KENTUCKY, SUPPORTING BELTLINE ELECTRIC COMPANY, INC. BY REBATING THE
1 % PAYROLL TAX ON CERTAIN KEDFA PROGRAM ELIGIBLE POSITIONS
WHEREAS, a strong economy is important to the City of Paducah and the region, and the Board
of Commissioners of the City of Paducah, Kentucky, strives to support the expansion of existing
businesses; and
WHEREAS, Beltline Electric Company, Inc. is a well-known and respected heavy industrial and
commercial electrical and mechanical construction contractor serving the Southeastern United States; and
WHEREAS, Beltline Electric Company, Inc. expanded their operation by relocating to a new
location, invested $1.2 million and created 15 new full-time jobs with a minimum hourly wage of at least
$10.88 per hour; and
WHEREAS, in order to assist in the project, Beltline Electric Company, Inc. is eligible for a 1%
payroll tax rebate for up to five years, to be offered in conjunction with the Kentucky Economic
Development Finance Authority (KEDFA) program that grants forgiveness of 3% State payroll tax.
NOW, THEREFORE, BE IT RESOLVED AND ORDERED BY THE CITY OF PADUCAH,
KENTUCKY, ACTING BY AND THROUGH ITS BOARD OF COMMISSIONERS AS FOLLOWS:
SECTION 1. It is hereby found, determined and declared that the statements of fact set forth in
the Resolution are true and accurate.
SECTION 2. That the City of Paducah may grant a rebate of 1% payroll tax on KEFA program
eligible positions, upon remittance of the full amount of the payroll tax due, for a period of up to five
years to help support the expansion of Beltline Electric Company.
SECTION 3. The adoption of the Resolution shall not be deemed to and shall not impose any
liability or responsibility, fmancial or otherwise, upon the City of Paducah, beyond the 1% payroll tax for
a period of up to five years.
SECTION 4. This resolution shall be in full force and effect from and after this adoption.
Brandi Harless, May r
ATTEST:
indsay Parish, City erk
Adopted by the Board of Commissioners, April 28, 2020
Recorded by Lindsay Parish, April 28, 2020
\resoln\Beltline Electric