Meeting of October 8, 2024

[Music] no call this meeting of Ohio County Fiscal Court to order on this 8th day of October 20124 at 5:00 [Music] p.m. and uh I'm going to ask uh Larry Mor you if you'll lead the prayer and the pledge of the flag Lord we come to you tonight thanking you Lord for your many blessings Lord we just ask you to reach out and touch those people that are hurting in the far Southern States Lord God just give them strength to carry on Lord a lot of people's lost everything they've had just be with them Lord and God go with us to this meeting Lord and if we have differences Lord let us be able to sit down and talk them out Lord and just give us strength courage and guidance Lord in Christ's name we ask amen amen pledge aliance to the flag of the United States of America and to the Republic for which stands one nation under God indivisible liy and justice for all [Music]

um before you have the minutes of the September 24th meeting and the October 2nd 2024 special comment I need a motion to and a second to approve I don't have NE do we have a late list [Music] there you I'm looking see if going to farm you guys if I find m i we'll have to do we can come back if you want to while he's making a presentation we can do that and she can make you a copy okay let's do that uh but let's go ahe and do the well do you you have oh yeah bills claim payments and transfers I make a motion to approve Billa second by is there any discussion on the bills claims payments and transfers being none all F say I post

like sign the bills pay uh Trea financial report there in front of you September 2024 financial statement we need to acknowledge that we got it I make a motion to acknowledge motion for Larry morw second for discussion second by Michael mcken discussion but I will it just knowledge that we got it I like motion Carri uh R will you introduce her gu yes sir this is Ray Hagman going to introduce himself what he got something to say to youall okay sounds good make it long make it long okay yeah I promise keep it longer and you make it sure uh judge magistrates I appreciate the opportunity to be here uh before you my name is Ray Hagerman I'm the

executive director of mberg economic growth Alliance we're the mberg county uh Economic Development organization uh I also represent uh because we manage all the assets of Paradise Park industrial uh Development Authority the regional Industrial Development Authority of which Ohio county is a one six share uh member uh not too dissimilar to Bluegrass Crossing um we received Paradise Park received a uh $745,000 approval for Kentucky product development initiative Grant which is as you probably know is the program that uh counties uh economic development organizations uh uh Regional authorities Like Paradise Park can apply for uh to get infrastructure done or even to put into uh you know a SPEC Building or or things like that so uh it was approved last year and uh but we have to have the money uh spent before the end of this calendar year um what was projected in that Kentucky uh product development initiative Grant was that we were going

to need to spend about a million dollars on road work and a few other things so the grand total was almost million and a half U so half of that is 745 which was the grant it requires a onetoone match um so what I'm asking is uh for the court to consider making its share of the investment which works out to be about 10 16,1 164 why that how we came to that calculation is included in your folder I'm not going to bore you with the details of that but that's specifically what I'm asking for secondly I wouldn't be asking for it if uh if I didn't have a way to pay you back for it uh and give you a return on it um one of the things that we are looking to do is our road development came in significantly under budget and the state is going to allow that to be reallocated to site preparation uh for a building that is going to be most likely be an industrial development Bond uh from mberg County could potentially be uh owned by Paradise Park we're not sure

how we're going to do that yet but there's no obligation no anything that Ohio County would have to step up to other than making this $116,000 investment the company that we have uh we haven't finalized the lease on it yet but we have gotten a preliminary estimate of what incentives are going to get from the state and um they are ready to sign a lease as soon as we can establish exactly how much it's going to be based on uh the bank and the bond Council underwriting this Industrial Development Bond the company is uh based in Indiana uh they'll be moving all of their manufacturing to muber County to Paradise Park uh they they've acquired a couple of other companies in the last 6 months they will be adding them to that that total as well so the net new positions uh there in Paradise Park are going to be 250 jobs at uh $26 an hour um there are already 53 of these individuals working in mu in mberg county in a different facility they will be combined to go on this Lot 12 which I've sort of outlined in in the uh

packet that I gave you so the bottom line is the annual payroll on those 303 people is about $16.5 million well every employee in Paradise Park is subject to a 1% occupational tax uh that's already been approved by mberg County but the bylaws of Paradise Park uh in Industrial Development Authority require that that 1% occupational tax be split according to the shares of the partners so in other words y'all are entitled to one sixth of that what will will be $165,000 a year once the building is complete and once uh the people move into it and uh finish their hiring uh we're signing them up to a 15-year lease um in essence $27,500 a year from that 165 would belong to Ohio County uh so in essence you get your money back in under four years but remember you get to continue to get those checks as long as that company is there and we will have

them locked in to at least another 11 years so it's a pretty significant return on the money during the course of that time and that's only that deal as other deals happen in the park of course y'all will get 1% share of that um Revenue too from occupational tax we don't foresee we're actually going to be needing to come back to each County and ask for them to step up to their investment going forward we think we're going to be able to sell enough land to plow it back in for any of those development projects so I don't expect to ever have to come back and ask you for any more money now famous last words but I don't expect that to happen so I wouldn't be asking you for anything uh to step up to the plate on unless I had a pretty good idea that we were going to get your money back to you and so that's why I'm here don't require or ask that you all uh make a decision tonight but I do need to know something by the end of October so that we can go ahead and spend out the money for the road and we can plow that money into the site