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From YouTube: Capital Projects and Bond Oversight Committee (4-25-23)
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A
B
C
C
F
Just
don't
worry
about
it.
Okay,
I'll
know
to
avoid
going
that
way.
Given
my
fear
of
dentists,
what
we
are
reporting
to
the
committee
is
an
emergency
project.
This
is
the
continuation
of
our
reconstruction.
After
the
tornadoes
on
our
Princeton
campus,
we
will
be
building
a
residence
hall,
a
farm
shop
and
a
excuse
me,
a
field
processing
building
if
y'all
have
any
questions,
I'm
happy
to
answer
them
and
I
also
have
assistance
here.
Should
you
have
questions.
G
I
was
amazed
at
the
the
space.
How
many
acres
is
this.
G
When
I
saw
that
it
was
approximately
10
million,
I
was
curious
about
the
space
and
then
the.
H
Looks
enormous,
yes,
Senator.
First
of
all,
my
name
is
Chris
crumran
I'm,
the
director
of
government
Affairs
for
the
UK
College
of
AG
food
and
environment.
Thank
you
very
much
for
your
question.
Senator.
The
exact
acreage
of
the
Princeton
Farm
I
do
not
have
the
extent
of
the
damage
and
the
high
dollar
value
is
largely
driven
by
the
fact
that
the
main
grain
and
forage
Center
at
Princeton,
which
we
opened
just
about
four
years
ago.
H
So
it
had
been
open
two
years
prior
to
renew,
received
a
direct
hit
and
was
a
total
loss
along
with
about
38
other
buildings
on
the
research
farm.
So
it
was
extensive
in
its
physical
infrastructure
impact,
as
well
as
the
size
and
scope
of
the
farm
yeah.
But
I'm
happy
to
share
with
you
once
I
can
get
the
exact
acreage
of
our
Princeton
Research
Center
farm
and.
G
Just
the
follow-up
question:
yes,
when,
when
I
look
at
that
spend,
what's
the
intended
output,
is
there
Financial
output
that
actually
then
flows
back
into
the
balance
sheet?
Is
income
in
some
way
and
that
might
just
be
my
interest
in
understanding
kind
of
the
big
picture
of
the
project.
Absolutely.
H
Thank
you
just
to
back
up
one
minute
in
terms
of
the
financial
operations
of
the
facility.
There
are
several
sources,
including
state
and
federal
funds
that
operate
our
research
Enterprise
in
the
College
of
AG.
There
are
certain
fees
for
service
that
we
provide
and
and
run
through
Princeton,
as
well
as
other
extension
offices
around
the
state,
primarily
soil
sample
testing
those
soil
samples
are
tested
in
Princeton,
they're,
also
tested
back
on
the
main
College
of
AG
campus
and
there's
a
fee
for
service
depending
on
the
county.
H
It's
not
standardized
across
all
of
our
counties,
but
that
would
be
an
example
of
a
particular
Revenue
stream
that
comes
in
through
that
farm.
Other
revenue
streams
are
Grant
dollars,
provided
through
private
Partners,
who
are
doing
research
on
our
Farm
Kentucky
Corn
Growers
soybean
Association
being
some
examples
of
that,
as
well
as
Federal
grant
dollars.
I
Yes,
appreciate
y'all,
being
here
and
and
starting
to
work
on
this.
This
is
in
my
district.
So
right
down
the
road
from
where
I
live
and
and
you're
right,
it
was
a
devastating
blow
that
that
hit
there
and
and
such
a
beautiful
building
are
the
plans
kind
of
to
especially
the
the
main
building
there
with
the
kind
of
Auditorium
and
everything
is.
H
The
plans
are
in
the
process
they're
being
drawn
we're
coming
up
on
a
on
a
bid
date,
so
the
design
is
still
underway.
But
the
intention,
as
was
announced
very
quickly
by
president
capilouto
following
the
destruction
of
Princeton,
was
a
full
commitment
to
rebuild
in
terms
of
the
main
building.
Yes
Auditorium
community
space,
restoring
that
as
well
as
the
labs
and
then
finding
opportunities,
certainly
within
the
bounds
that
insurance
will.
Let
us
as
well
as
other
support
that
we're
receiving
we're
trying
to
find
deficiencies
in
how
we
rebuild.
I
H
Sir
representative
Thomas
we've
worked
closely
to
keep
the
stakeholders
in
the
region
across
the
state
who
are
part
of
the
original
construction,
as
well
as
who
are
deeply
engaged
with
the
activity
on
the
farm
up
to
date
on
what
we're
doing
and
I'll
share
with
this
committee,
we
do
have
a
corn
and
soybean
field
day
coming
up
at
the
end
of
July
that
we
look
forward
to
inviting
folks
to
so
keep
an
eye
out
for
that
all
right.
