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From YouTube: Capital Projects and Bond Oversight Committee
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A
So
they
kind
of
warned
me
so
thank
you.
I
actually
almost
run
over
him
like
all
this
meeting
to
order-
and
you
say,
madame
secretary
called
the
roll
who
calls
her.
Oh,
madam
secretary,
madam
secretary,
call
the
roll
see
if
we
got
enough.
A
Present
in
the
room,
all
right
can
I
get
a
motion
or
for
approval
of
the
minutes.
If
somebody
don't
move.
Second,
if
nobody
objects,
we'll
just
leave
it,
as
is
as
it's
approved,
that'd
be
all
right
all
right.
D
We
have
four
information
items
this
month:
information
item
a
pursuant
to
krs,
45,
800,
subsection,
4,
the
finance
and
administration
cabinet
has
notified
the
committee
of
the
intent
to
proceed
with
all
of
the
items
presented
at
the
30
july
meeting
information
item
b
in
correspondence
with
personnel
from
the
university
of
kentucky.
The
university
has
requested
committee
approval
on
the
lease
renewal
presented
at
the
30
july
meeting.
D
Mrs
elizabeth
elizabeth
baker
will
be
presenting
this
item
for
approval
today
in
information
item
c
pursuant
to
krs
45
760,
subsection,
5.,
northern
kentucky
university
reported
a
medical
equipment
purchase
and
the
last
information
item.
Pursuant
to
45
krs
760
subsection
1,
the
monroe
county
school
district
reported
a
debt
issuance
for
hvac
improvements
at
the
monroe
county
high
school
I'll
turn
it
back
to
you,
mr
chair.
A
All
right,
thank
you.
Corey
a
couple
things
got
a
couple
of
new
people
here
today,
not
you
jason,
you
you
look
old,
you
ain't
new
ashton
and
corey.
They
act
like
their
old
hands.
Is
this
stuff
they're
so
welcome
and
keep
us
all
in
line
right?
Thank
you.
We
got
some
leash
reports
and
he
alluded
to
it
earlier.
Elizabeth
baker
from
uk.
E
E
The
annual
cost
is
one
million
six
hundred
ninety
two
thousand
two
hundred
ninety
nine
dollars
and
twenty
eight
cents
a
year.
It
will
house
our
biggest
clinics.
It
will
be
physical
therapy
and
the
administrative
offices
for
family
medicine,
our
barn,
stable
brown
clinic
as
well
as
some
other
smaller
clinics,
and
we
would
respectfully
ask
the
committee's
approval.
A
Got
a
motion
to
accept
second,
all
right,
no
further
questions
we'll
last,
madame
secretary
kolro.
C
A
I
and
it
passes
one
question,
mr
speaker:
did
president
harden
okay?
This?
Yes,
all
right!
Thank
you
just
making
sure
well
yeah!
That's
I.
I
appreciate
that.
I
always
we
always
got
to
do
what
bart
says
all
right
now
we're
going
to
have
a
megan
campbell
and
while
she's
on
her
way
up.
These
are
from
the
uofl
these
two,
ladies,
are
she
remotely
a
remote
all
right?
Some.
C
A
All
right:
hey,
there's
two
atoms
here
and
I'd
like
to
roll
them.
If
there's
no
objections,
we'll
roll
those
two
together,
all
right
megan,
you
may
proceed.
B
I'm
trying
to
can
you
hear
me,
I.
B
Okay,
I'm
meg
campbell
with
the
university
of
louisville,
I'm
the
executive
director
for
university
planning,
design
and
construction
and
the
first
lease
I'm
gonna
have
jeff
spoker
with
our
athletics
department,
speak
on
that
one,
and
then
I
will
speak
on
the
med
center.
One.
G
Hi
good
afternoon
my
name
is
jeff
spelker,
I'm
associate
ad
for
finance
at
the
uofl
athletic
association.
Today
we're
presenting
a
lease,
it's
an
annual
lease
with
hrb
louisville
llc,
and
it's
for
44
beds
at
the
clubhouse
apartment
complex,
which
is
on
the
east
side
of
our
campus.
A
All
right
do
we
have
any
questions
for
jeff
all
right,
megan
do
the
next
one.
B
A
A
All
right
got
a
second
all
right,
madam
secretary,
if
there's
no
further
question
madam
secretary,
please
call
the
roll.
C
C
A
Aye,
it
passes
favorably.
