Title
A Resolution authorizing the submission of an application for Ky. Economic Development Finance Authority Grant funds for the Bingham McCutchen LLP Economic Development Bond Project in the amount of $450,000, and authorizing the Mayor to execute and submit a Grant Application and any and all other documents necessary for the submission of the application and development of the Project, including any Agreement with Bingham McCutchen LLP, and to accept the Grant funds if approved. [Div. of Grants and Special Programs, Gooding]
Summary
Authorization to submit application and accept award if offered from the Kentucky Economic Development Finance Authority for the Bingham McCutchen LLP Economic Development Bond Project and to execute agreement with Bingham McCutchen LLP. (L1188-12) (Gooding/Moloney)
This is a request to submit application and accept award if offered from the Kentucky Economic Development Finance Authority for the Bingham McCutchen LLP Economic Development Bond Project in the amount of $450,000 and to execute agreement with Bingham McCutchen LLP. Budget amendment is in process.
Budgetary Implications: YES
Advance Document Review: Law/Risk Management
Fully Budgeted: BA number 4549 in process
Account Number: 3400-133004-0001-XXXXX
This Fiscal Year Impact: $450,000
Annual Impact: $
Project:
Activity:
Budget Reference:
Current Balance:
Body
WHEREAS, the Lexington-Fayette Urban County Government has determined that it is in the best interest of the government and its citizens to seek Kentucky Economic Development Finance Authority (KEDFA) grant funds for the Bingham McCutchen LLP Economic Development Bond Project.
NOW THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE LEXINGTON-FAYETTE URBAN COUNTY GOVERNMENT:
Section 1 - That the submission of an application for Kentucky Economic Development Finance Authority (KEDFA) grant funds for the Bingham McCutchen LLP Economic Development Bond Project in the amount of four hundred fifty thousand dollars ($450,000) is hereby authorized, as the project will foster economic development and create jobs.
Section 2 - That the Mayor, on behalf of the Lexington-Fayette Urban County Government, be and hereby is authorized to execute and submit the Grant Application, which is attached hereto and incorporated herein by reference, to the Kentucky Cabinet for Economic Development and is further authorized to execute the statement of assurances and any and all other documents necessary for the submission of the application and development of the project, including any agreement with Bingham McCutchen LLP, to provide any additional information requested in connection with this Grant Application and to accept the Grant funds if approved.
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