Title
A Resolution authorizing and directing the Mayor, on behalf of the Urban County Government, to execute and submit a Ky. House Bill (HB) 1 Project Grant Application and related documents for up to $10,000,000 in HB 1 funds with the Dept. for Local Government ("DLG") to support Lexington's Transformational Housing Affordability Partnership ("Project"), and to accept this Grant, if awarded; authorizing and directing the Mayor, on behalf of the Urban County Government to execute any documents which are deemed necessary by DLG to carry out this project; authorizing the Mayor to act as the authorized correspondent for this project; and authorizing the Mayor to transfer unencumbered funds within the Grant Budget. [Dept. of Housing Advocacy and Community Development, Lanter]
Summary
Authorization to submit necessary application materials and accept $10,000,000.00 from the Kentucky Department for Local Government (DLG) to support Lexington's Transformational Housing Affordability Partnership planned for property formerly owned by Transylvania University; and authorizing and directing the Mayor to execute any documents which are deemed necessary by DLG to carry out this project; and authorizing the Mayor to act as the authorized correspondent for this project. (L0601-24) (Ruddick/Lanter)
Budgetary Implications: Yes
Advance Document Review:
Law: Yes, 2/24/2025 (Barberie)
Risk Management: No
Fully Budgeted: BA #13526 is in process
Account Number: 3400-160203-0001-78112
This Fiscal Year Impact: $10,000,000.00
Annual Impact: $0
Project: AH_Radclif_2025
Activity: STA_GRANT
Budget Reference: 2025
Current Balance: BA #13526 is in process
Body
WHEREAS, Lexington-Fayette County ("Lexington") desires to promote and carry out community development efforts on behalf of the residents of the Lexington by supporting the HB 1 Project; and
WHEREAS, it is recognized that HB 1 monies available to Lexington for the purposes stated herein, pursuant to 2024 Kentucky General Asse...
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