Thank
you.
E
Oh
yeah
can
I
just
have
a
follow-up
on
that.
Thank
you
for
all
the
work
that
you've
done
on
this
and
just
for
the
edification
and
center
from
our
I'd
be
happy
to
to
talk
with
you
about
this
more
and
kind
of
give
you
background
on
it,
but
it's
my
understanding
that,
in
response
to
representative
Thomas's
question,
it's
not
that
we're
building
back
we're
building
better.
This
was
like
like
so
many
of
our
facilities
are
it's
an
evolutionary
process
is
continuing
needs
to
develop.
E
We
build
on,
and
sometimes
that
doesn't
isn't
the
best
structure
or
configuration
to
meet
our
needs.
So
a
lot
of
the
the
planning
on
this
is
going
to
look
radically
different
in
areas
from
from
what
was
destroyed.
But
the
end
product
will
be
will
be
a
better,
more
cohesive
application
of
what
you
need,
and
presumably
at
at
a
at
a
better
cost
configuration
as
well
for
maintenance
and
everything,
and
that
was
my
understanding
of
some
of
the
stuff.
E
H
H
K
Senator
Webb,
thank
you,
hello,
Beth
I
had
having
been
here
long
enough
to
know
the
history
and
origin
and
the
mission
of
this
project
and
well
you
know
it's
it's
devastating.
What
happened
to
it,
but
you
know
this
Project's
far
bigger
than
just
that
component.
It
also
has
beef
cattle
component.
There
are
many
other
stakeholders
here
we
have
had
much
State
investment
from
the
beginning
and
you
know
I
I
attended
a
Cattleman's
certification
program
last
week
and
the
Princeton
beat
manager
was
there
teaching.
K
So
this
has
a
far
Outreach
throughout
the
state
and
but
I
too
share
the
concerns
of
knowing
the
original
Mission
and
being
part
of
the
original
supporting
the
original
formation.
This
project
any
changes
or
any
you
know
just
keep
us
informed,
whether
it's
a
chairman
house
committee
or
chairman
Petrie's
committee
or
or
us
and
let
us
know
so
we
can
help
you
build
back
and
and
just
be
aware,
when
we're
answering
to
our
constituents
on
how
that
throughout
the
state,
because
this
is
a
Statewide
thing,
and
so
we
appreciate
that.
K
C
There
any
other
members
seeking
recognition.
Thank
you
for
that
update.
We
appreciate
it
very
much.
Next
we
have
a
lease
report
from
the
post-secondary
institutions
and
Bobby
Carlton
from
the
University
of
Louisville
and
Elizabeth
Baker
from
the
University
are
here
to
present
on
agenda
items
5A
and
5B.
The
lease
report
from
the
post,
secondary
institutions
and
do
I
have
a
motion
and
a
second
to
roll
the
items
into
one
roll
call
vote
motion
by
Senator
Webb
in
a
second
by
Senator
Howe.
F
Good
afternoon,
again
or
good
morning,
I'm
used
to
being
here
in
the
afternoon
I
have
four
leases.
All
of
those
are
for
UK
Healthcare.
The
first
lease
is
in
Georgetown.
It
is
for
our
family
and
Community
medicine
clinic.
It
is
for
9
000
square
feet
for
two
hundred
and
fifty
two
thousand
fifty
three
dollars
and
48
cents
a
year.
F
F
C
C
C
Motion
by
Senator
Howe
second,
by
Senator
Webb
does
any
member
reject
and
I
understand.
Additional
agency
officials
are
available
to
answer
questions
after
testimony
Ms
Thomas,
please
begin
with
the
new
projects
and
appropriation
increase
and
after
we
vote,
you
may
continue
with
the
non-action
items.
L
L
The
first
is
the
amendment
to
the
fun
Source
split
for
the
general
government:
Department
of
military
Affairs,
Bowman
field,
Readiness,
Center,
interior
restoration
project,
the
fun
Source
changed
from
three
million
federal
funds
and
2
million
449
900
general
fund,
two,
three
million
365
000
federal
funds
and
two
men.
Eighty
four
thousand
nine
hundred
dollars
general
fund
from
the
2224
Armory
installation
facility
maintenance
pool
with
the
total
amount
unchanged
in
the
amount
of
5
million
449
900
The
Authority
is
pursuant
to
KRS
45
760,
subsection.
7..
