Title
A Resolution authorizing the Mayor, on behalf of the Urban County Government, pursuant to the Jobs Fund Program, to execute an Incentive Agreement and related documents with Identify 3D in an amount not to exceed $100,000, for the creation and retention of at least four (4) new jobs with an average hourly wage of at least $48.08, exclusive of benefits. [Mayor’s Office, Atkins]
Summary
Authorization to execute a Jobs Fund incentive Agreement with Identify 3D in the amount of $100,000 for the creation of at least four (4) new jobs at an average salary of $48.08 hourly. The Economic Development Investment Board reviewed an application for incentives from the Co The board voted to approve an incentive in the amount of $100,000 for Identify 3D for the creation of at least four (4) new jobs to incentivize the Co.’s growth and expansion in Lexington. Funds are Budgeted. (L0055-17)(Atkins)
Budgetary Implications [select]: Yes
Advance Document Review:
Law: { Yes, Completed by [Attorney Edwards, November 2016]}
Risk Management: {Select Yes/No, Completed by [Official, Date]}
Fully Budgeted [select]: Yes
Account Number: 1144-136101-0001-78103
This Fiscal Year Impact: $100,000
Annual Impact: $0
Project:
Activity:
Budget Reference:
Current Balance: $1,546,485.36
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, pursuant to the Jobs Fund Program, be and hereby is authorized to execute the Incentive Agreement, which is attached hereto and incorporated by reference, and any related documents, with Identify 3D in an amount not to exceed $100,000.00, for the creation and retention of at least four (4) new jobs with an average hourly wage of at least $48.08, exclusive of benefits.
Section 2 - That an amount, not to exceed the sum of $100,000.00, be and hereby is approved for payment to Identify 3D from account #1144-136101-0001-78103, pursuant to the terms of the Loan Agreement and any related documents.
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