Title
A Resolution authorizing the Mayor, on behalf of the Urban County Government, to execute a Purchase of Service Agreement (PSA) with Commerce Lexington Inc., pursuant to RFP #35-2024, to assist with new business development and existing business retention and expansion, at a cost not to exceed the sum of $209,061.41. [Mayor's Office, Glasscock]
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
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 Purchase of Service Agreement (PSA), which is attached hereto and incorporated herein by reference, with Commerce Lexington Inc., pursuant to RFP #35-2024, to assist with new business development and existing business retention and expansion.
Section 2 - That an amount, not to exceed the sum of $209,061.41, be and hereby is approved for payment to Commerce Lexington Inc., from account #1101-900101-71101, pursuant to the terms of the Agreement, and contingent upon the approval of a pendi...
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