L
Second,
action
item
is
a
new
federal
fund
project
request
for
the
tourism
Arts
and
Heritage
Department
of
Fish
and
Wildlife
Resources
Belvedere
Farm
property
acquisition
project
and
the
amount
of
4.1
million
dollars
funded
with
100
federal
funds
from
a
Pittman
Robertson
Wildlife
restoration,
Grant,
the
Belvedere
project,
Farm
property
adjoins
the
department
of
fish
and
wildlife's,
yellow
Bank
Wildlife
Management
Area
in
Breckenridge
County.
This
addition
to
the
management
area
will
be
a
valuable
resource
for
sportsmen
and
women
of
Kentucky,
since
the
farm
has
seen
Harvest
of
trophy
deer
as
well
as
other
species
to
Wildlife.
L
L
The
third
action
item
project
is
the
Kentucky
Community
and
Technical
College
system
Bluegrass,
new
new
town
administration,
building
Expansion
Project
in
the
amount
of
five
million
dollars
restricted
funds
to
provide
accessibility
through
the
addition
of
an
elevator
new
entry,
restrooms
and
stairs
the
design
and
construction
of
the
project
will
be
implemented
through
the
finance
cabinet.
Kctcs
Board
of
Regents
approved
this
project.
March
24th
of
2023
The
Authority
is
pursuant
to
KRS
164a.575.
L
The
fourth
action
item
is
the
community
Kentucky
Community
and
Technical
College
system,
Jefferson
Community
and
Technical
College
parking
garage
project,
appropriation
increase
in
the
amount
of
7.5
million
for
total
project
authorization
of
12.5
million,
all
funded
with
agency,
restricted
funds.
The
design
and
construction
of
the
project
will
be
implemented
through
the
finance
cabinet.
L
G
Effect
on
the
the
kctcs
Bluegrass
Community
and
Technical
College
I
I,
understood
that
we
had
taken
some
legislative
action.
This
last
session
to
kind
of
review
the
overall
Deliverance
of
Education
does
that
tie
into
almost
a
10
million
dollar
update
of
the
administrative
building
when
we're
that's
part
of
what
were
in
Discovery
phase
or
consideration
for
and
oftentimes
I
feel
like
I'm
asking
a
question
that
might
be
historical,
there's
more
information,
that's
already
been
thought
through
and
discussed
and
I'm
just
not
up
to
speed
on
it.
B
I
would
suggest
representative
Petrie.
L
E
M
N
First
of
all,
Mandy
Casper
I'm,
the
assistant
vice
president
for
facilities
and
support
services
for
kctcs
this
project,
the
administration
building,
was
a
historic
building
that
was
left
on
this
property.
When
Eastern
State
Hospital
was
moved
to
a
different
location
and
we
took
over
this
property,
it
houses
our
administrative
folks
right
now,
the
president
and
all
those
folks
there
is
a
9.7
million
dollar
project
being
funded
with
asset
preservation,
funds
to
restore
that
building
to
be
functional.
N
We've
done
some
little
work
in
there
to
live
in
it,
but
it
really
needs
more
to
preserve
the
building.
So
we're
doing
that.
What
has
come
up
is
that
in
looking
at
the
campus,
which
you
know,
we're
trying
to
move
our
campus
facilities
from
UK's
property
out
at
near
near
the
football
stadium
over
to
Newtown,
which
is
a
kind
of
new
campus
for
us
and
we're
trying
to
relocate
there.
N
There
is
no
large
meeting
space
on
that
campus
at
all
that
that
is
necessary
when
students
are
on
campus
and
we
need
larger
meetings
being
adjacent
to
the
administration
building
makes
sense,
and
during
design
it
was
discovered
that
we
really
needed
to
try
to
do
that.
That
portion
of
the
project,
the
five
million
dollars
we're
asking
for
now-
cannot
be
asset
preservation
funding
because
it's
a
new
new
construction,
but
it
does
need
to
be
connected
to
the
administration.
N
Building
that
we're
renovating
in
order
for
both
buildings
to
actually
function
and
that's
a
I
I
can
go
into
detail
if
somebody
needs
me
to,
but
it's
a
long.
It's
it's
been
a
long
time
to
get
to
this
point,
so
we're
asking
for
restricted
funds
to
do
that.
Portion
of
the
project
in
in
light
of
the
joint
resolution,
I
understand,
that's
going
on
I
would
think
and
I'm
not
I'm
a
layman
in
that
topic.
N
But
if
no
matter
what
the
joint
resolution
ends
up
doing,
I
would
think
that
this
is
going
to
be
necessary
to
this
campus,
for
whoever
or,
however,
this
campus
functions
in
the
future,
because
it
is
something
that
is
not
there
now
and
as
the
campus
has
grown
and
students
have
been
migrated
to
that
campus.
