Budget Committee

601 W. Jefferson Street Louisville Metro Government Louisville, KY 40202 Action Summary - Tentative Budget Committee Chair Bill Hollander (D-9) Vice Chair Kevin Kramer (R-11) Committee Member Keisha Dorsey (D-3) Committee Member Barbara Sexton Smith (D-4) Committee Member Paula McCraney (D-7) Committee Member Pat Mulvihill (D-10) Committee Member Cindi Fowler (D-14) Committee Member Scott Reed (R-16) Committee Member Markus Winkler (D-17) Committee Member Anthony Piagentini (R-19) Committee Member Brent Ackerson (D-26) Thursday, September 10, 2020 4:30 PM Council Chambers Call to Order Chair Hollander called the meeting to order at 4:31 p.m. Roll Call Chair Hollander introduced the committee members and non-committee members present. A quorum was established. *NOTE: All committee members and non-committee members present attended virtually. Present: 10 - Chair Bill Hollander (D-9), Vice Chair Kevin Kramer (R-11), Committee Member Keisha Dorsey (D-3), Committee Member Barbara Sexton Smith (D-4), Committee Member Paula McCraney (D-7), Committee Member Pat Mulvihill (D-10), Committee Member Cindi Fowler (D-14), Committee Member Scott Reed (R-16), Committee Member Markus Winkler (D-17), and Committee Member Anthony Piagentini (R-19) Excused: 1- Committee Member Brent Ackerson (D-26) Support Staff Hollie Hopkins, Jefferson County Attorney's Office Clerk(s) Cheryl Woods, Assistant Clerk Sonya Harward, Clerk Louisville Metro Government Page 1 Budget Committee Action Summary - Tentative September 10, 2020 Pending Legislation 1. O-414-20 AN ORDINANCE CONCERNING THE LEVY OF TAXES WITHIN THE LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT AND THE LOUISVILLE URBAN SERVICES DISTRICT FOR FISCAL YEAR ENDING JUNE 30, 2021. Sponsors:Primary Bill Hollander (D-9) and Additional Kevin Kramer (R-11) Attachments: O-414-20 V.1 090320 Levy of Taxes for FY 20-21.pdf Aug. 25, 2020 Letter from State Local Finance Office RE 2020 Assessment Info..pdf A motion was made by Committee Member Winkler, seconded by Committee Member Dorsey, that this Ordinance be recommended for approval. Daniel Frockt, Office of Management and Budget, gave a presentation. The following spoke to this item: - Chair Hollander - Committee Member Piagentini - Committee Member Kramer - Hollie Hopkins, Jefferson County Attorney's Office The following was discussed: - Rate adjustment was built into the budget - Budget was voted on June 2020 - Prior to the pandemic, PVA gave sale values on homes compared to assessments - Several new neighborhoods have been built since last assessment - Next set of assessments will be much higher - Discount rate in Ordinance is for bank deposits - Question if discounts are statutory - Louisville Metro has a $50 million line of credit - Question about what impact will a delay have on credit rating with the bond company - Tax bill will be sent out on November 1, 2020 - Interest rates low if we have to borrow - Committee Member Kramer asked to be added on as a co-sponsor upon the approval of the sponsor The motion carried by the following vote and the Ordinance was sent to the Consent Calendar: Yes: 10 - Hollander, Kramer, Dorsey, Sexton Smith, McCraney, Mulvihill, Fowler, Reed, Winkler, and Piagentini Excused: 1- Ackerson Adjournment Without objection, Chair Hollander adjourned the meeting at 4:57 p.m. Louisville Metro Government Page 2 Budget Committee Action Summary - Tentative September 10, 2020 Note: Items sent to the Consent Calendar or Old Business will be heard before the full Council at the Metro Council Meeting on September 17, 2020. Louisville Metro Government Page 3