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From YouTube: Capital Projects and Bond Oversight Committee (12/15/21)
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B
B
We're
waiting
on
the
budget
meeting,
I
guess
we
can
go
ahead
and
start
and
call
the
meeting
to
order
like
in
the
past.
If
jason,
you
can
mute.
B
Those
on
out
there
in
la
la
land
need
to
mute,
if
you
probably
don't
have
to
you're,
probably
in
your
office,
but
we're
going
to
only
like
in
the
minutes,
approval
minutes
and
stuff
we're
not
going
to
go
roll
call
we're
going
to
go
if
anybody,
nobody
ejects
we'll,
allow
it
to
stand
and
not
have
to
go
through
roll
call
to
vote
on
these
things.
B
B
The
approval
of
the
minutes,
if
we
can
get
a
motion
in
a
second.
B
Get
a
second
second,
any
objections.
A
B
Ready
all
right,
catherine,
we
got
some
information
adams
that
you're
gonna,
give
to
us.
B
All
right,
we
have
any
questions
for
catherine.
B
All
right
then
we'll
move
on,
I
think
miss
baker
is
here.
E
Good
afternoon,
I'm
elizabeth
baker,
I'm
with
the
university
of
kentucky,
and
I'm
here
with
agenda
adam
the
elise
that
I'm
requesting
your
approval
on
okay,
this
lease
is
for
our
equine
analytical
lab.
This
lab
does
the
drug
testing
for
sport,
horses
and
now
for
thoroughbreds
across
the
nation.
E
It
is
we
are
increasing
the
we
have
to
move
them,
because
we
need
more
space
because
they
just
got
the
contract
to
do
thoroughbreds.
We.
This
is
for
a
lease
space
that
is
hundred
fifty
four
square
feet.
The
annual
cost
will
be
two
hundred
fifty
two
thousand
three
hundred
and
eighty
eight
dollars.
It
is
located
out
at
our
cold
stream
campus
in
the
kentucky
technology
building
that
is
out
there.
E
It
is
at
824
bully
road,
of
course,
in
lexington
we
expect
they
are
currently
doing
some
renovations
so
that
it
will
accommodate
dr
stanley's
needs.
We
should
be
taking
occupancy
in
april
of
next
year.
C
B
Second
third,
mr
howe,
madam
secretary,
please
call
the
row.
C
D
C
C
B
Aye,
that
is,
we
got
miss
webb
here,
our
senator
webb.
Thank
you
robin
that
that
makes
us
five
and
it's
approved.
B
Thank
you
see
you
now:
we've
got,
mr
aubry,
which
is
out
in
la
la
land
and
we're
gonna
on
a
finance
administration
cabinet.
B
We're
gonna
roll
these
all
right.
If
I
get
a
motion
we'll
roll
these
together,
these
two
all
right
got
a
motion.
Second,
if
there's
no
objections,
we'll
roll
them
together,
all
right
scott.
C
You
there,
yes,
sir.
Thank
you,
mr
chair,
I'm
scott
aubry,
the
director
of
division
of
real
properties
with
finance
and
administration
cabinet
first
item:
I
have
is
a
lease
renewal
for
the
cabinet
for
health
and
family
services
in
fayette
county.
This
lease
is
being
renewed
under
the
same
terms
and
conditions
for
sixteen
dollars:
fifty
cents,
a
square
foot,
a
total
of
ten
thousand
nine
hundred
twelve
square
feet
of
clinical
space
for
a
total
annual
cost
of
one
hundred
eighty
thousand
forty
eight
dollars,
and
it
will
go
through
june.
C
C
Upon
review
these
estimates,
it
was
deemed
that
the
estimate
from
top
flight
was
non-responsive,
since
they
did
not
include
calls
for
sprinklers
and
hvac
systems.
Upon
examination
of
the
estimates
and
the
work
to
be
done,
a
decision
was
made
to
move
a
wall
in
the
pile
area
that
would
result
in
less
work,
specifically
reducing
the
scope
of
the
sprinkler
work,
the
need
for
a
door
and
white
noise
machine.
However,
the
cost
of
labor
and
materials
has
increased
significantly.
