Title
A Resolution authorizing and directing the Mayor, on behalf of the Urban County Government, to execute a Subrecipient Agreement with Lexington Community Land Trust, for construction of up to eight (8) units of affordable housing as part of the Newtown Pike Extension Project, at a cost not to exceed $210,833. [Div. of Grants and Special Programs, King]
Summary
Authorization to execute Subrecipient Agreement in the amount of $210,833 with the Lexington Community Land Trust as approved for funding under the Memorandum of Agreement with the Office of the Attorney General of Kentucky for use of National Foreclosure Settlement Funds. Budget Amendment is in process. (L0179-17) (King/Hamilton)
Budgetary Implications: Yes
Advance Document Review:
Law: February 14, 2017
Risk Management:
Fully Budgeted: BA 8167 is in process.
Account Number: 3400-900214-0001-71101
This Fiscal Year Impact: $210,833
Annual Impact:
Project: KY_LPS_2014
Activity: STA_GRANT
Budget Reference: 2014
Current Balance: BA 8167 in process
Body
BE IT RESOLVED BY THE COUNCIL OF THE LEXINGTON-FAYETTE URBAN COUNTY GOVERNMENT:
Section 1 - That the Mayor, on behalf of the Lexington-Fayette Urban County Government, be and hereby is authorized and directed to execute the Subrecipient Agreement, which is attached hereto and incorporated herein by reference, with Lexington Community Land Trust, for construction of up to eight (8) units of affordable housing as a part of the Newtown Pike Extension Project.
Section 2 - That an amount, not to exceed $210,833.00, be and hereby is approved for payment to Lexington Community Land Trust, from account #3400-900214-71101, pursuant to the terms of the Subrecipient Agreement.
Section 3 - That this Resolution shall become effective on the date of its passage.
PASSED URBAN COUNTY COUNCIL:
___________________________________
MAYOR
ATTEST:
______________________________
CLERK OF URBAN COUNTY COUNCIL