Title
Authorization to execute a Purchase of Services Agreement (PSA) with economic development partner agency Commerce Lexington, pursuant to RFP 35-2024. On May 5, 2026, the Lexington Economic Development Investment Board approved contracting with Commerce Lexington for a term of July 1, 2026, to June 30, 2027, to assist LFUCG with New Business Development and Existing Business Retention and Expansion. At a cost of $209,061.41. Funds are included in the FY27 budget. (L0522-26)(Glasscock/Atkins)
Summary
Authorization to execute a Purchase of Services Agreement (PSA) with economic development partner agency Commerce Lexington, pursuant to RFP 35-2024. On May 5, 2026, the Lexington Economic Development Investment Board approved contracting with Commerce Lexington for a term of July 1, 2026, to June 30, 2027, to assist LFUCG with New Business Development and Existing Business Retention and Expansion. At a cost of $209,061.41. Funds are included in the FY27 budget. (L0522-26)(Glasscock/Atkins)
Budgetary Implications [select]: Yes
Advance Document Review:
Law: { Yes, Completed by [Tiffany Holskey, 6/8/2026]}
Risk Management: {Select Yes/No, Completed by [Official, Date]}
Fully Budgeted [select]: Yes
Account Number: 1101-900101-0001-71101
This Fiscal Year Impact: $209,061.41
Annual Impact: NA
Project:
Activity:
Budget Reference:
Current Balance: BA in FY 27 to move funds from placeholder to agency chartstring
Body
{COUNCIL CLERK’S OFFICE WILL COMPLETE - Body of resolution or ordinance}