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From YouTube: Capital Projects and Bond Oversight Committee (11-18-21)
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A
We
will
have
some
visitors
remotely
and
just
ask
you
to
stay,
muted
and
until
called
upon,
but
once
questions
start,
if
you
have
any
questions,
feel
free
just
to
chime
in.
We
have
several
items
to
go
over
and
I
guess
we'll
go
ahead
and
call
the
meeting.
Call
the
meetings,
order
and
we'll
go
ahead
and
do
roll
call.
A
President
in
the
room,
all
right
well,
thank
you
and
we'll
go
ahead
and
do
a
approval
of
the
minutes.
If
walker
wants
to
make
a
motion
all
right
so
we'll
do
that,
and
now
the
information
items
and
catherine
will
let
you
present
those.
F
Pursuant
to
keras
45
760
sub
5
northern
kentucky
university
reported
a
367
000
federal
funds,
purchase
of
scientific
equipment
for
its
chemistry
program.
The
university
of
kentucky
reported
two
federal
funds:
purchases
of
research
equipment.
One
was
a
four
hundred
and
forty
thousand
dollar
scanner
for
sports
medicine
institute.
Some
cash
was
also
used
for
that
purchase.
They
ever
purchased
utilized
funds
from
a
14
million
dollar
nsf
grant
for
the
cultural
heritage
and
imaging
laboratory
project
at
the
museum
for
anthropology
and
the
lab
purchased
3.5
million
in
equipment
pursuant
to
ks45812
sub
1.
F
three
school
districts,
none
of
which
needed
an
additional
tax
levy
to
pay
debt
service
report
coming
to
debt
issues
for
new
projects.
Pursuant
to
krs
45
a1
80
sub
2.
uk
reported
its
intent
to
use
the
construction
management,
at-risk
project
delivery
method
for
its
parking
structure.
8
expansion
and
the
university
of
louisville
reported
its
intent
to
use
the
design,
build
project
delivery
method
for
its
cardinal
stadium
club
upgrades,
as
well
as
consolidation
of
two
authorizations
for
that
project.
F
F
A
C
Again,
I'm
elizabeth
baker
with
university
of
kentucky
and
we
have
a
lease
addendum
here.
It's
a
modification.
We
are
adding
4
200
square
feet
for
our
specialty
pharmacy
and
it's
to
expand
our
patient
support
services.
The
extra
cost
per
year
will
be
122
388
and
the
specialty
pharmacy
is
located
at
531
wellington
way
in
lexington.
C
C
C
A
E
E
The
first
project
is
the
transportation
cabinet
general
administration
and
support
construct,
hopkins
county
maintenance
facility
and
salt
storage
project
appropriation
increase
in
the
amount
of
270
thousand
dollars.
This
road
fund
project
was
reauthorized
in
the
transportation
budget
bill
house
bill,
193
of
the
2021
regular
session,
part
2,
a
1
0
0
5,
and
the
amount
of
1.8
million
dollars.
E
This
increase
will
bring
the
total
project
amount
to
2
million
70
000.
The
source
of
the
funds
for
the
increase
will
be
paid
out
of
the
highway
construction.
Contingency
account
as
authorized
pursuant
to
krs
45
760
sub
6
c.
This
increase
is
needed
due
to
higher
construction
costs
than
originally
budgeted.
Thank
you.
A
D
C
C
A
Yes,
all
right
and
I
believe
there
is
one
other
item
that
is
information
only
item,
sir.
Thank
you.
It's
an
amended.
E
Emergency
repair,
maintenance
or
replacement
project
pursuant
to
krs
45
750
1g1,
the
secretary
of
finance
administration
cabinet,
is
reporting
an
amended
appropriation
in
the
amount
of
2.2
million
dollars
for
the
department
of
parks,
fort
boonesboro
parkway
flood
reconstruction
project.
E
This
project
was
originally
reported
july
of
2021
in
the
amount
of
1.3
million
dollars,
and
I
last
reported
to
you
in
september
of
an
increase
of
1.8
million,
and
then
this
increase
in
funding
is
now.
The
2.2
million
has
been
requested
by
the
division
of
engineering
as
a
result
of
increased
increasing
equipment,
material
costs,
expanded
scope,
resulting
from
found
conditions
and
damaged
infrastructure
and
expanded
site
recovery
efforts.
This
project
includes
the
site:
building
restoration
and
reconstruction
efforts
resulting
from
the
parkway
flood
that
occurred
in
early
calendar
year.
2021.
A
Thank
you
very
much,
and
does
anyone
have
any
questions
all
right?
Thank
you
miss
thomas.
Thank
you
and
time
now.
Action
item
number
six.
I
believe
scott
aubry
is
with
us
remotely
and
he
has
eight
lease
renewals,
a
new
lease
and
lease
modification
all
which
require
action,
and
if
someone
would
like
to
no,
you
don't
have
to
make
a
motion.
Unless
someone
objects,
we
can
roll
those
into
one
vote.
A
I
don't
see
walker
objecting
so
we'll
go
ahead
and
do
that?
Yes,
there
you
go
so!
Mr
aubry
are
you
on
with
us.
