(A) The City hereby authorizes a credit of its Occupational License Fee payment requirement pursuant to the Kentucky Business Investment Program (KBI), as set forth in KRS 154.32-010 through 154.32-100, for and throughout a 10-year period, beginning and ending as stipulated in the Wage Assessment Agreement executed between the Kentucky Economic Development Finance Authority(KEFDA) and the approved company, equal to 1.0% on the wages of the P.L. Marketing Systems, Inc. resident employees created as part of the Economic Development Project. Additionally, as a result hereof, the provisions of paragraph 10 of the Memorandum of Understanding between the City of Newport and P.L. Marketing, Inc., dated September 27, 2012, as authorized by Commissioners Order R-2012- 058 on September 10, 2012, shall take effect and control.
(B) The City hereby authorizes a credit of its Occupational License Fee payment requirement, pursuant to the Kentucky Business Investment Program (KBI), as set forth in KRS 154.32-010 through 154.32-100, for and throughout a 10-year period, beginning and ending as stipulated in the Wage Assessment Agreement executed between the Kentucky Economic Development Finance Authority (KEFDA) and the approved company, equal to 1.0% on the wages of Ethos Holding Corp. d/b/a Ethos Laboratories resident employees created as part of the Economic Development Project.
(Ord. O-2009-013, passed 11-23-2009; Am. Ord. O-2011-012, passed 8-29-2011; Am. Ord. O-2011-013, passed 8-29-2011; Am. Ord. O-2013-012, passed 8-19-2013; Am. Ord. O-2013-018, passed 11-4-2013; Am. Ord. O-2013-022, passed 11-18-2013; Am. Ord. O-2014-014, passed 8-18-2014; Am. Ord. O-2016-018, passed 9-26-2016; Am. Ord. O-2021-006, passed 6-14-2021; Am. Ord. O-2022-007, passed 8-22-2022: Am. Ord. O-2023-026, passed 12-11-2023)