Title
A Resolution authorizing the Mayor, on behalf of the Urban County Government, to execute Purchase of Service Agreements for Fiscal Year 2017 with Commerce Lexington ($457,000), the Downtown Lexington Corp. ($42,710), Downtown Development Authority ($324,540), World Trade Center Ky. ($72,000), SCORE ($7,000), Lyric Theatre ($150,000) and LexArts ($489,050) at a total cost not to exceed $1,542,300. [Mayor's Office, Atkins]
Summary
Authorization to execute Purchase of Service Agreements for FY2017 with economic development partner agencies. The LFUCG enters into purchase of service Agreements with Commerce Lexington ($457,000), the Downtown Lexington Corporation ($42,710), Downtown Development Authority ($324,540), World Trade Center Kentucky ($72,000), SCORE ($7,000), Lyric Theatre ($150,000), and LexArts ($489,050) for the provision of Economic Development Services. The Budgetary impact for FY 2017 will be $1,542,300. Funds are Budgeted. (L0733-16)(Atkins)
Budgetary Implications: Yes
Advance Document Review:
Law: Yes, Completed by Edwards/Barberie
Risk Management:
Fully Budgeted: Included in FY 2017 Mayor’s Proposed Budget
Account Number: 1101-900101-0001-71101 $457,000.00
1101-900103-0001-71101 $42,710.00
1101-900609-0001-82101 $324,540.00
1101-900104-0001-71101 $72,000.00
1101-900105-0001-71101 $7,000.00
1101-900107-0001-71101 $150,000.00
1101-900109-0001-71101 $489,050.00
This Fiscal Year Impact: $1,542,300 (FY 2017)
Annual Impact: $
Project:
Activity:
Budget Reference:
Current Balance: Included in FY 2017 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 Purchase of Service Agreements for fiscal year 2017, which are attached hereto and incorporated herein by reference, with Commerce Lexington, the Downtown Lexington Corporation, Downtown Development Authority, World Trade Center Kentucky, SCORE, Lyric Theatre, and LexArts to provide services to the public.
Section 2 - That an amount not to exceed the sum of $1,542,300.00 be and hereby is approved for payment to Commerce Lexington ($457,000.00 from account #1101-900101-0001-71101), the Downtown Lexington Corporation ($42,710.00 from account #1101-900103-0001-71101), Downtown Development Authority ($324,540.00 from account 1101-900609-0001-82101), World Trade Center Kentucky ($72,000.00 from account 1101-900104-0001-71101), SCORE ($7,000.00 from account #1101-900105-001-71101), Lyric Theatre ($150,000.00 from account #1101-900107-0001-71101), and LexArts ($489,050.00 from account #1101-900109-0001-71101) pursuant to the terms of the respective Purchase of Service Agreements.
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