Title
A Resolution authorizing the Mayor, on behalf of the Urban County Government, to execute an Extension Agreement with Metro Employees Credit Union to extend its Lease of space at 1306 Versailles Rd. and 101 East Vine Street by three (3) years, in consideration of a combined sum of $47,156.04 per year. [Office of the Chief Administrative Officer, Hamilton]
Summary
Authorization to execute amendment to Lease Agreement Contract #306-2013 with Metro Employees Credit Union (MECU) for leased space at the Phoenix Building and Contract # 304-2013 for leased space at 1306 Versailles Road Campus for a period of one year with two additional years to roll over automatically. All lease terms and conditions will remain unchanged. he annual leased income for both locations is $47,156.04 ($141,468.12 over three years). Extended contact will begin July 1, 2018 and expire June 30, 2021. (L0476-18) (Hamilton)
Budgetary Implications [select]: Yes
Advance Document Review:
Law: No
Risk Management: No
Fully Budgeted: 1101-011001-0001-42181
Account Number:
This Fiscal Year Impact: $
Annual Impact: $47,156.04 FY 2019
Project:
Activity:
Budget Reference:
Current Balance: Included in FY 2019 Mayor’s Proposed Budget
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 the Extension Agreement, which is attached hereto and incorporated herein by reference, extending the lease with Metro Employees Credit Union for space at 1306 Versailles Road and 101 East Vine Street by three (3) years, in consideration of a combined sum of $47,156.04 per year.
Section 2 - That this Resolution shall become effective on the date of its passage.
PASSED URBAN COUNTY COUNCIL:
___________________________________
MAYOR
ATTEST:
________________________________
CLERK OF URBAN COUNTY COUNCIL