Title
A Resolution formally requesting a Product Development Initiative Grant (“Grant”), on behalf of the University of Ky., from the Ky. Economic Development Finance Authority, in the amount of $625,000, to add an internet eXchange point to its Coldstream Research Campus; and authorizing and directing the Mayor, or her designee, on behalf of the Urban County Government, to execute any necessary documents related to the Grant, to accept and distribute the Grant funds to the University of Ky. upon award of the Grant, and to take any other necessary related actions. [Mayor's Office, Atkins]
Summary
Authorization to request a Kentucky Product Development Initiative (KPDI) Grant from the Kentucky Economic Development Finance Authority (KEDFA) in the amount of $625,000 on behalf of the University of Kentucky for its Coldstream Research Campus to add an Internet eXchange point and to provide the funding to the university if awarded. (L0772-23) (Atkins)
Budgetary Implications: No
Advance Document Review:
Law: {Yes, Completed by Evan Thompson}
Risk Management: {Select Yes/No, Completed by [Official, Date]}
Fully Budgeted: N/A
Account Number: N/A
This Fiscal Year Impact: $0
Annual Impact: $0
Project:
Activity:
Budget Reference:
Current Balance:
Body
BE IT RESOLVED BY THE COUNCIL OF THE LEXINGTON-FAYETTE URBAN COUNTY GOVERNMENT:
Section 1 - That the Lexington-Fayette Urban County Government hereby formally requests a Product Development Initiative Grant (“Grant”), on behalf of the University of Kentucky, from the Kentucky Economic Development Finance Authority, in the amount of $625,000.00, to add an Internet eXchange point to the University’s Coldstream Research Campus.
Section 2 - That the Mayor, or her designee, on behalf of the Lexington-Fayette Urban County Government, be and hereby is authorized and directed to execute any necessary documents related to the Grant; to accept and distribute the Grant funds to the University of Kentucky upon award of the Grant; and to take any other necessary related actions.
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
0772-23:EPT:X:\CASES\MOED\23-LE0001\LEG\00789470.DOCX