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Committee approves forwarding EDF closeout funding and $25,000 Enerfund transfer for retail summit
Summary
City staff told the Committee that the city has received reimbursements for most of a $7 million EDF grant project at Commerce Park 2 and requested a final match/closeout amount; the committee also approved a $25,000 Enerfund transfer for an International Council of Shopping Centers recruitment summit.
Melissa Clayton told the Committee of the Whole that the city was in the closeout phase of a State of Kentucky Economic Development Fund (EDF) grant related to infrastructure at Commerce Park 2 and that the grant originally totaled $7,000,000 with a required $4,000,000 local match. Clayton said the city needed $334,000.34 to close out the grant and that council had previously passed related memoranda of understanding for match items. She said the city has a grant‑matching account with $250,000 available and budgeted funds that can replenish the match account.
A council member asked whether the funds were available and Clayton said yes, the grant matching fund held $250,000 and the city budgets annually to replenish the fund, so closing out would not require a budget amendment but would require the appropriate memorandum of understanding to be approved by council.
Clayton also said the grant paid for design and construction of a rail spur portion and other related infrastructure, and that reimbursements from the state had been received for previous items. The Committee voted to forward the closeout memorandum to full council for final approval.
Separately, Clayton requested an Enerfund transfer of $25,000 to support the International Council of Shopping Centers retail recruitment summit; the Committee approved that transfer on a voice vote. Clayton said the transfer would be split among administrative accounts listed in her request.
Why it matters: the closeout of a large state EDF grant and the Enerfund transfer both affect city economic‑development accounting and the availability of funds for recruitment and infrastructure projects. Clayton said staff would provide documentation and memos to council for formal approval.
