Title
A Resolution authorizing the Mayor, on behalf of the Urban County Government, to execute an Amendment to Memorandum of Agreement with the Warwick Foundation, Inc., for the relocation of the Peoples Bank Building, to provide additional funding in an amount not to exceed $150,000. [Dept. of Planning, Preservation and Development, Paulsen]
Summary
Authorization to amend the Memorandum of Agreement (MOA) with Warwick Foundation, Inc. for the relocation of the Peoples Bank building increasing the Agreement amount to $300,000.00. $150,000.00 is currently Budgeted. A Budget amendment is in progress to allocate an additional $150,000.00 to the project. (L0497-16) (Paulsen)
Budgetary Implications: Yes
Advance Document Review:
Law: Yes, Completed by David Barberie, 4/26/2016
Risk Management: No
Fully Budgeted: BA 7405 in process
Account Number: 1101-160401-0001-90511
This Fiscal Year Impact: $150,000.00
Annual Impact:
Project:
Activity:
Budget Reference:
Current Balance: BA 7405 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 to execute an Amendment to Memorandum of Agreement, which is attached hereto and incorporated herein by reference, with the Warwick Foundation, Inc., for the relocation of the Peoples Bank Building, to provide additional funding for the project.
Section 2 - That an additional amount, not to exceed the sum of $150,000.00, be and hereby is approved for payment to the Warwick Foundation, Inc., from account # 1101-160401-90511, pursuant to the terms of the Amendment to Agreement and subject to the approval of a pending Budget amendment.
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