More
and
more,
it's
becoming
more
and
more
apparent
that
we
really
need
this
kind
of
a
space.
N
So
that's
what
we're
trying
to
do.
We
just
aren't
using
asset
preservation
funds.
We
want
to
use
restricted
funds
to
do
it
and-
and
why
am
I
doing
it
now,
because
in
order
to
renovate
the
building
properly
that
the
admin
building
and
get
its
functions
right,
I
need
a
new
elevator
I
need
new
restrooms
I
need
all
that
stuff.
It's
also
necessary
for
this.
If
I
build
it
together,
it
makes
economic
sense
to
everybody.
N
M
People-
and
that
was
the
the
last
part-
was
what
I
was
going
to
draw
out
with
the
resolution.
I,
don't
think
it's
contradictory,
because
if
I
understand
the
project
right
in
the
history
behind
of
it,
regardless
of
what
the
resolution,
the
efforts
turn
out
a
result
of
how
we
deliver
more
effectively
the
services
the
administration
built
on
this
particular
location
is
going
to
be
necessary,
regardless.
K
Just
when
we
made
the
deal
to
transition,
the
swap
or
whatever
you
want
to
call
it,
we
anticipated
there
would
be
transition
transition
issues
arise
to
better,
and-
and
we
hoped
that
in
doing
this,
it
would
expand
enrollment
and
provide
a
better
service
and
and
I
think
we
anticipated
some
of
these
issues
and
because
it
was
not,
it
was
a
good
deal,
but
not
an
ideal
transitional
space.
So
I
I
support
the
project
and
I.
Think
I
appreciate
the
way
that
you're
you're
looking
at
it
so
I.
N
When
I
was
with
Finance
so
yeah
this,
this
project
is
a
long
term.
I
mean
we're
in
our
what
15th
year.
O
N
And
things
the
needs
of
the
students
as
we
do
develop,
this
campus
become
more
and
more
apparent,
and
it
just
we
actually
tried
to
find
and
if
there's
any
way
to
do
these
two
things
separately
and
wait
on
the
on
this
part
of
the
project,
but
it
really,
if
I
don't
do
it
together,
we'll
end
up
spending
a
whole
lot
more
money
and
not
achieving
either
project
very
well.
So,
okay.
C
C
A
C
L
Thank
you
so
much
the
next
two
projects
that
I'm
reporting
are
the
emergency
repair
maintenance
and
replacement
projects
as
follows.
The
justice
and
Public
Safety
cabinet
department
of
corrections,
Green
River
Correctional
Complex,
referred
to
as
GRCC
fire
building
k-power
house
project
and
the
amount
of
one
million
142
000
funded
with
restricted
funds
and
insurance
proceeds.
I
will
say
that
the
five
thousand
dollar
deductible
will
be
the
restricted
funds
and
the
rest
will
fall
to
the
insurance
proceeds.
L
An
electrical
fire
caught
due
to
a
faulty
gear
switch
destroying
all
the
electrical
components
in
the
K
building,
also
known
as
the
PowerHouse
GRC
has
been
using
a
lease
generator
to
power
the
facility.
This
project
is
to
replace,
upgrade
and
relocate
all
the
damage,
destroyed
electrical
electrical
components
and
bring
up
to
current
electrical
code.
These
components
include
all
Transformers
switch
gears,
pumps,
motors
electrical
conduits
and
miscellaneous
wiring
to
the
building
immediate
need
for
emergency
repair.
L
The
second
of
the
emergency
projects
is
the
tourism
Arts
and
Heritage
cabinet
department
of
parks,
General
Butler,
Lodge
freeze
damage,
repairs
located
in
Carrollton
Kentucky
in
the
amount
of
1.5
million
funded
with
insurance
proceeds
due
to
excessively
cold
temperatures
in
December
the
fire
protection
water
line
froze
in
the
Attic
area
of
the
General
Butler
State
Park
Lodge,
resulting
in
water
damage
to
majority
of
rooms.
An
entire
guest
Wing
repairs
will
include
replacing
walls
finishes
on
the
affected
ceilings,
floors,
insulation,
electrical
and
medical
mechanical
systems.
This
is
also
percent
KRS,
45,
750,
subsection,
1G
and
45.780.
L
The
purchase
was
originally
reported
in
April
of
2022
in
the
amount
of
307
600..
The
costs
increased
due
to
additional
sequencers
training
software
licenses.
The
instrument
will
allow
for
identification
of
a
broader
range
of
diseases
for
surveillance
and
epidemiological
investigations,
tracing
route
of
transmission
detection
of
new
mutations
and
help
determine
effectiveness
of
new
therapies
and
vaccines.
