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RESOLUTION NO. 77, SERIES 2014 <br />A RESOLUTION APPROVING A COOPERATION AGREEMENT WITH THE <br />LOUISVILLE REVITALIZATION COMMISSION FOR THE REGIONAL <br />DETENTION FACILITY LAND COMPENSATION <br />WHEREAS, the Louisville Revitalization Commission is charged with <br />addressing issues contributing to blight within the Urban Renewal Area; and <br />WHEREAS, the Core Project Area within the Urban Renewal Area is <br />being designed to accommodate storm water detention off -site on City owned <br />property located north of the City's wastewater treatment facility on Empire Road; <br />and <br />WHEREAS, on July 1, 2014 the City Council directed staff to negotiate an <br />agreement for use of the land for a Regional Detention Facility; and <br />WHEREAS, a real estate appraisal was conducted for the City to <br />determine the market value of the land utilized for the Regional Detention <br />Facility; and <br />WHEREAS, the attached Cooperation Agreement is needed to determine <br />the price and payment terms between the City of Louisville and the Louisville <br />Revitalization Commission. <br />NOW, THEREFORE, BE IT RESOLVED BY THE LOUISVILLE CITY <br />COUNCIL: <br />Section 1. The Cooperation Agreement with the Louisville Revitalization <br />Commission for the Regional Detention Facility Land Compensation is hereby <br />approved. <br />Section 2. The Mayor is hereby approved to sign the Cooperation <br />Agreement. <br />PASSED AND ADOPTED this 16th day of December, 2014. <br />Nancy Varra, City Clerk <br />- (,LAtA), <br />Robert P. Muckle, Mayo <br />Resolution No. 77, Series 2014 <br />Page 1 of 1 <br />