Title
A Resolution authorizing the Mayor, on behalf of the Urban County Government, to execute a Memorandum of Agreement with the Warwick Foundation, Inc., for the relocation of the Peoples Bank Building, at a cost not to exceed $150,000. [Dept. of Planning, Preservation and Development, Paulsen]
Summary
Authorization to execute a Memorandum of Agreement (MOA) with Warwick Foundation, Inc. for the relocation of the Peoples Bank building. This MOA is required to provide funding for the relocation of Peoples Bank. The building is currently located at 343 South BRd.way and will be moved to the corner of Patterson St and West High St, where it will be used by the Warwick Foundation.
The Budgetary impact is $150,000. Funds are Budgeted. (L1614-16)(Paulsen)
Budgetary Implications: Yes
Advance Document Review:
Law: Yes
Risk Management: No
Fully Budgeted: Yes
Account Number: 2606-160401-0001-90511
This Fiscal Year Impact: $150,000.00
Annual Impact:
Project: PEOPLEBANK_2016
Activity: RELOCATION
Budget Reference: 2016
Current Balance: $150,000
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 a 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.
Section 2 - That an amount, not to exceed the sum of $150,000.00, be and hereby is approved for payment to the Warwick Foundation, Inc., from account # 2606-160401-90511, pursuant to the terms of the Memorandum of Agreement.
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