This
item
of
equipment
will
be
funded
with
100
federal
funds.
The
Authority
is
pursuant
of
45.760
subsection
5.
L
L
The
first
of
the
four
is
the
Cabinet
for
Health
and
Family
Services
Behavioral,
Health
development
and
intellectual
disabilities
out
repair
of
replace
Water
Tower
project
and
the
amount
of
one
million
one
hundred
twenty
two
thousand
four
hundred
and
is
funded
from
the
2022
maintenance
pool.
This
project
will
repair
and
replace
the
water
tower
at
outwood
facility.
The
existing
water
tower
was
constructed
in
1926.
It
has
had
several
structural
and
safety
issues.
The
tower
provides
fire
prevention
for
the
entire
outwood
campus.
L
The
second
pool
project
is
the
tourism
Arts
and
Heritage
State
Fair
board
and
actually
there's
three.
The
next
three
projects
in
the
final
three
projects
are,
with
the
state
fair
board.
The
first
of
the
fair
boards
is
the
Kentucky
Exposition
Center
Freedom
Hall
acoustic
project
in
the
amount
of
two
million
fund
it
with
Bond,
funded
2022
and
2024
maintenance
pool.
This
project
will
include
installation
of
acoustic
ceiling
panels
and
grid
to
address
sound
issues
and
Freedom
Hall.
L
The
previous
panels
were
removed
due
to
structural
issues,
and
temporary
speakers
have
been
used
to
address
these
issues
for
the
past
two
years.
The
new
acoustic
ceiling
panels
will
reflect
sound
from
an
existing
speakers
to
negate
the
need
for
temporary
speakers
which
are
expensive
and
do
not
fully
mitigate
the
problem.
L
The
next
state,
fair
board
project,
is
Kentucky
Exposition,
Center
gate
Replacements
in
the
amount
of
9
million
funded
from
the
bond
funded,
2022-24
maintenance
pool.
This
project
includes
replacement
of
the
remaining
Tollgate
entrances,
including
installation
and
dynamic
signage
and
led
boards
for
advertising
upcoming
events
and
providing
pricing
and
parking
information.
Two
entry
Lanes
will
be
added
at
gate.
Four,
to
reduce
congestion
on
Crittenden
Drive
during
larger,
shows
Gates
two
three
and
four
will
be
replaced
and
two
entry
Lanes
will
be
added
to
gate
or
to
reduce
congestion,
as
I
mentioned
before.
L
The
current
immigration
was
installed
in
1985
and
parts
are
no
longer
supported
from
the
manufacturer
no
longer
available
for
purchase
when
parts
are
needed.
They
must
be
fabricated
and
adds
to
the
cost
of
Maintenance
and
outside
contractors
utilized
for
moving
the
seating
and
doing
safety
inspections
prior
to
any
event,
inspections
must
be
performed
each
time
the
bleachers
are
used
with
the
new
system
announced.
The
contractor
will
not
be
necessary
in
inspections
would
be
done
as
needed,
and
this
concludes
my
presentation.
Thank.
C
Those
require
those
items
require
no
action
and
we
thank
you
for
your
report.
Miss
Thomas.
Thank
you
very
much.
Next,
we
have
a
lease
report
from
the
finance
and
administration
cabinet
dot
Aubry.
He
is
here
to
present
on
agenda
item
number
seven.
The
lease
report
do
I,
have
a
motion
in
a
second
to
roll,
the
lease
approvals
into
one
roll
call
vote
motion
by
Senator
house.
Second,
by
Senator,
Webb
and
Mr
Aubry.
You
may
proceed.
B
Thank
you,
madam
chair.
The
first
item
I
have
is
for
the
camp
is
a
new
lease
for
the
Cabinet
for
Health
and
Family
Services
in
Bullitt
County.
During
the
renewal
process,
the
last
Ford
requested
a
rate
increase.
Therefore,
the
division
of
real
property
is
issued.
The
solicitation
that
resulted
with
one
best
and
final
proposal
received
the
initial
rental
rate
offered
was
28
dollars
per
square
foot
for
14
547
square
feet.
After
discussing
this
with
the
agency,
the
division
of
real
properties
initiated
negotiations
with
the
sole
respondent.
B
As
a
result,
the
lessover
agreed
to
reduce
the
rent
cost
to
13.50
per
square
foot
contingent
upon
the
elimination
of
structural
and
cosmetic
improvements
requested
by
the
agency.
Therefore,
the
lease
is
for
14
527
square
feet,
at
least
at
a
rental
rate
of
thirteen
dollars,
50
cents
per
square
foot,
excluding
utilities
and
janitorial
services
with
the
term
ending
June
30th
of
2030..
B
B
B
C
G
B
G
G
Significant
reports
that
are
coming
out
of
the
vacancy
rates
are
substantial
and
I
could
be
just
talking
about
other
parts
of
the
Northern
Kentucky
Region,
but
substantial
vacancy
rates,
so
I
do
think
it's
so
important
for
us
to
be
negotiating
these
with
diligence.
We
need
to
save
these
dollars
for
other
important
needs.
That's
great!
Thank
you.
N
C
A
I
C
The
lease
renewals
were
approved.
Next,
we
have
a
report
from
the
office
of
financial
management.
We
have
several
individuals
here
to
present
on
an
agenda
item
number
eight,
the
report
from
the
office
of
financial
management.
We
will
begin
with
Sandy
Williams
from
the
Kentucky
infrastructure
Authority
and
also
do
I
have
a
motion
in
a
second
to
roll.
The
fund,
a
loan
and
the
cleaner
water
program
grants
into
one
roll
call.
Vote
I,
have
a
motion
by
Senator
Howe,
second,
by
Senator
Webb,
seeing
no
objections,
Miss
Williams!
Please
begin.
O
O
First,
the
city
of
lebanon's
fund,
a
clean
water
State
revolving
fund
Loan
in
the
amount
of
seven
million
six
hundred
sixty
thousand
dollars,
is
for
their
wastewater
treatment
plant
and
sewer
system
improvements
project.
This
project
includes
replacing
existing
aerators
and
a
mechanical
bar
screen.
A
second
redundant
screen
will
also
be
installed.
O
The
project
also
involves
installation
of
a
new
oxidation,
ditch
clarifier
and
digester
to
increase
plant
capacity
from
3
million
gallons
per
day
to
3.75
million
gallons
per
day.
The
improvements
will
allow
the
city
to
provide
continued
treatment
at
the
existing
site
in
a
more
efficient
and
cost-effective
manner.
O
Two
problematic
lift
stations
will
also
be
eliminated
and
replaced
with
a
gravity
sewer
line
that
will
connect
to
an
existing
Interceptor
sewer.
This
will
reduce
sewer
overflow
issues
and
eliminate
the
power
and
maintenance
costs
at
each
lift
station.
This
will
be
a
30-year
loan
with
a
0.5
percent
interest
rate,
and
this
loan
was
approved
at
the
April
6th
Ka
award
meeting
continuing
on
with
the
cleaner
water
grants
of
the
Nine
cleaner
water
program.
Grant
funded
projects
all
are
reallocations
from
previously
presented
projects
from
the
county
allocation
pool.
O
Four
of
the
greens
originated
from
the
2021
session
appropriation,
County
allocation
pool
with
one
sewer
project
and
three
drinking
water
projects.
Five
of
the
nine
reallocation
requests
originated
from
the
2022
session
appropriation
and
represent
drinking
water
projects.
All
reallocation
documentation
was
submitted
to
Kia
by
local
elected
officials
and
utility
managers
and
representative
Petrie.
There
is
one
project
in
your
District
and
that
concludes
my
report
today.
C
P
Good
morning,
I'm
Katie
Smith
I'm,
the
deputy
secretary
of
the
cabinet
for
economic
development
and
I'm
here
today
to
present
the
first
of
our
Kentucky
product
development
initiative
rounds
of
Grants.
So
we
do
thank
you
all
and
the
governor
for
appropriating
100
million
dollars
to
this
very
important
program
to
help
us
with
putting
in
infrastructure
improvements,
input
sites
that
could
lead
to
potential
Economic
Development
projects.
P
So
the
first
three
we
have
for
you
today.
The
first
one
is
five
hundred
thousand
dollars
to
the
city
of
Richmond
on
behalf
of
the
Richmond
Industrial
Development
Corporation,
and
they
are
planning
to
develop
and
Implement
a
land
grading
plan
to
prepare
the
Topography
of
46
Acres
of
property
owned
by
the
Industrial
Corporation
in
the
Richmond
Industrial
Park
South
there
in
Richmond,
and
then
the
second
one
we
have
is
750
000.
P
After
we
have
received
documentation
and
invoices
proof
of
evidence
of
the
infrastructure
improvements,
the
projects
were
recommended
by
the
secretary
of
the
cabinet
for
economic
development
incurred
by
the
finance
secretary
according
to
statute,
and
then
the
Kentucky
Economic
Development
Finance
Authority
approved
each
of
the
projects
at
its
meeting
on
March
30th
and
the
state
property
buildings,
commission
approved
the
projects
at
its
meeting
on
April
18th,
and
we
respectfully
request
approval
of
these
three
projects.
