Title
A Resolution authorizing the Mayor, on behalf of the Urban County Government, to execute a Memorandum of Agreement with Commerce Lexington, Inc., related to the Innovation Dr. and Georgetown Rd. Improvement Project, at no cost to the Urban County Government. [Dept. of Environmental Quality and Public Works, Albright]
Summary
Authorization to execute an agreement between Lexington-Fayette Urban County Government (LFUCG) and Commerce Lexington, Inc. and to accept $200,000.00, plus additional required funding (amount to be determined) from Commerce Lexington, Inc. to satisfy the Local Public Agency (LPA) funds match to make improvements to the intersection of Innovation Drive (CS 1185) and Georgetown Rd (US 25). LFUCG will have the work performed, and Commerce Lexington, Inc. will provide all necessary funding that is beyond the Kentucky Transportation Cabinet’s (KYTC) reimbursable funding. (L0912-24) (Albright)
Budgetary Implications: Yes
Advance Document Review:
Law: Yes, Completed by Michael Cravens, 8/29/2024
Risk Management: N/A
Fully Budgeted: Yes
Account Number: 3160-900101-0001-82301
This Fiscal Year Impact: $200,000
Annual Impact: $0
Project: INNOVATION_2024
Activity: FED_GRANT
Budget Reference: 2024
Current Balance: $200,000.00
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 a Memorandum of Agreement, which is attached hereto and incorporated herein by reference, with Commerce Lexington, Inc. related to the Innovation Drive and Georgetown Road Improvement Project.
Section 2 - That this Resolution shall become effective on the date of its passage.
PASSED URBAN COUNTY COUNCIL:
__________________________________
MAYOR
ATTEST:
________________________________
CLERK OF URBAN COUNTY COUNCIL
0912-24:GET:4876-6389-1171, v. 1