Title
A Resolution approving and adopting a Substantial Amendment to the 2012 Consolidated Plan establishing and approving a new Community Development Block Grant Project, 21c Museum Hotel Lexington, and authorizing the Mayor to submit a Section 108 Loan Application, in the amount of $6,000,000, to the U.S. Dept. of Housing and Urban Development for the purpose of loaning the funds to 21c Lexington LLC for the project. [Div. of Grants and Special Programs, Gooding]
Summary
Authorization to approve a Substantial Amendment to the 2012 Consolidated Plan, establishing 21c Museum Hotel Lexington as a new economic development project. (L1088-12) (Gooding/Moloney)
This is a request to approve a Substantial Amendment to the 2012 Consolidated Plan, establishing 21c Museum Hotel Lexington as a new economic development project and to submit a Section 108 loan application to the U.S. Department of Housing and Urban Development in the amount of $6,000,000 for purposes of re-loaning to 21c Lexington LLC. Requires Public Hearing On October 25, 2012.
Budgetary Implications: NO
Advance Document Review: Law/Risk Management
Fully Budgeted: Yes/NO/PARTIAL
Account Number:
This Fiscal Year Impact: $
Annual Impact: $
Project:
Activity:
Budget Reference:
Current Balance: N/A
Body
BE IT RESOLVED BY THE COUNCIL OF THE LEXINGTON-FAYETTE URBAN COUNTY GOVERNMENT:
Section 1 - That the Council of Lexington-Fayette Urban County Government does hereby approve and adopt a substantial amendment to the 2012 Consolidated Plan, which is attached hereto and incorporated herein by reference, establishing and approving a new Community Development Block Grant project, 21c Museum Hotel Lexington, and authorizing the Mayor to submit a Section 108 loan application, in the amount of $6,000,000.00, to the U.S. Department of Housing And Urban Development for the purpose of loaning the funds to 21c Lexington LLC for the project.
Section 2 - That this Resolution shall become effective on the date of its passage.
PASSED URBAN COUNTY COUNCIL:
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MAYOR
ATTEST:
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CLERK OF URBAN COUNTY COUNCIL