Today,.
C
Very
good-
this
is
certainly
exciting.
Yes,
it
is.
Does
any
member
have
questions
representative,
Petrie.
M
D
P
Are
we
had
54
applications
recommended
under
the
that
are
in
the
due
diligence
process
right
now
to
the
cabinet
and
those
totaled
33
34
million
round
about?
And
so
we
have
been
marketing
round
two
and
we
did
a
webinar
on
March
30th
and
we
have
information
available
on
our
website
with
the
requests
for
letters
of
intent
due
April
28th
I
believe,
is
the
date
applications
for
round
two
are
due
March
or
I'm:
sorry,
June,
23rd
and
right
now
we're
marketing.
We
have
at
least
66
million
dollars
available,
we've
been
to
Prestonsburg.
P
We
had
a
meeting
there
with
soar
and
several
communities
there
in
Eastern
Kentucky
at
the
beginning
of
April,
to
talk
about
kpdi
round
two
and
we've
been
in
Western
Kentucky
as
well
last
week.
I
believe
it
was
to
meet
with
TVA
and
some
communities
there
so
we're
out
and
about.
If
anybody
has
any
questions,
we're
trying
to
get
there's
lots
of
activity
and
in
round
two
you
can
see
I'm
sure
the
the
one
million
521
000
that
might
have
been
the
cap
for
that
Community.
P
Good
question
so,
based
on
our
timeline
that
we're
proposing
with
the
we
we
started
sooner
and
with
our
timeline
with
the
independent
consultant,
we're
hoping
to
have
them
finalize
and
get
us
some
recommendations
by
October
November.
So
we
can
hopefully
begin
maybe
January
of
next
year
with
some
approvals,
because
we
we
do
really
want
to
try
and
get
some
information
back
to
you
all
for
decisions
for
next
session.
I'm.
M
Really
hoping
to
get
that
information
back
to
us
also
before
next
session
starts
and
if
I
and
if
I
may,
just
because
there
was
a
hundred
million,
there
doesn't
mean
that
a
hundred
million
has
to
be
spent
within
a
certain
time
frame.
This
is
a
program
developed
so
that
independent
parties
help
evaluate.
So
this
is
not
the
normal
government
process
of
here's
the
money.
You
must
use
it
all
within
a
certain
time
frame.
This
is
in
good
faith
by
the
general
assembly.
P
That
is
correct
now
for
each
round,
when
we
do
these
approvals
so
with
round
ones,
we
do
put
in
requirements
that
they
have
to
have
all
the
requests
for
disbursements
by
September
30th
of
2024,
and
all
funds
have
to
be
dispersed
by
our
cabinet
by
December
31st
of
2024,
and
that's
because
we
want
projects
that
are
are
needing
to
move
now,
not
three
years
from
now.
If
it's
three
years
from
now,
then
please
wait.
P
C
A
C
Q
Foreign
thank
you
Ryan
bear
with
Office
of
Financial
Management.
The
first
item
for
consideration
today
is
a
Kentucky
housing,
conduit
transaction.
This
is
80
units
located
in
Louisville
Kentucky
estimated
sale
will
be
sometime
this
summer
of
2023
anticipated
net
proceeds.
15
million
dollars
on
north
of
27
million
project
do
want
to
say
there
is
no
extension
of
credit
of
the
Commonwealth
or
the
corporation.
This
is
a
liability
of
the
private
developer.
However,
they
do
receive
private
activity.
Q
C
C
Q
It's
a
happy
to
present
refunding
I
thought
it
would
be
a
little
longer,
but
we
do
have
an
asset
liability
Alco.
We
call
it
Federal,
Highway
trust
fund.
So
basically
the
federal
portion
of
the
gas
tax
that
you
pay
at
the
pump
goes
to
service
this
debt.
Originally,
this
is
for
refunding
of
the
2013
notes.
That
project
was
a
minor
portion
of
the
funding
for
the
Louisville
Bridge
that
was
appropriated
in
the
2010
session.
Q
There
is
an
estimated
net
Savings
of
1.8
million,
with
3.28
percent
savings
percentage,
that's
kind
of
a
more
normal
in
my
career,
but
definitely
a
lot
lower
than
we've
seen
in
the
last
decade
of
historically
low
interest
rates.
But
it
is
a
material
amount
of
savings
that
we
are
pursuing
in
a
volatile
market,
so
obviously
subject
to
market
conditions.