Now
we
can
move
on
to
the
budget
and
the
lady
and
the
lazy
boy.
A
All
right
either,
representative
thomas,
don't
know
how
to
spell
I'm,
I'm
gonna.
Take
it
that
way.
Janice
I'm
gonna
tell
you
your
family's
gotta
be
yeah.
Janice
go
ahead,
hold
on
where's
your
lazy
boy.
H
H
During
the
state
emergency
operations
center's
warranty
period,
the
security
windows
were
determined
to
be
defective,
with
cracks
in
several
sections,
which
have
become
more
prevalent,
gaps
have
opened
between
the
outer
layer
and
the
adhesive
layers.
The
cabinet
has
determined
that
the
remediation
replacement
work
needs
to
begin
as
soon
as
possible
to
print
further
damage.
H
Therefore,
we're
moving
forward
with,
as
she
has
approved
this
project
to
move
forward.
Would
you
let
me
continue.
C
Miss
thomas
did,
I
understand
that
this
is
the
defective
products
were
under
warranty,
correct.
H
I'm
I'm
not
sure,
but
I
can
get
that
information
and
I'm
not
sure
if
jennifer
linton,
if
you're
here
with
us
or
if
someone
from
the
department
of
military
affairs
is
online
with
us,
could
answer
that
question.
If
not,
I
will
certainly
get
the
answer
back
to
you.
A
All
right,
thank
you.
Jay,
yes,
go
ahead.
F
C
There's
there's
like
three
companies
that
manufacture
these.
These
windows
that
have
several
layers
and
they're
they're,
fema,
dictated
type
windows,
and
so
there's
there's
more
than
just
one
manufacturer
involved
in
the
lawsuit.
A
Yes,
if
there's
no
objections,
I'd
like
to
roll
the
next
three
projects
together,
all
right,
you
may
proceed
janice.
H
Those
three
projects
are
the
jackson,
readiness
center
interior
restoration
project
and
the
amount
of
one
million;
nine
hundred
thousand
federal
funds
to
renovate
windows,
latrines
flooring,
acoustic
ceiling
indoors,
the
murray
readiness
center
restoration
project
and
the
amount
of
one
million.
Nine
hundred
fifty
thousand
federal
funds
to
renovate
windows,
latrines
flooring,
acoustics
ceiling
indoors
and
the
third
project
is
springfield
readiness,
center
latrine
restoration
project
and
the
amount
of
1
million
700
000
federal
funds
to
renovate
latrine
showers,
accommodate
new
storage
requirements
and
reconfiguration
of
lockers
supply
areas,
new
acoustic
towel
and
new
paint
flooring
and
fixtures.
A
Thank
you
representative.
If
there's
no
further
questions,
I'd
like
to
entertain
a
motion.
A
Got
a
second,
madam
secretary:
please
call.
F
F
C
A
Aye
motion
pass
now
we're
gonna,
look
at
lease
finance,
administrative
cabinet,
scott,
aubry
first
and
well.
Actually,
the
first
two:
we
need
a
roll
call
vote
on
one
of
these,
I'm
first
all
right,
all
right.
It's
got
you
out
there.
I
A
All
right,
we
have
any
questions
for,
mr
aubry,
if
not
entertain,
a
motion
for
the
item.
A
so
move
got
first
and
a
second
madame
secretary.
Please
call
the
roll.
C
C
C
A
Aye
that
passes
favorably
now
we're
going
to
go
on
to
two
items
that
are
information
only
go
ahead.
I
And
the
next
item
I
have
is
a
quarterly
lease
modification
report.
This
report
contains
information
on
lease
modifications
for
four
different
leases.
The
first
one
is
with
the
cabinet
for
health
and
family
services
in
franklin
county
to
add
an
additional
131
square
feet
of
space
for
a
network
room.
This
space
was
previously
shared
and
paid
for
by
the
commonwealth
office
of
technology.
I
I
I
A
All
right,
they
don't
require
any
action
on
them,
so
scott,
thank
you
now
we've
got
office
of
financial
management
is
that
is
that
all
we
got
scott.
I
It's
a
lease
modification
for
the
cabinet
for
hamlin
health
and
family
services.
Here
in
franklin
county.
This
lease
was
being
modified
to
make
minor
structural
renovations
in
the
network
room.
