Title
A Resolution authorizing the Mayor, on behalf of the Urban County Government, to execute an Agreement with Greater Lex, Inc., to provide $322,000 in funding to Greater Lex, Inc. for the Regional Economic Development Collective. [Mayor's Office, Atkins]
Summary
Authorization to execute an Agreement with Greater LEX for the Regional Economic Development Collective. The Agreement provides funding for the regional Collective as funds will be contributed to the Collective by other governmental and private sector partners across the nine-county region. Each county government(s) is requested to contribute $1 per capita to the Collective toward the work of the regional effort; Fayette County’s contribution totals $322,000. Funds are Budgeted. (L0796-24) (Atkins)
Budgetary Implications: Yes
Advance Document Review:
Law: Yes, Completed by [Tiffany Holskey, 8/14/2024]
Risk Management: NA
Fully Budgeted: Yes
Account Number: 1144-136102-1365-78103
This Fiscal Year Impact: $322,000.00
Annual Impact: NA
Project:
Activity:
Budget Reference:
Current Balance: $322,000.00
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 an Agreement, which is attached hereto and incorporated herein by reference, with Greater Lex, Inc., to provide $322,000.00 in funding to Greater Lex, Inc. for the Regional Economic Development Collective.
Section 2 - That an amount, not to exceed the sum of $322,000.00, be and hereby is approved for payment to Greater Lex, Inc., from account #1144-136102-78103, pursuant to the terms of the agreement.
Section 3 - That this Resolution shall become effective on the date of its passage.
PASSED URBAN COUNTY COUNCIL:
________________________________
MAYOR
ATTEST:
________________________________
CLERK OF URBAN COUNTY COUNCIL
0796-24:TAH:4859-5236-5277, v. 1