Title
A Resolution authorizing and directing the Mayor, on behalf of the Urban County Government, to execute an amendment to CHDO Agreement with the Fayette County Local Development Corp., for an additional $87,187 in HOME Investment Partnership Program funds for development of rental housing units. [Div. of Grants and Special Programs, Gooding]
Summary
Authorization to execute amendment to Community Housing Development Organization (CHDO) Agreement with Fayette County Local Development Corporation (Urban League) increasing HOME Investment Partnerships Funding in the amount of $87,187. (L573-12) (Gooding/Moloney)
This is a request to execute amendment to CHDO Agreement with Fayette County Local Development Corporation (Urban League) increasing HOME Investment Partnerships Funding in the amount of $87,187. This brings the total contract amount to $317,187. Funds are in the process of being budgeted.
Budgetary Implications: YES
Advance Document Review: Law/Risk Management
Fully Budgeted: BA 4239 in process
Account Number: 3120-900207-0001-71101
This Fiscal Year Impact: $87,187
Annual Impact: $
Project: HOME_2011
Activity: H02
Budget Reference: 2011
Current Balance: BA 4239 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 an Amendment to CHDO Agreement, which is attached hereto and incorporated herein by reference, with the Fayette County Local Development Corporation, for an additional $87,187.00 in HOME Investment Partnership Program funds for development of rental housing units.
Section 2 - That an amount, not to exceed the sum of an additional $87,187.00, be and hereby is approved for payment to the Fayette County Local Development Corporation, from account #3120-900207-71101, pursuant to the terms of the Amendment to CHDO Agreement.
Section 3 - That this Resoluti...
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