Title
A Resolution authorizing the Mayor, on behalf of the Urban County Government, to execute a Lease Agreement with Lexington Downtown Development Authority, Inc., for space located in the Phoenix Building at 101 East Vine St. [Dept. of General Services, Reed]
Summary
Authorization to enter into a Lease Agreement with Lexington Downtown Development Authority (LDDA) for space within the Phoenix Building located at 101 East Vine Street. The area consists of approximately 516 square feet and is located on the first floor of the building. LFUCG will receive Fair Market Value, or the annual rental rate of $8,926.20, for use of the space. (L0803-15)(Reed)
Budgetary Implications: Yes (Revenue)
Advance Document Review: Department of Law
Fully Budgeted: Yes
Account Number: 1101-011001-0001-42181
This Fiscal Year Impact: $0.00
Annual Impact: $8,926.20 (Revenue)
Project:
Activity: Change Order
Budget Reference:
Current Balance:
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 the Lease Agreement, which is attached hereto and incorporated herein by reference, with Lexington Downtown Development Authority, Inc., for space located in the Phoenix Building at 101 East Vine Street.
Section 2 - That this Resolution shall become effective on the date of its passage.
PASSED URBAN COUNTY COUNCIL:
___________________________________
MAYOR
ATTEST:
________________________________
CLERK OF URBAN COUNTY COUNCIL