Title
A Resolution authorizing the Mayor, on behalf of the Urban County Government, to execute a Lease Agreement with Lexington & Fayette County Parking Authority for approximately 855 square feet of space at the Government Center Annex Building, located at 162 East Main Street, in consideration of anticipated revenue in the amount of $14,229.34, with an annual increase of three percent (3%) per additional renewal. [Dept. of General Services, Ford]
Summary
Authorization to enter into a lease Agreement with Lexington & Fayette County Parking Authority for space located at 162 East Main Street within the Annex Building for a period of one year with the option of two additional annual renewals. Year one annual revenue is $14,229.34 with a 3% increase for each additional renewal and is included in the FY 2026 Mayor’s Proposed Budget. (L0418-25)(Ford)
Budgetary Implications: Yes - Revenue
Advance Document Review:
Law: Yes, Completed by Gabriel Thatcher, April 7, 2025
Risk Management: No
Fully Budgeted: NA
Account Number: 1101-011001-0001-42181
This Fiscal Year Impact: NA
Annual Impact: $14,229.34 FY26 Revenue
Project:
Activity:
Budget Reference:
Current Balance: in FY 26 MPB
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 Lease Agreement, which is attached hereto and incorporated herein by reference, with Lexington & Fayette County Parking Authority, for approximately 855 square feet of space at the Government Center Annex Building in consideration of anticipated revenue in the amount of $14,229.34, with an annual increase of three percent (3%) per additional renewal.
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
0418-25:GET:4929-6629-5356, v. 1