C
B
Well,
we
have
any
questions
for
scott
scott
we're
seeing
a
lot
of
this
revised
estimates
ain't
we.
C
Yes,
sir,
we
are,
a
lot
of
contractors
are
even
having
trouble
finding
workers
to
get
the
work
done.
B
Yeah
and
then
even
the
materials
is
costing
us
30
and
40
more
all
right.
If
no
questions
can
I
entertain
a
motion
to
approve
the
two
got:
a
got,
a
motion.
F
F
B
Aye
robin
you
out
there
we
need
your
vote.
B
We
we
have
four.
B
B
We're
going
to
jump
to
to
economic
development
because
of
sandy
has
has
an
issue
right
now,
with
some
gas
leak
so
katie.
If
you're
ready.
B
All
right,
we're
gonna.
If
I
can
get
a
motion
to
roll
these
together,
then
we'll
let
her
do
these
together
that
I
got
a
motion.
B
Give
you
a
second
and
any
objections,
no
objections,
we'll
let
you
proceed.
Katie.
A
All
right,
thank
you,
so
much
bear
with
me
my
voice
in
the
past.
I
know
we've
presented
some
projects
to
you
before
for
some
infrastructure
grants
for
projects
that
have
been
analyzed
by
an
independent
consultant
that
have
the
potential
for
future
investment
and
economic
development
projects
and
opportunities.
A
So
today
we
are
requesting
two
projects:
one
is
to
use
75
000
of
edf
funds
to
make
a
grant
to
the
city
of
eddyville
for
the
benefit
of
eddyville
river
port
industrial
authority.
For
that
project
they
are
going
to
implement
and
build
a
construction
pad
and
utility
extension
plans
at
the
industrial
park
drive
there
within
the
eddyville
industrial
park.
A
Additionally,
the
second
project
is
we're
requesting
use
of
335
3651
to
make
a
grant
to
the
logan
county
fiscal
court
on
behalf
of
the
local
logan
industrial
development
authority,
and
they
are
going
to
be
doing
some
clearing
and
grabbing
and
rough
grading
at
153
legion
lane
in
russellville
that
is
located
within
the
west
industrial
park.
There.
A
Both
projects
will
have
matching
funds
that
are
required
from
the
the
applicants
and
under
terms
of
the
grant
agreements.
Under
both
projects,
they
will
be
able
to
request
reimbursement
for
funds
after
supporting
documentation
of
invoices
and
proof
of
payment,
and
the
matching
funds
has
been
provided.
B
All
right,
katie,
you
must
done
a
good
job.
Can
we
get
a
motion
to
move
motion
need
a
second
a
second,
madam
secretary.
Please
call
the
roll.
C
D
F
F
B
B
You
know
what
I
don't.
You
might
already
pull
a
little
bit
farther
away.
G
G
Thank
you,
chairman
gerdler
members
of
the
committee,
I'm
sandy
williams,
executive
director
with
the
kentucky
infrastructure
authority.
I
do
appreciate
the
opportunity
to
update
the
committee
on
the
status
of
the
cleaner
water
grant,
cleaner
water
program
grants
and
the
infrastructure,
investment
and
jobs
act
and
how
it
affects
the
the
state
revolving
fund.
So
we'll
start
with
the
cleaner
water
program
grants
just
to
remind
the
committee
members.
G
G
There
is
a
check-in
process
that
we
go
through
with
our
water
resource
information
system
and
then
there's
a
clean,
a
project
cleanup
phase
after
that.
So
there
could
be
a
few
additional
projects,
but
the
deadline
was
november
19th
and
our
goal
is
to
have
all
of
the
150
million
dollar
piece
allocated,
so
that's
to
be
allocated
based
on
county
population.
B
Anybody
have
questions
for
sandy.
We
have
a
question
from
reggie.
F
G
That
is
a
very
good
question.
We
have
been
in
contact
with
the
area
development
staff
in
the
areas
that
are
affected.
What
I've
been
told
is
right
now
the
utilities
are
still
assessing
where
they
are
so.
G
Some
of
the
concerns
with
uprooted
trees
is
that
some
of
the
water
lines
or
sewer
lines
could
have
been
pulled
up
out
of
the
ground.
