Budget Committee

601 W. Jefferson Street Louisville Metro Government Louisville, KY 40202 Action Summary - Final Budget Committee Chair Person Bill Hollander (D-9) Vice Chair Kevin Kramer (R-11) Committee Member Mary C. Woolridge (D-3) Committee Member Cheri Bryant Hamilton (D-5) Committee Member Angela Leet (R-7) Committee Member Rick Blackwell (D-12) Committee Member Cindi Fowler (D-14) Committee Member Marianne Butler (D-15) Committee Member Scott Reed (R-16) Committee Member Marilyn Parker (R-18) Committee Member Brent Ackerson (D-26) Thursday, March 15, 2018 4:30 PM Council Chambers Call to Order Chair Person Hollander called the meeting to order at 4:38 PM. Roll Call Chair Person Hollander introduced the committee members and non-committee members present. A quorum was established. Committee Member Hamilton arrived at 4:40 PM, Committee Member Fowler arrived at 4:41 PM and left at 5:11 PM and Committee Member Ackerson arrived at 4:47 PM and left and 5:02 PM. Present: 10 - Chair Person Bill Hollander (D-9), Vice Chair Kevin Kramer (R-11), Committee Member Mary C. Woolridge (D-3), Committee Member Cheri Bryant Hamilton (D-5), Committee Member Angela Leet (R-7), Committee Member Rick Blackwell (D-12), Committee Member Cindi Fowler (D-14), Committee Member Scott Reed (R-16), Committee Member Marilyn Parker (R-18), and Committee Member Brent Ackerson (D-26) Excused: 1- Committee Member Marianne Butler (D-15) Non-Committee Member(s) Council Member Barbara Sexton Smith (D-4) and Council President David James (D-6) Support Staff Sarah Martin, Jefferson County Attorney's Office LaTonya Bell, Metro Council Finance Clerk(s) Jess Helton, CKMC and Lisa Franklin Gray, Assistant Clerk Louisville Metro Government Page 1 Budget Committee Action Summary - Final March 15, 2018 Special Discussion 1. ID 18-0360 UPDATE ON THE REFINANCING OF THE ARENA AND CURRENT OPERATIONS - SCOTT COX, CHAIRMAN, LOUISVILLE ARENA AUTHORITY Mr. Cox spoke and answered questions. Pending Legislation 2. O-049-18 AN ORDINANCE AMENDING ORDINANCE NO. 114, SERIES 2017 AND ORDINANCE NO. 115, SERIES 2017 RELATING TO THE FISCAL YEAR 2017-18 OPERATING AND CAPITAL BUDGETS, RESPECTIVELY, BY TRANSFERRING $40,000 FROM THE DISTRICT 11 NEIGHBORHOOD DEVELOPMENT FUND TO THE DISTRICT 11 CAPITAL INFRASTRUCTURE FUND. Sponsors:Primary Kevin Kramer (R-11) Attachments: O-049-18 V.1 030818 D11 Budget Transfer NDF to CIF.pdf A motion was made by Committee Member Woolridge, seconded by Vice Chair Kramer, that this Ordinance be recommended for approval. Vice Chair Kramer spoke to the item. The motion carried by the following vote and the Ordinance was sent to the Consent Calendar: Yes: 8- Hollander, Kramer, Woolridge, Hamilton, Leet, Blackwell, Reed, and Parker Excused: 1- Butler Absent: 2- Fowler, and Ackerson 3. O-440-17 AN ORDINANCE AMENDING SECTION 50.24 OF THE LOUISVILLE METRO CODE OF ORDINANCES (LMCO) TO INCREASE THE DEBT SERVICE ADJUSTMENT FROM SEVEN PERCENT (7%) TO TEN PERCENT (10%) FOR A CERTAIN PERIOD OF TIME. Sponsors:Primary Barbara Sexton Smith (D-4), Primary Stuart Benson (R-20) and Primary David James (D-6) Attachments: O-440-17 PROPOSED CABS Sect 50.24 Increase Debt Service to 10%.pdf O-440-17 V.1 113017 Sect 50.24 Increase Debt Service to 10%.pdf 031518 3-12-2018budgetcommitteepkg.pdf 030118 MSD Metrocouncilpresentationbudgetcommittee.pdf This item remained Held in Committee. Louisville Metro Government Page 2 Budget Committee Action Summary - Final March 15, 2018 Adjournment Without objection, Chair Person Hollander adjourned the meeting at 5:39 PM. *NOTE: Items sent to the Consent Calendar or Old Business will be heard before the full Council at the Metro Council Meeting on March 22, 2018. Louisville Metro Government Page 3