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Budget Committee approves Memorandum of Agreement for Arena Project

Wednesday July 12, 2006

Majority Caucus
Louisville Metro Council
For More Information Contact:
Tony Hyatt: 574-4137/ 526-3622
For Immediate Release:

Louisville – In a vote of 5 to 2, the Metro Council’s Budget Committee has given approval to the Memorandum of Agreement with the Louisville Arena Authority for the new downtown facilities.

“We have had some good discussions and made some important changes that will serve this community well,” says Budget Chairman Rick Blackwell (D)12. “I am disappointed that the committee removed an important component that would require union participation in the negotiation of agreements.”

During the meeting, guarantees of union participation were removed but the matter must still go before the full Council.

Other revisions to the agreement address use of tax money as well as spell out conditions for employment and contractors during the 40 month construction phase.

In approving the resolution supporting the agreement, the Committee has saved up to $100 million in tax payer dollars over 30 years of the bond project for the proposed arena.

The committee has also fashioned terms of a labor agreement that will require 75 per-cent of the work force for the construction phase of the project will be from the Kentucky and Indiana. Sixty per-cent of those jobs are reserved for resident of the 15 county Metro Louisville Standard Metropolitan Statistical Area.

“This committee has asked some tough questions and listened to all sides in an effort to be fair to everyone in Metro Louisville who wants too work on the new arena,” said Majority Leader Jim King (D)10. “We have been asked to make a commitment of millions of dollars to this project in the future and it is a commitment we have not taken lightly.”

The agreement also calls for a goal of 20 per cent minority participation. There is also a goal of 5 per cent for women participation. The agreement also spells out opportunities for union and non-union employees and contractors.

The prevailing wage will be paid for each trade on the project.

The agreement also calls for the Arena Authority to include the President of the Metro Council as an ex-offcio member of its board.

The resolution moves on to the Council where a vote may be taken on Thursday night.

Sponsor(s):
Rick Blackwell (D)12
Jim King (D)10