I
believe
there
I've
heard
that
there
are
three
water
tanks
that
are
down,
and
I
have
heard
that
there
is
one
sewer
treatment
plant
that
has
been
completely
destroyed,
so
just
to
name
a
few
examples.
So
we
expect
that
some
of
the
priorities
of
those
affected
utilities
may
be
revised
and
we
have
already
reached
out
and
to
let
them
know
kia
is
here
for
them.
G
If
they
need
to
make
a
change,
we
will
work
with
them
will
do
whatever
they
need,
but
what
I,
what
I
did
mention
to
them
is
that
we
want
to
be
part
of
the
solution
and
right
now,
thinking
about
these
projects
is
item
number
900
on
their
list
of
things
to
worry
about.
We
don't
want
to
add
more
to
their
list
so
when,
when
they're
ready
to
reach
out
to
us,
I'm
just
letting
them
know
that
we're
here
for
them.
G
Thank
you,
so
the
infrastructure,
investment
and
jobs
act
also
called
idja
iija.
It's
also
referred
to
as
the
bipartisan
infrastructure
law
or
bill.
So
if
you
hear
people
talking
about
bill,
they're
not
talking
about
a
person
they're
talking
about
this,
this
bill
that
just
passed.
So
what
what
does
bill
do?
It
does
provide
a
massive
new
influx
of
supplemental
state
revolving
funds
for
the
next
five
years.
G
It
has
also
provided
amendments
to
the
clean
water
act,
title
vi
and
the
safe
drinking
water
act,
section
1452,
so
those
two,
the
clean
water
act
and
safe
drinking
water
act
are
the
federal
laws
that
authorize
our
clean
water
state
revolving
fund
and
our
drinking
water
state
revolving
fund.
So
the
amendments
to
what
we
are
calling
the
base
program.
G
G
G
G
It
stands
for
chemical
that
I
can't
pronounce
and
it's
in
the
drinking
water,
and
it's
not
good
that
it's
in
there.
So
some
of
this
funding
is
to
be
used
to
to
try
to
figure
out
how
to
get
that
that
group
of
chemicals
referred
to
as
pfos
out
of
the
drinking
water,
so
I
believe
other
than
the
number,
so
we
anticipate
somewhere
between
112
and
119
million
dollars
this
year
to
be
added
as
supplemental
funding.
G
So
again,
in
addition
to
the
base
program,
the
funding
that
we,
the
cap,
grant
funding,
we
would
normally
receive
through
eba.
We
expect
another
112
million
in
this
year
and
then
the
amounts
go
up
over
the
next
five
years
and
I
would
be
happy
to
answer
any
questions.
B
Do
we
have
any
questions
representative
makes.
F
G
Yeah,
representative
meeks,
we
would
be
happy
to
work
with
with
with
anyone
on
the
committee
or
or
any
interested
party
to
figure
out
which
projects
have
been
submitted
for
funding
for
any
of
the
programs.
I
will
let
you
know
the
new
supplemental
programs
we've
been
in
direct
contact
with
epa
headquarters.
G
We
don't
know
what
those
rules
are
yet
epa
headquarters
doesn't
know
what
the
rules
for
this
new
supplemental
funding.
We
don't
know
what
the
rules
are
yet,
so
I'm
actually
on
one
of
the
committees
to
discuss
what
the
the
new
set
of
rules
should
be,
and
we
we
hope
to
have
those
rules,
maybe
february
so
the.
Although
the
the
funding
is
available.
We
don't
know
right
now
how
to
tell
people
to
access
it.
B
B
And
have
a
good
christmas.
Thank
you.
Merry
christmas,
merry
christmas,
now
we're
going
to
hear
from
ryan
barrel.
First,
two
acts.
First,
two
items:
don't
are
just
for
information,
only
so
ryan.
If
you're
out
there.
H
Yes,
sir,
I'm
here
all
right,
yeah,
the
first
transaction
to
report
on
is
for
kiptia
the
kentucky
public
transportation
authority,
most
commonly
known
as
louisville
bridge
very
excited
to
report
this
transaction.
I
think.
Last
month
we
talked
about
the
turnpike
authority,
setting
all-time
commonwealth
savings
record
in
terms
of
bonds
refunded
that
record
lasts
a
month
until
we
report
this
transaction.
