Title
A Resolution authorizing and directing the Mayor, on behalf of the Urban County Government, to execute a Home Agreement with KDVA Homes 2, LLLP, for use of Federal Home Investment Partnership Program funds for construction of affordable rental housing for victims of domestic violence at 4400 Briar Hill Rd., at a cost not to exceed $499,240. [Div. of Grants and Special Programs/Office of the Chief Administrative Office, Gooding/Hamilton]
Summary
Authorization to execute HOME Agreement with KDVA HOMES 2, LLLP for use of federal HOME Investment Partnerships Program funds in the amount of $499,240 for construction of twelve affordable rental housing units at 4400 Briar Hill Road for victims of domestic violence. This project is supported by the 2015 Consolidated Plan and provides for the construction of 12 units at 4400 Briar Hill Road and the acquisition and rehabilitation of 12 existing units at 2517-2525 MacKenzie Lane and 2001 Cambridge Drive. HOME funds will only be used on the Briar Hill Road Construction. Federal funds in the amount of $499,240 will be expended in Fiscal Years 2016-2017. A Budget amendment is in process. (L1605-15)(Gooding/Hamilton)
Budgetary Implications YES
Advance Document Review: NO
Fully Budgeted: BA 7096 is in process
Account Number: 3120-900257-0001-71101
This Fiscal Year Impact: $499,240
Annual Impact: $
Project: HOME_2016
Activity:
Budget Reference: 2016
Current Balance: BA 7096 is 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 the HOME Agreement, which is attached hereto and incorporated herein by reference, with KDVA HOMES 2, LLLP, for use of Federal HOME Investment Partnership Program Funds for construction of affordable rental housing for victims of domestic violence at 4400 Briar Hill Road.
Section 2 - That an amount, not to exceed the sum of $499,240.00, be and hereby is approved for payment to KDVA HOMES 2, LLLP, from account #3120-900257-71101, pursuant to the terms of the HOME Agreement.
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