Title
A Resolution authorizing the submission of an application for Ky. Economic Development Finance Authority Grant Funds for the Ashland, Inc. Project in the amount of $450,000, and authorizing the Mayor to execute and submit a Grant Application and any and all other documents necessary for the submission of the application and development of the Project, including any agreement with Ashland, Inc., and to accept the Grant funds if approved. [Mayor's Office, Atkins]
Summary
Authorization to submit a grant application to the Kentucky Economic Development Finance Authority for Ashland Inc. in the amount of $450,000 and authorization to execute all documents including an agreement with Ashland Inc. and to accept the grant funds if approved. Ashland Oil is in the process of developing a new site in Lexington. They have requested state funds to assist with the development of the project. The funds would be used to off-set costs for the new development in Lexington. A budget amendment will be processed if approved. (L1500-15)(Atkins)
Budgetary Implications [select]: Yes BA to follow if approved
Advance Document Review:
Law: { Select Yes/No, Completed by [Attorney Name, Date]}
Risk Management: {Select Yes/No, Completed by [Official, Date]}
Fully Budgeted [select]: Yes BA to follow if approved
Account Number:
This Fiscal Year Impact: $
Annual Impact: $
Project:
Activity:
Budget Reference:
Current Balance: BA to follow if approved
Body
WHEREAS, the Lexington-Fayette Urban County Government has determined that it is in the best interest of the government and its citizens to seek Kentucky Economic Development Finance Authority (KEDFA) grant funds for the Ashland, Inc. Project.
NOW THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE LEXINGTON-FAYETTE URBAN COUNTY GOVERNMENT:
Section 1 - That the submission of an application for Kentucky Economic Development Finance Authority (KEDFA) grant funds for the Ashland, Inc. Project in the amount of f...
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