H
The
transaction
was
really
a
combination
of
two
things,
taxable
refunding,
which
is
very
common
given
to
the
tax
rules
on
taxes
funding,
but
we
also
completed
a
tender
offer
to
my
knowledge,
that's
the
first
tender
for
a
core
commonwealth
credit
that
we've
we've
completed.
H
H
I
think
the
the
key
numbers
in
terms
of
total
savings
was
58.5
million
dollars
on
the
net
present
value
basis
and
as
well
as
record
setting
a
percent
funding
was
32.1
percent,
so
both
of
those
numbers
are
very
eye-popping
and
it's
a
closed.
Indenture,
so
the
project
will
benefit
by
essentially
58.5
million
dollars
over
the
life
of
the
bonds.
H
This
was
a
transaction
that
really
took
multiple
years.
It
took
a
couple
years
because
you
know
this
was
during
covid.
We
had
to
wait
for
an
updated
traffic
and
revenue
study,
but
given
historically
low
rates.
This
transaction,
in
my
opinion-
and
I
think
others
was
very
successful
on
to
the
second
transaction-
we're
reporting
on
today.
H
It's
for
the
kentucky
housing
corporation,
basically,
two
series
of
bonds,
a
series,
a
that
was
fixed
rate,
23.4
million
series
b,
36.2
million
dollars
and
that
refunded
certain
outstanding
kentucky
housing,
corporation
bonds,
29
or
excuse
me,
2009
series
c4
and
the
12
series,
while
under
normal
circumstances,
but
maybe
not
after
we
report
kiptia
that
accrues
to
the
corporation
about
5.1
million
in
net
present
value
savings,
which
is
eight
point
six,
two
percent
again
very
healthy
for
a
typical
transaction.
H
B
We
have
any
questions
for
ryan.
We
can
expect
see
this
time
with
63
million
all
together.
B
H
B
Right,
thank
you,
you're
doing
a
great
job,
any
other
questions
now
we're
going
to
roll.
If
we
get
a
motion
eight
of
these
dead
issues
together,
so
that
I
can
get
a
motion
all
right,
we
got
a
first
and
a
second
from
reggie.
If
there's
all
in
agreement,
we'll
proceed
on
with
the
other,
so
no
objections
right,
ryan.
You
may
go
on
with
the
rest
and
we'll
roll
them
together
and
you
can
do
them
as
you
see
fit.
H
Yes,
sir,
thank
you
very
much
as
we
normally
do
report
these
kind
of
in
two
categories,
both
new
money
and
refunding.
There
are
six
new
money
transactions
for
consideration.
Today,
sfcc
portion
of
that
is
about
seven
million
dollars,
with
the
balance
being
local
with
it,
which
is
the
majority
at
94.
H
So
about
109.3
million
dollars
is
the
local
portion
for
a
total
estimated
part
of
116.3
million
dollars.
There's
no
tax
increase
necessary
to
fund
any
of
those
new
money
transactions.
On
the
refunding
side.
We
have
two
transactions
for
consideration
considerably
smaller,
but
the
local
portion
is,
is
the
majority
about
8.1
million
local
and
1.1
million
sfcc
supported
for
amounts
of
just
over
9.2
million
dollars
and,
as
usual,
refundings
do
not
require
a
tax
increase
to
fund
the
debt
service
on
the
project.
So
we
respectfully
request
approval
of
those
transactions.
B
The
others
you,
if
ever
no
questions,
we
will
entertain
a
motion
to
approve
solomon.
Second,.
F
B
How's
things
in
western
kentucky
give
us
a
little
report
here.
We've
got
two
that
drove
here
and
we're
just
checking
on
what
you
what
you
know.
B
Well,
we
read
about
it
and
we
hear
about
it.
I've
been
the
insurance
business
43
years,
or
was
I've
never
been
through
one
course
nobody
has
like
that,
but
that's
got
to
be.
I
can
imagine,
what's
going
on
there,
how
to
identify?
What's
what.
C
B
C
B
Our
next
meeting
is
going
to
be
january,
the
18th
and,
of
course,
february
15th.