Yes,
sir,
mr
chair.
A
We'll
go
ahead
and
proceed
with
the
action
items.
G
Yes,
sir,
the
first
lease
renewal
I
have
today
is
space
for
the
department
of
workforce
investment
in
fayette
county.
This
lease
is
being
renewed
in
the
same
terms
and
conditions
for
sixteen
dollars:
fifty
cents
per
square
foot
for
eleven
thousand
five
hundred
thirteen
square
feet
of
office
space,
with
a
total
annual
cost
of
one
hundred.
Eighty
nine
thousand
nine
hundred
sixty
four
dollars
fifty
two
cents
and
goes
through
june,
thirtieth
of
twenty
twenty
four
second,
lease
renewal
is
for
the
commonwealth
office
of
technology
in
franklin
county.
G
This
lease
is
being
renewed
under
the
same
terms
and
conditions
for
eight
dollars
and
seven
cents
per
square
foot
for
six
thousand,
one
hundred
nine
square
feet
of
office
space
and
six
dollars
per
square
foot
for
nine
thousand.
Ninety
six
square:
feet
of
storage
space
for
a
total
annual
cost
of
one
hundred
one
thousand
one
hundred
forty
six
dollars
eighty-four
cents
and
goes
through
june
30th
of
2027..
G
G
This
lease
is
being
renewed
under
the
same
terms
and
conditions
for
9.25
cents
per
square
foot
for
thirty
six
thousand
four
hundred
six,
sixteen
square
feet
of
office
space
at
three
dollars
at
three
dollars
per
square:
foot
for
500
square
feet
of
storage;
space
for
a
total
annual
cost
of
three
hundred
thirty
eight
thousand
three
hundred
forty
eight
dollars
and
goes
through
june
30th
23rd,
the
fifth
lease
renewals
for
the
cabinet
for
health
and
family
services
in
lecture
county.
G
G
All
right,
the
sixth
renewal
that
I
have
is
for
the
cabinet
for
health
and
family
services
in
montgomery
county.
This
lease
is
being
renewed
in
the
same
terms
and
conditions
for
13.50
cents
per
square
foot
for
11
544
square
feet
of
office,
space
at
a
total
annual
cost
of
155
844
dollars
and
goes
through
june
30th
of
2024.
G
The
seventh
lease
renewal
I
have
is
for
the
department
of
corrections
in
jefferson
county.
This
lease
is
being
renewed
under
the
same
terms
and
conditions
for
12.75
cents
per
square
foot
for
10
764
square
feet
of
office
space
at
a
total
annual
cost
of
hundred
137.
One
dollars
goes
through
june
30th
of
2023.
G
The
last
renewal
that
I
have
for
today
is
for
the
department
of
public
advocacy
in
fayette
county.
This
lease
is
being
renewed
under
the
same
terms
and
cents
conditions
for
foot
for
eighteen
thousand
nine
square
feet
of
office
space
at
a
total
annual
cost
of
two
hundred
sixty
one
thousand
one
hundred
thirty
dollars
fifty
two
cents
and
goes
through
june
30th
of
2023.
G
G
G
Two
estimates
were
obtained
one
in
the
amount
of
fifty
three
thousand
two
hundred
dollars
from
103
landmark,
grab
llc
and
fifty
four
thousand
eight
hundred
dollars
from
commercial
roofing
services.
The
low
bid
submitted
by
103,
landmark
drive
was
selected
and
the
amount
will
be
amortized
through
the
current
lease
term.
That
expires
june
30th
of
2026.
A
Dogs
all
right,
thank
you.
Do
anyone
have
any
questions,
not
seeing
any
we'll
make
a
motion.
Someone
make
a
motion
to
approve
the
eight
lease
renewals,
the
new
lease
and
lease
modification.
C
C
D
C
H
A
Okay,
we'll
move
on
to
mr
barrow,
then
so
sandy's
not
able
to
be
with
us
at
this
moment.
But
let
me
find
my
place
here:
okay,
all
right!
So
ryan
is
here
with
us
remotely
ryan
barrow,
and
you
have
some
information
items
and
an
action
items,
but
we'll
go
ahead
and
let
you
present
the
information
items
first,
if
you
don't
mind.
H
The
first
is
a
one
traditionally
seen
before
the
commission
kentucky
housing,
conduit
transaction
low,
note,
meadows,
project
series,
2021,
it's
a
family
residential
312
units
in
louisville,
kentucky
sale
was
october,
4th
as
40
million.
Basically
in
bond
proceeds
project
was
north
of
67
million
dollars,
while
it
did
receive
private
activity
from
the
commonwealth,
there's
no
legal
extension
of
credit
of
the
commonwealth
or
the
commission
from
the
multi-family
housing
project.
H
There
is
information
about
the
developer
and
the
financing
team
developer
who's
responsible
for
that
service,
as
well
as
the
financing
team
in
the
packet
moving
on
to
the
one
university
transaction.
We
have
this
month
to
report
on
northern
kentucky
university
soldier,
traditional
generous
seeds,
bonds.
