Attachment B - KFC MA 758 - 1900000427 - Executed Copy - original 2018.pdf

This is a Master Agreement between the Commonwealth of Kentucky, specifically the Tourism, Arts, and Heritage Cabinet's Department of Fish & Wildlife Resources, and Kentucky Fish Center, LLC for a Commercial Fish Harvest and Distribution Operation targeting Asian carp removal from Kentucky waters. The contract runs from October 1, 2018 through December 31, 2024, with the Fish House beginning service on January 1, 2019. The primary objective is to develop a business plan for a Fish House that assists in creating industry stability by working with commercial Asian carp fishermen and fish processing companies. The contract establishes progressive annual harvest targets, starting at 5 million pounds of Asian carp in Year 1 and escalating to 20 million pounds by Years 5 and 6.

The Commonwealth will provide financial support through a package of incentives and a forgivable loan, with a total support amount not exceeding the contracted amount over six years. This includes matching startup capital in the form of a forgivable loan (1:1 match, up to $1,000,000) with a 12-year term at a variable rate currently at 5.00%. Incentive payments are contingent on meeting specific harvest targets and employment requirements, with at least 50% of Fish House employees being Kentucky residents. The electronic bid process will be administered by the Commonwealth, with the Fish House required to sell harvested fish to the highest registered bidders. Additional requirements include providing transportation, cold storage, sufficient capital to purchase fish, and maintaining transparent sales processes.