Title
A Resolution authorizing and directing the Mayor, on behalf of the Urban County Government, to execute a Memorandum of Understanding with Town Branch Park, Inc. and Lexington Center Corporation, to memorialize the responsibilities of each party as it relates to roadway and pedestrian improvements to Town Branch Park, at no cost to the Urban County Government. [Mayor's Office, Peacher]
Summary
Authorization to execute a Memorandum of Understanding with Town Branch Park, Inc. and Lexington Center Corporation related to the High Street Town Branch Park entrance design and construction, pending partner agency approvals. Cost to construct the Rd.way and pedestrian improvements to the park as referenced in the MOU is not to exceed $7,420,300. Budget amendments in process to move Budgeted funds to proper capital project accounts. (L0256-23) (Peacher/Scott)
Budgetary Implications: Yes
Advance Document Review:
Law: Yes, Completed by Evan Thompson
Risk Management: No.
Fully Budgeted: Budget Amendment in process
Account Number: 2613-303202-3251-91715 $5,000,000
1105-303202-3251-91715 $2,420,300
This Fiscal Year Impact: $7,420,300.00
Annual Impact: N/A
Project: TB_PARK1_2023 TB_PARK2_2023
Activity:
Budget Reference:
Current Balance: Budget Amendment 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 a Memorandum of Understanding, attached hereto and incorporated herein by reference, with the Town Branch Park, Inc. and Lexington Center Corporation to memorialize the responsibilities of each party as it relates to roadway and pedestrian improvements to Town Branch Park, at no cost to the Urban County Government.
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
0256-23 :EPT:X:\CASES\MAYOR\23-LE0001\LEG\00776634.DOCX