(A) When Metro Government intends to purchase or lease real property from any non-governmental person, corporation, partnership, business trust, or organization, which is not a publicly-traded company, and (1) intends to use the property as a regular, long-term workplace for any Metro Government Employees or storage facility where Metro Government property is retained; or (2) the expense of either leasing or purchasing the property will be $100,000 or more annually, the would-be lessor or owner of said property shall file a disclosure statement with the Office of the Mayor and the Government Accountability Committee of the Metro Council before execution of the real property agreement with Louisville Metro Government.
(B) The disclosure statement shall provide the names of all persons owning 5% or more of the property and/or of the corporation, partnership, business trust, or organization leasing or owning same.
(C) Any person, corporation, partnership, business trust, or organization which receives interest from the lease of real property to Metro Government and then, by way of assignment, transfer, or any other direct or indirect means, conveys some part of that interest to any other person, corporation, partnership, business trust, or organization is also required to file a disclosure statement with the Office of the Mayor and the Government Accountability Committee of the Metro Council. The disclosure statement shall identify each recipient of the interest and the amount received by each recipient.
(D) A new disclosure statement must be filed with the Office of the Mayor and the Government Accountability Committee of the Metro Council upon:
(1) Any change or transfer of ownership involving persons, including silent or limited partners, owning 5% or more of the shares in the corporation, partnership, business trust, or organization; or
(2) Any change in the ownership interest of 5% or more from the leased property by way of assignment, transfer, or any other direct or indirect means.
(Lou. Metro Ord. No. 156-2017, approved 8-25-2017)