Title
A Resolution authorizing the Mayor, on behalf of the Urban County Government, to execute a Jobs Fund Loan Agreement in the amount of $250,000.00 with Fusioncorp, LLC, for the creation of at least eight (8) new full-time jobs with a mean hourly wage of at least $27.00, exclusive of benefits and other compensation, in Lexington-Fayette County. [Mayor’s Office, Atkins]
Summary
Authorization to execute a Jobs Fund Loan Agreement with Fusioncorp, LLC for $250,000 for the creation of eight (8) new jobs as part of the Co.’s product and service expansion at an average hourly wage of $27.00. Funds are Budgeted (L1035-17) (Atkins)
Budgetary Implications [select]: Yes
Advance Document Review:
Law: { Yes, Completed by [Edwards, 9/12/17]}
Risk Management: No
Fully Budgeted [select]: Yes
Account Number: 1144-136101-0001-78103
This Fiscal Year Impact: $250,000
Annual Impact: $0
Project:
Activity:
Budget Reference:
Current Balance: $1,586,485.36
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 to execute a Jobs Fund Loan Agreement, which is attached hereto and incorporated herein by reference, in the amount of $250,000.00 with Fusioncorp, LLC, for the creation of at least eight (8) new full-time jobs with a mean hourly wage of at least $27.00, exclusive of benefits and other compensation, in Lexington-Fayette County.
Section 2 - That an amount not to exceed the sum of $250,000.00 be and hereby is approved for payment to Fusioncorp, LLC, from account 1144-136101-0001-78103, pursuant to the terms of the Jobs Fund Loan 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