H
H
The
true
interest
cost
was
about
1.166,
which
is
still
amazingly
how
cheap
the
cost
of
capital
is
today
that
resulted
in
the
net
present
value
savings,
12.27
percent,
so
on
a
net
basis,
dollar
about
650
000
will
be
saved
by
the
university.
H
Final
prior
bond
issuance
to
report
today
is
kentucky
turnpike
authority.
So
this
is
road
fund
securitization.
There
was
basically
three
series:
we're
gonna,
pour
it
on
series.
A
and
b
that
have
closed
series.
A
refunded
the
2011
bonds
series
b,
based
on
current
tax
law
at
the
federal
level,
was
a
was
a
taxable
series
and
it
refunded
2011
turnpike
bonds.
H
This
was,
we
believe
for
the
state.
This
is
refunding
a
record
in
terms
of
net
present
value
savings.
However,
it's
a
refunding
record
until
we
report
the
refunding
of
the
louvre
bridge
next
month
at
this
commission,
but
these
savings
are
very
material
and
will
allow
you
know
the
legislator
to
plow
these
savings
back
into
unmet
needs
in
the
commonwealth.
So
series
a
there's
about
5.5
million
in
savings
and
series
b
is
13.5
million
savings?
H
That's
it's
material,
19
million
savings
and
maybe
the
again
the
thing
that
we
feel
more
confident
in
the
record
was
series
a
is
a
savings
on
a
net
present
value
basis
was
series
b
17,
which
is
it
was
very
healthy,
all
right,
so
those
are
the
prior
issuance.
I'm
happy
to
move
on
to
sfcc
chair.
If,
if
there's
any.
A
A
D
This
is
representative
petrie
and-
and
I
had
to
step
out
for
just
a
moment
to
get
a
question
answered
about
these,
and
so
forgive
me
if
I'm
on
the
wrong
spot.
But
if
we're
looking
at
number
seven
are
we
on
number
seven
c,
one.
D
H
This
is
for
bonding,
I'm
not
necessarily
familiar
with
that
term
as
well.
Chair,
okay,.
D
A
All
right
well
we'll
go
ahead.
We
have
a
motion
and
I'll
make
the
second
that
we
roll
those
into
one
vote.
Mr
barrel,
you
you
can
proceed.
Sir.
H
Yes,
thank
you
very
much.
We
kind
of
look
at
it
as
aggregate
meaning
state
debt
support.
We
have
a
little
heavier
calendar
than
normal
with
was
just
outlined.
The
specific
names
there's
11
new
transactions,
two
refunding
transaction,
the
focusing
on
the
new
money
component,
the
sfcc
support
is
in
terms
of
par,
is
11.3
million
and
the
local
is
16.4
million.
H
That's
basically
a
40-60
split
with
the
total
par
of
27.7
million
three
fundings:
there's
two
transactions
on
that
side
of
the
table
with
3.2
million
or
11
sfcc
supported
local
25.5
million,
and
that's
basically,
the
balance
89
28.7
million.
There
is
one
transaction
that
we've
started
pointing
out
to
the
commission.
Whitley
is
a
taxable,
but
it
does
meet
the
refunding
criteria
that
we
and
sfcc
kind
of
agreed
on.
H
There's
no
new
taxes
necessary
to
fund
any
of
the
projects
and
staff
does
request
approval.
Thank
you.
A
All
right,
thank
you,
any
questions
and
and
we'll
try
to
find
an
answer
for
chairman
petry
on
that
one
question.
But
otherwise,
if
no
questions
make
a
motion
and
we'll
vote
on
this.
C
D
C
A
I
Thank
you
so
much
and
apologies
for
having
the
wrong
time
on
my
calendar.
I
C
A
I
Thank
you,
mr
chairman,
and
members
of
the
committee,
I'm
sandy
williams
executive
director
with
the
kentucky
infrastructure
authority,
and
we
do
have
one
project
pursuant
to
krs
224
a
100
for
the
committee's
review.
Today.
This
is
a
fund.
A
clean
water
state,
revolving
fund
loan
increase
to
the
city
of
paducah
they're,
seeking
an
additional
750
thousand
dollars
to
fund
additional
costs
for
the
paducah
pump
station
number
two
rehabilitation
project.
I
The
project
was
initially
approved
in
april
2018
and
the
increase
is
needed
to
fund
additional
costs
associated
with
stabilizing
a
levy.
The
the
total
loan
amount
with
the
increase
will
be
five
million.
Three
hundred
sixty
thousand
six
hundred
sixty
seven
dollars.
I
E
C
D
C
C
A
Yes,
all
right
well,
thank
you
sandy
and
congratulations,
and
also
to
mr
deadman
look
forward
to
look
getting
to
know
you
and
appreciate
your
service
as
well,
and
that
that
is
it
for
our
items.
So
thank
you
for
everybody,
we're
getting
getting
everybody
out
of
here
on
time,
so
you
can.
You
can
make
your
make
your
trip.
Walker.
Thank
you,
sir.
If,
if
looks
like,
our
next
meeting
will
be
december,
15th
at
2
p.m,
and
if
no
other
questions
or
concerns
we'll
go
ahead
and
adjourn.