Title
A Resolution authorizing and directing the Mayor, on behalf of the Urban County Government, to execute Amendments to the Purchase of Service Agreements with Commerce Lexington Inc. ($100,716) and Euphrates International Investment Co., LLC ($89,283), for additional economic development services for the Urban County Government, at an additional cost not to exceed the sums stated; effective upon passage of Council. [Mayor's Office, Atkins]
Summary
Authorization to execute amendments to Purchase of Services Agreements (PSAs) with economic development partner agencies, in the amount of $190,000. Funds are Budgeted. (L0078-21) (Atkins)
Budgetary Implications: Yes
Advance Document Review:
Law: { Yes, Completed by [Evan Thompson, Date]}
Risk Management: {Select Yes/No, Completed by [Official, Date]}
Fully Budgeted: BA 10950 in process
Account Number: 1101-900101-0001-71101 $100,716
1101-900113-0001-71101 $89,284
This Fiscal Year Impact: $190,000.00
Annual Impact: N/A
Project:
Activity:
Budget Reference:
Current Balance: BA 10950 in process
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 Amendments to the Purchase of Services Agreements, which are attached hereto and incorporated herein by reference, with the following economic development partner agencies: Commerce Lexington Inc. ($100,716.00) and Euphrates International Investment Company, LLC ($89,283.00), for additional economic development services for the Urban County Government, at an additional cost not to exceed the sums stated (cumulatively $189,999.00).
Section 2 - That an additional amount not to exceed $100,716.00 be and hereby is approved for payment to Commerce Lexington Inc. from account # 1101-900101-0001-71101 and that an amount not to exceed $89,283.00 be and hereby is approved for payment to Euphrates International Investment Company, LLC from account 1101-900113-0001-71101, pursuant to the terms of each Amendment to the Purchase of Services Agreement.
Section 3 - That this Resolution shall become effective on the date of its passage.
PASSED URBAN COUNTY COUNCIL: