Title
A Resolution authorizing and directing the Mayor, on behalf of the Urban County Government, to execute a Forgivable Loan Agreement and related documents with Red Draw Liberty LLC, which shall replace those documents executed pursuant to Resolution No. 372-2024, pursuant to the Public Infrastructure Program, for sanitary sewer infrastructure improvements as well as the creation of jobs, at a cost not to exceed $489,613. [Mayor's Office, Bencz]
Summary
Authorization to execute a Public Infrastructure Program Forgivable Loan Agreement with Red Draw Liberty LLC in the amount of $489,613 for the construction of sanitary sewer infrastructure improvements to serve a ten-acre site located at 2156 Liberty Road. Funds are Budgeted. (L0706-25)(Bencz/Atkins)
Budgetary Implications [select]: Yes
Advance Document Review:
Law: {Yes, Completed by [Evan Thompson, 7/29/2025]}
Risk Management: {Select Yes/No, Completed by [Official, Date]}
Fully Budgeted [select]: Yes
Account Number: 1144-133004-0001-78103
This Fiscal Year Impact: $ 489,613
Annual Impact: NA
Project:
Activity:
Budget Reference:
Current Balance:
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 the Forgivable Loan Agreement, which is attached hereto and incorporated herein by reference, and related documents, with Red Draw Liberty LLC, which shall replace those documents executed pursuant to Resolution No. 372-2024, pursuant to the Public Infrastructure Program, for sanitary sewer infrastructure as well as the creation of jobs.
Section 2 - That an amount, not to exceed the sum of $489,613.00, be and hereby is approved for payment to Red Draw Liberty LLC, from account # 1144-133004-0001-78103, pursuant to the terms of the Forgivable Loan Agreement.
Section 3 - This Resolution shall become effective on the date of its passage.
PASSED URBAN COUNTY COUNCIL:
_____________________________________
MAYOR
ATTEST:
________________________________
CLERK OF URBAN COUNTY COUNCIL
0706-25:EPT_4914-1198-1662, v. 1