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Budget committee recommends confirmation of interlocal agreement for 105 Industry Drive (Yokohama building)
Summary
The committee voted to recommend resolution 26-7 to the full fiscal court, affirming an interlocal partnership with the city of Versailles to proceed with bonding and purchase of 105 Industry Drive; the agreement will be submitted to the Department for Local Government for registration.
The Woodford County Fiscal Court committee of the whole recommended that the full court adopt resolution 26‑7, which affirms an interlocal partnership with the city of Versailles related to acquisition, maintenance, development and promotion of the property at 105 Industry Drive (the Yokohama building).
Stan Kramer of First Kentucky Securities summarized the purpose: the interlocal agreement must be submitted to the Kentucky Department for Local Government and registered with the secretary of state to allow the city and county to proceed with bonding related to the purchase. Kramer said the interlocal follows earlier drafts and was executed on Nov. 26, 2025, as part of the purchase framework.
Lucas Wit, the EDA consultant, said the team is preparing for decision points on bonding and a possible closing with the property owner. The committee reviewed the documents, and the judge asked for a motion recommending the resolution to the full fiscal court because this was a special meeting.
Squire Taylor moved and Squire Downey seconded a motion to recommend adoption of resolution 26‑7 to the full fiscal court. The clerk called the roll and the chair announced the committee vote was favorable; the resolution will be presented for the full court’s vote at the regular fiscal court meeting at 5:30.
No further questions were requested of the city/county consultants, and Kramer and Wit were excused.
