Title
A Resolution authorizing and directing the Mayor, on behalf of the Urban County Government, to execute Purchase of Service Agreements with Commerce Lexington Inc. ($155,155.00); EHI Consultants and the Urban League of Lexington-Fayette County ($77,000.00); and Euphrates International Investment Co., LLC ($66,589.60), for Economic Development Services for the Urban County Government, at a cost not to exceed the sums stated; effective upon passage of Council. [Mayor's Office, Atkins]
Summary
Authorization to execute Purchase of Services Agreements (PSAs) with economic development partner agencies. The Lexington-Fayette Urban County Government annually Contracts with economic development agencies to provide economic development services for the government. The economic development partner agencies for FY2021 are, Commerce Lexington ($155,155.00), EHI/Urban League of Lexington-Fayette County ($77,000.00), Euphrates International Investment Company ($66,589.60). Funds are Budgeted. [L0668-20] [Atkins/Scott]
Budgetary Implications: Yes
Advance Document Review:
Law: {Yes, Completed by Evan Thompson, 6/29/2020}
Risk Management: {Select Yes/No, Completed by [Official, Date]}
Fully Budgeted: BA to follow
Account Numbers:
Commerce Lexington: ($155,155.00) 1101-900101-0001-71101
EHI/Urban League of Lexington-Fayette County: ($77,000.00) 1101-900114-0001-71101
Euphrates International Investment Company: ($66,589.60) 1101-900113-0001-71101
This Fiscal Year Impact: $298,744.60
Annual Impact: $N/A
Project:
Activity:
Budget Reference:
Current Balance: BA to follow
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 Purchase of Services Agreements, which are attached hereto and incorporated herein by reference, with the following economic development partner agencies: Commerce Lexington Inc. ($155,155.00); EHI Consultants and the Urban League of Lexington-Fayette County ($77,000.00); and Euphrates International Investment Company, LLC ($66,589.60), for economic development services for the Urban County Government, at a cost not to exceed the sums stated (cumulatively $298,744.60).
Section 2 - That an amount not to exceed $155,150.00 be and hereby is approved for payment to Commerce Lexington Inc. from account # 1101-900101-0001-71101; that an amount not to exceed $77,000.00 be and hereby is approved for payment to EHI Consultants/Urban League of Lexington-Fayette County from account # 1101-900114-0001-71101; and that an amount not to exceed $66,589.60 be and hereby is approved for payment to Euphrates International Investment Company, LLC from account # 1101-900113-0001-71101, pursuant to the terms of each Purchase of Services Agreement and contingent upon the approval of a pending budget amendment.
Section 3 - That this Resolution shall become effective on the date of its passage.
PASSED URBAN COUNTY COUNCIL:
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MAYOR