Title
A Resolution authorizing the Mayor, on behalf of the Urban County Government, to execute a Lease Agreement with the Lexington & Fayette County Parking Authority for space located at 162 East Main St. [Div. of Facilities and Fleet Management, Baradaran]
Summary
Authorization to enter into a lease agreement between the LFUCG and Lexington & Fayette County Parking Authority for space located at 162 East Main Street within the Annex Building. The area is located on the second floor of the facility and consists of approximately 703 Sft of space. The initial term of the agreement will be for a period of twelve (12) months, beginning July 1, 2015 and ending on June 30, 2016 with an option of automatic annual renewal for two (2) additional one year terms. LFUCG will receive Fair Market Value for use of the space with an annual rent of $9,110.88 during the agreement. (L0685-15)(Baradaran/Reed)
Budgetary Implications: Yes (Revenue)
Advance Document Review: Dept of Law - (Charles Edwards III)
Fully Budgeted: Yes
Account Number(s): 1101-011001-0001-42181
This Fiscal Year Impact:
Annual Impact: $9,110.88 (Revenue)
Project:
Activity:
Budget Reference:
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 the Lease Agreement, which is attached hereto and incorporated herein by reference, with the Lexington & Fayette County Parking Authority for space located at 162 East Main Street.
Section 2 - That this Resolution shall become effective on the date of its passage.
PASSED URBAN COUNTY COUNCIL:
___________________________________
MAYOR
ATTEST:
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CLERK OF URBAN COUNTY COUNCIL