Title
A Resolution authorizing and directing the Mayor, on behalf of the Urban County Government, to execute a Development Agreement with the Fayette County Local Development Corporation, for transfer of properties located at 440 and 445 Chestnut St., acquired under the Neighborhood Stabilization Program, for rehabilitation and construction by the Corporation for rental housing for low-income households. [Div. of Grants and Special Programs, Gooding]
Summary
Authorization to execute Development Agreement with Fayette County Local Development Corporation, conveying properties acquired by the LFUCG under the Neighborhood Stabilization Program. (L516-12) (Gooding/Moloney)
This is a request to execute Development Agreement with Fayette County Local Development Corporation, conveying two (2) properties located at 440 and 445 Chestnut St., acquired by the LFUCG under the Neighborhood Stabilization Program. There is no budgetary impact.
Budgetary Implications: NO
Advance Document Review: Law/Risk Management
Fully Budgeted: Yes/No/Partial
Account Number:
This Fiscal Year Impact: $0
Annual Impact: $
Project:
Activity:
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 and directed to execute the Development Agreement, which is attached hereto and incorporated herein by reference, with the Fayette County Local Development Corporation, for transfer of properties located at 440 and 445 Chestnut Street, acquired under the Neighborhood Stabilization Program, for rehabilitation and construction by the Corporation for rental housing for low-income households.
Section 2 - That this Resolution shall become effective on the date of its passage.
PASSED URBAN COUNTY COUNCIL:
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MAYOR
ATTEST:
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CLERK OF URBA...
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