We
did
obtain
two
estimates
and
one
in
the
amount
of
eight
thousand
nine
hundred
ninety
five
dollars
from
moore's
custom
building
and
the
other
for
ten
thousand
eight
hundred
sixty
five
dollars
and
eighty
eight
cents
from
in
a
isaac.
The
low
bid
submitted
by
moore's
custom
building
was
selected
and
the
total
cost
was
paid
pursuant
to
krs
56
813.
A
F
F
A
All
right
now,
we'll
move
on
to
sandy
with
the
report
of
the
office
financial
management
and
while
she's
logging
on
or
coming
on
these
are
we
can
roll
these
five
together.
If
there's
no
objections,
there's
no
objections,
we'll
so
do
all
right.
There
you
go
sandy.
You
can
start
anytime.
J
J
First,
the
city
of
louisa
is
seeking
a
loan
increase
in
the
amount
of
one
hundred
fifty
thousand
dollars
to
fund
additional
work
to
their
inflow
and
infiltration
rehabilitation
project.
The
additional
work
was
necessary
to
move
two
unforeseen
water
lines
that
were
in
the
same
trench
as
the
new
sewer
lines.
The
increase
will
bring.
The
total
loan
amount
to
four
million
one
hundred
seventy
eight
thousand
one
hundred
sixty
six
dollars.
J
J
Next,
the
city
of
paintsville
is
seeking
a
fund,
a
clean
water
srf
loan
in
the
amount
of
1.5
million
dollars
for
the
kentucky
highway,
23
sewer
extension
project.
This
project
will
expand
the
sewer
system
to
free
up
capacity
at
the
paynesville
wastewater
treatment
plant
by
diverting
waste
to
the
honey
branch
wastewater
treatment
plant.
J
Currently
paynesville's
plant
is
operating
over
capacity
and
is
under
a
sewer
sanction.
So
it's
unable
to
issue
any
additional
sewer
taps.
This
will
be
a
30-year
loan
with
a
0.25
percent
interest
rate,
and
this
loan
was
approved
at
the
august
5th
kia
board.
Meeting
the
city
of
somerset
is
seeking
a
fund.
A
clean
water
state
revolving
fund
loan
in
the
amount
of
4.5
million
for
the
pittman
creek
wastewater
treatment,
plant
improvements
and
south
u.s
27
phase
ii,
sewer
extensions
project.
J
The
project
will
construct
a
new
de-watering
facility
and
complete
grit
removal
rehabilitation,
work
at
the
pitman
creek
wastewater
treatment
plant,
an
installation
of
inflow
and
infiltration
detection
equipment
at
the
sinking.
Creek
wastewater
treatment
plant.
This
will
be
a
30-year
loan
with
a
0.25
interest
rate
and
was
approved
at
the
august
5th
kia
board.
J
J
A
We
have
any
questions
for
sandy
got
a
motion
got
a
second
sandy.
I
appreciate
you
putting
two
of
my
counties
on
there
giving
them
some
money.
The
only
problem
I
heard
into
the
scuttle
is
that
one
of
them's
gonna
cause
a
an
increase
in
the
water
bill,
but
from
what
I'm
hearing
about
the
lincoln
county?
It's
it's
much
needed
and
I
get.
I
get
talked
to
a
lot
about
that
when
I
go
into
lincoln
county,
so
we
we
appreciate
it.
A
C
F
C
A
Aye
that
passes
motion
passes.
Now
we
got
some
new
debt
issues
and
brother
ryan
is
in
the
house.
A
You
may
proceed
right,
oh
by
the
way
one
of
these
new
debts
is
we
got
three
of
them.
If
there's
no
objections,
I'd
like
we
need
to
roll
those
together.
If
there's
no
objections,
all
right,
you
may
proceed
with
all
three
of
that
right.
K
Thank
you
very
much
just
go
ahead
and
start
with
the
first
three
transactions
and
say
the
kind
of
same
thing
that
we
always
do
for
the
multi-family
housing.
They
receive
private
activity
allocation
from
the
state
and
there's
no
extension
of
the
balance
sheet
of
the
corporation
or
the
commonwealth.
K
There
are
all
three
for
purpose
of
low
income
housing,
so
if
I
may
just
start-
and
that
goes
for
all
three
projects-
the
mill
creek
project's
180
units
in
louisville
kentucky
the
anticipated
date
of
sale
that
transactions,
the
knights
of
september,
with
about
22.3
million
in
proceeds
and
there's
information
about
the
financing
team
and
developer
in
the
packet.
