Lexington-Fayette Urban County Government - File #: 0674-14

• File #: 0674-14
• Version: 1
• Name: Council authorization to execute Supplemental Agreement No. 3 with the Kentucky Transportation Cabinet, accepting additional federal funds in the amount of $743,101 for the Newtown Pike Extension Project and to approve escrow agreement for supplemental re
• Type: Resolution
• Status: Approved
• File created: 6/20/2014
• In control: Urban County Council
• On agenda: 7/8/2014
• Final action: 7/8/2014
• Enactment date: 7/8/2014
• Enactment #: R-416-2014
• Title: A Resolution authorizing and directing the Mayor, on behalf of the Urban County Government, to execute Supplemental Agreement No. 3 with the Ky. Transportation Cabinet, for the acceptance of additional funds for the Newtown Pike Extension Project in the amount of $743,101 for establishing a Supplemental Rent Fund ($194,928), a Capital Improvement Fund ($348,173), an Education and Social Services Fund ($50,000), a Design Mitigation Fund ($100,000) and a Temporary Housing Fund ($50,000), the acceptance of which does not obligate the Urban County Government for the expenditure of funds, and authorizing the Mayor to execute an Escrow Agreement with Davis Parks View, LLLP, for use of the Supplemental Rent Fund. [Div. of Grants and Special Programs/Dept. of Planning, Preservation and Development, Gooding/Paulsen]

Date	Ver.	Action By	Action	Result
7/8/2014	1	Urban County Council	Approved	Pass
7/1/2014	1	Urban County Council	Received First Reading
7/1/2014	1	Urban County Council Work Session	Approved and Referred to Docket	Pass

Title
A Resolution authorizing and directing the Mayor, on behalf of the Urban County Government, to execute Supplemental Agreement No. 3 with the Ky. Transportation Cabinet, for the acceptance of additional funds for the Newtown Pike Extension Project in the amount of $743,101 for establishing a Supplemental Rent Fund ($194,928), a Capital Improvement Fund ($348,173), an Education and Social Services Fund ($50,000), a Design Mitigation Fund ($100,000) and a Temporary Housing Fund ($50,000), the acceptance of which does not obligate the Urban County Government for the expenditure of funds, and authorizing the Mayor to execute an Escrow Agreement with Davis Parks View, LLLP, for use of the Supplemental Rent Fund. [Div. of Grants and Special Programs/Dept. of Planning, Preservation and Development, Gooding/Paulsen]
Summary
Authorization to execute Supplemental Agreement No. 3 with the Kentucky Transportation Cabinet, accepting additional federal funds for the Newtown Pike Extension Project and to approve escrow agreement for supplemental rent fund with Davis Park View, LLLP. (L0674-14) (Gooding/Paulsen)
This is a request to execute Supplemental Agreement No. 3 with the Kentucky Transportation Cabinet, accepting additional federal funds in the amount of $743,101 for the Newtown Pike Extension Project and to approve escrow agreement for supplemental rent fund with Davis Park View, LLLP. This increase brings the new total contract cost to $17,306,101. No matching funds are required. Budget amendment is in process.

Budgetary Implications: YES
Advance Document Review: Law/Risk Management
Fully Budgeted: Budget amendment in process
Account Number:
This Fiscal Year Impact:
Annual Impact: $743,101
Project:
Activity:
Budget Reference:
Current Balance: Budget amendment in process
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 Go...