Q
It
is
a
current
call
and
that's
why
we
can
do
the
refunding
now,
basically,
at
our
discretion
within
90
days
of
the
call
day,
we
can
bring
that
paper
back
from
investors
and
reissue
at
a
lower
interest
rate.
It
is
a
competitive
transaction.
It's
a
little
unique!
That's
due
to
the
small
size
for
a
commonwealth
transaction
and
there's
the
financing
team
is
in
the
packet
and
happy
to
take
any
questions
on
this
refunding.
A
M
C
Yes,
the
debt
issue
was
approved.
Mr
Merrell
is
here
now
to
present
the
school
district
debt
issues
with
the
sfcc
participation,
which
will
require
action
and
do
I
have
a
motion
in
a
second
to
roll
them
into
one
roll
call
vote
motion
by
Senator
house
second
by
Senator,
Webb,
saying
no
objections,
Mr
Barrow,
please
begin.
Q
Thank
you
very
much
if
I
may
just
present
these
in
kind
of
two
different
categories,
there
are
five
new
issues:
new
money
transactions
for
various
projects
in
the
school
districts,
there's
an
estimated
about
13
sfcc
participation
that
represents
13
million
in
estimated
par
with
a
local
portion
being
the
majority
about
87
percent
and
87
million
dollars.
Q
Coincidentally,
in
estimated
par
there's,
no
tax
increase
necessary
to
finance
any
of
these
projects
and
happy
to
take
any
questions
on
the
new
money,
but
just
moving
to
the
Oldham
County
School
District,
again,
a
unique
opportunity
for
estimated
four
percent
savings
represents
260
thousand
dollars
to
the
district,
with
25
percent
sfcc
participation
about
1.4
million,
in
par
with
4.3
million
estimated
about
74
75
percent.
No
taxes
obviously
necessary
for
refunding
happy
to
take
any
questions
on
any
of
the
projects.
Q
So,
as
I
page
through
here
I
can
answer
I
found
it
DBC
schedule,
so
that
is
the
the
unique
looking
Pages
kind
of
in
that
section
of
the
pack
and
I:
don't
have
the
exact
same
packet.
It
represents
quite
a
few
projects,
so
there
is
five
or
six
roof
Replacements
across
the
district.
Q
There
is
I,
believe
I
think
it's
itemized
out
on
what
I
call
a
sources
and
uses
of
funds.
Actually
it
is
labeled
that
in
the
DVC
schedule
there
is
two
three
four
boilers
and
then
there's
approximately
two
HVAC
systems.
The
HVAC
in
terms
of
total
par
is
the
majority,
but
there
are
quite
a
few
repairs
and
Replacements
kind
of
Maintenance
items
throughout
the
district
that
they
are
funding
with
this
transaction.
Q
Q
Q
Yes,
so,
as
I
mentioned,
the
really
the
HVAC
systems
are
the
largest
portion
of
this.
The
use
of
funds
at
33
million
and
27
million
respectively.
Q
Sure
so
maybe
a
little
out
of
my
expertise,
because
really
we
focus
more
on
the
financing,
but
basically
the
answer
that
I
can
give.
This
is
really
a
district
LED
initiative
and
a
district
LED
financing.
So
we
review
for
the
sfcc,
so
procurement
rules
in
place
at
the
district
you
know
would
require
you
know
bids
out
on
the
street
their
process,
just
as
Scott
Aubry
discussed
competitive
negotiations.
So
really
that's
District
specific,
so
I
don't
have
any
information
past.
That's
their
procurement
laws
and
rules
and
regulations.
Then
sfcc
has
a
review.
Q
They
actually
go
into
the
details
related
to
that
ofm.
We
really
just
look
at
the
financing
and
you
know
whether
it's
ten
roofs
or
20
roofs.
It
really
doesn't
matter
as
much
as
for
us
because
we're
looking
at
financing
in
the
bond
transaction
so
past
that
I'm
happy
to
work
with
sfc
and
get
more
specific
to
the
district
procurement
rules,
but
that's
in
general
how
it
works.
Q
Really,
that's
all
district-led,
so
you
know
we
we
will,
you
know,
approve
the
transaction,
but
they
will
actually
issue
the
transaction,
it's
in
their
name
and
it's
their
liability,
absent
sfcc
portion
that
we
actually
pay.
So
that's
why
we
have
a
review
in
this
process
and
obviously
you
all
have
to
approve
the
projects,
because
it's
state
money.
M
Q
Yes,
we
had
a
drop
in
rates
recently
that
I
think
I
mentioned
at
the
last
meeting.
So
you
know,
hopefully
we
get
the
refunding
through
and
the
new
money
at
the
cheapest
cost
Capital.
But
you
know
who
knows
what
interest
rates
will
do.