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A Resolution of the Lexington-Fayette Urban County Council approving the Economic Development Partnership with Madison County, Scott County, and City of Berea, authorizing and directing the Mayor, on behalf of the Urban County Government, to execute an Interlocal Cooperation Agreement, Membership Agreement, and other necessary and related documents, forming the Central Ky. Business Park Authority; and authorizing payment in the amount of $2,125,000 to the Authority for the purpose of carrying out the duties and powers of the Authority as limited by the aforementioned Agreements and relevant state law; all contingent upon approval of the Authority's creation, and execution of all necessary Agreements, by all parties to the Interlocal Cooperation Agreement. [Council Office, Hall]
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WHEREAS, the Lexington-Fayette Urban County Government is responsible for the welfare of the people of Lexington-Fayette County, Kentucky, and
WHEREAS, providing economic opportunity and growth is necessary for the welfare of the people of Lexington-Fayette County, Kentucky, and
WHEREAS, the Lexington-Fayette Urban County Government also recognizes that in the current economic development environment, opportunities for growth May be better realized by partnering with other local governments, and
WHEREAS, the Lexington-Fayette Urban County Council previously passed Resolution No. 537-2024 to approve an Economic Development Partnership with Madison County, Scott County, City of Berea, and City of Georgetown to create the Central Kentucky Business Park Authority and to provide said Authority with $2,125,000.00 to carry out its duties, all of which was contingent upon approval by the other communities;
WHEREAS, one community did not approve the Economic Development Partnership, resulting in the Central Kentucky Business Park Authority not being formed and no funds being distributed;
WHEREAS, subsequently, in an effort to stimulate economic growt...
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