K
Moving
on
to
the
second
transaction,
it's
a
green
tower
project.
It's
202
units
in
bowling
green
kentucky,
it's
estimated
to
price
in
mid-september,
with
22.5
million
dollars
in
net
proceeds,
again,
financing
team
and
developer.
That's,
ultimately,
the
developer.
The
responsible
for
the
debt
service
is
in
the
packet.
K
The
final
multi-family
transaction
for
consideration
today
is
lowers
hunters
trace
project.
It's
168
units
located
in
louisville
kentucky.
The
anticipated
date
of
sale
is
for
fall.
20
of
this
year,
with
18.5
million
in
net
proceeds
expected
for
the
project
and
there's
information
about
that
team,
including
developer
in
the
packet.
A
C
C
A
Aye
that
passes
favorably
now
we're
gonna
get
into
previous
debt
issues
and
there's
no
action
needed
on
this.
This
is
for
the
information,
so
you'll
proceed
with
that
right.
K
Yes,
sir,
the
first
transaction
is
another
multi-family,
so
this
transaction
has
been
completed.
Cambridge
square,
it's
a
200
unit
in
covington,
kentucky
it
sold
july
19th
and
there
was
a
26
million
of
net
proceeds
and,
in
addition,
the
developer
and
the
financing
team.
The
actual
loan
terms
are
in
the
packet.
Since
it's
been
completed
and
closed
moving
on
to
eastern
state
hospital
transaction,
it's
actually
an
interesting
one.
For
me,
I
was
at
the
city
of
lexington
when
the
final
band
was
sold
to
complete
the
project.
It's
always
nice
to
refund
bonds
that
you
worked
on.
K
This
is
for
the
lexington
fayette
irving
county
government.
It
was
a
98
million
point
well
just
about
99
million
dollars
to
refund
the
outstanding
par
priced
in
january,
8th
of
2020
so
we're
we
did
a
four
delivery
which
we've
presented
before
very
healthy
savings
about
14.7
million
dollars
over
the
life
of
bond,
uniform
savings
and
15
mpv
savings.
Again
historically
low
rates
just
produce
these
exceedingly
high
net
present
value
savings,
so
that
will
that's
completely
serviced
by
the
commonwealth.
K
K
The
total
savings
on
that
transaction
is
just
above
1.6
million
dollars
and,
as
previously
presented,
that
was
an
upfront
payment.
The
university
will
take
those
savings
up
front,
avoided
an
additional
borrowing
and
be
able
to
focus
on
some
capital
and
infrastructure
improvements
that
are
needed
at
the
university.
A
K
Okay,
we
we
group
those
into
both
new
money
transactions
and
refunding
transactions.
A
Ryan,
let
me
do
this.
Yes,
sir,
we've
got
eight
and
if
no
objections,
I'd
like
to
roll
those
together
great
may
proceed,
no
objection.
K
Thank
you
very
much.
Four
new
money
transactions
for
consideration
today,
de
minimis,
well,
a
four
percent
sfcc
participation
with
just
about
96
local
participation,
estimated
par
on
the
new
money,
is
22.26
million.
Moving
to
the
refunding
transactions
we
have.
Four
transactions
today
for
consideration
three
or
which
are
taxable
as
we've
talked
about
before
taxable
is
in
lieu
of
tax
exempt
advance
refundings,
but
it
meets
the
refunding
criteria
that
we
worked
with
sfcc
on.
So
there's
four
transactions
there,
a
little
bit
higher
sfcc
participation
about
29.
K
The
balance
is
local,
with
25.4
million
estimated
par
for
those
transactions
and
for
none
of
the
eight
transactions.
There's
no
tax
increase
necessary
to
finance
the
debt
service
on
the
bonds.
A
Yeah
we're
having
questions
for
ryan
on
those
all
right
on
the
refunds.
C
C
A
All
right
next
meeting
was
going
to
be
on
september,
the
23rd
with
representative
friedland,
so
we'll
see
you
then,
and
hopefully
prayerfully
we've
been
doing
these
things
remotely.
We
thought
we'd
be
over
this,
but
undoubtedly
we're
not
going
to
get
over
it
two
times
anytime
soon.
So
if
there's
no
further
business,
I
look
for
in
a
motion
to
adjourn
we
are
adjourned.
Thank
you.