Meeting of August 20, 2024

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Kell go down one night well good morning and welcome to the bullet County Fiscal Court it's August the 20th at 20124 and it's 9:30 a.m. M BL would you lead us in the uh invocation and pledge amen I pledge aliance to the flag of the

United States of America and to the Republic for which it stands one nation under God indivisible with liberty and justice for all thank you Brian at this time Sam if you call a road to bring the court to order please bar Sanders here Johan logston here Karen Johnson here Brian bleo yes judge Summers yes all present thank you treasur is transfer rep Canan I make ation accept the treasur transfer report second got a motion by second district magistrate logston a second by fourth district magistrate blo to approve the treasury's transfer report as presented Sam Colo logon yes Johnson yes Bal yes judge Summers yes Sanders yes motion carried thank you presentation and approval of all bills make a motion that we approve all bills as

presented I second got a motion by second district magistrate logon a second by first district magistrate Sanders to approve the bills as presented Sam C Johnson yes blol yes judge Summers yes Sanders yes Lon yes motion carried Canan you have a Treasures report I make a motion that we accept the treasur report second got a motion of First District magist Sanders a second by fourth district Mist blo to approve the treasur report as presented Sam col Ro please blal yes judge Summers yes Sanders yes logston yes Johnson yes motion carried thank you um approval of the minutes for the August 6 2024 meeting I make a motion to approve the minutes for the August 6 2024 meeting second got a motion by first district magistrate Sanders the second by Third

District Magistrate Johnson to approve the minutes of the bull County Fiscal Court of August 6 2024 as presented Sam call R please judge Summers yes Sanders yes logon yes Johnson yes yes motion carried do we have a seat okay oh thank you tamy Chris Jones on the U epad ordinance Chris welcome yep uh good good morning um so my name is Chris Jones with eniz Kentucky uh Karen knows me well Tammy at this point knows me well and walto just spoke on Friday never met really here in person so um I manage uh company called energized Kentucky I was here back in uh uh February uh much colder than it is uh today certainly but I was back in uh here in February and presented what uh energy project assessment districts are uh we had been

uh uh contacted by a uh Hotel developer at that time uh that wanted to access Pace financing through the epad programs and just as a a quick um summary so Pace financing is special assessment financing that developers can access at lower cost generally about 5 to s% rates lower than preferred equity for their Capital stack uh of these developments and so that's why it's become pretty popular not only in Kentucky but around the country uh but for these developers to access the pace financing there does in Kentucky have to be an energy project assessment District or EAD for short created either within the county or a city where the property uh is located and so um again we presented the epad uh legislation back in um February I understand that the first reading of the ordinance was in June and the reason I'm coming here now is that we actually have had a second developer uh request Pace financing and it's a fairly uh large um uh development uh and so there's some

you know kind of urgency to it now and I understand that when the ordinance was read back in June there were some questions with regards to the administrative functions uh uh you know from the clerks and PDA and you know also from uh the sheriff and over the past uh week and even up you know till even this morning we're trying to provide some information to uh you know Tammy for clarification I know only have three minutes I'm probably close to it but I would just say that um you know other Counties have gone before you so we just finished with palaski County these interlocal agreements that are being requested in addition to the ordinance uh those are approved by the Attorney General's office and so our most recent was just last month uh for again palas County they had a large development there uh that pace is a part of Woodford County Franklin County you know boy County Morgan County to the you know East kind of all over but U but anyway I know we're not on the agenda here but just wanted to hopefully continue the conversation um the only thing I would say is that the developer so what would happen here is I'm not able to really kind of gge exactly who

the developer is at this point but if we were to proceed and there would be an ordinance you know created then the actual project and the special assessment request would come back in front of Fiscal Court and at that time the full details of the development and the you know special financing agreement would be you know provided at that point and and also I guess one last thing is that again this is simply a pass through special assessment to the county this is not a tax statement it only affects the one property owner who's requesting this special assessment so we have no one else is uh affected uh we really try to you know minimize any administrative burden you know on the county offices at all uh if there would be a worst case and again very very worst case delinquency it would just get put on the regular uh delinquency tax sale uh process and and that's really kind of about it so I know my three minutes are okay well Chris um I have one question and and Tammy have can you rewrite the ordinance and and Quint had questions too no yeah