Title
A Resolution authorizing and directing the Mayor, on behalf of the Urban County Government, to execute Purchase of Service Agreements with: (1) Commerce Lexington, Inc. ($457,000); (2) the Downtown Lexington Corporation d/b/a Downtown Lexington Partnership ($363,470); (3) LexArts, Inc. ($489,050); (4) the Lyric Theatre and Cultural Arts Center, Inc. ($150,000); (5) Urban League of Lexington - Fayette County, Inc. ($90,000); and (6) Ky. World Trade Center, Inc. d/b/a World Trade Center Ky. ($55,000), to provide economic development services for the Urban County Government, at a total cost not to exceed $1,604,520 for FY 2019. [Mayor's Office, Atkins]
Summary
Authorization to execute Purchase of Services Agreements with economic development partner agencies to provide economic development services for the government for FY2019; Commerce Lexington ($457,000), Downtown Lexington Partnership ($363,470), LexArts ($489,050), Lyric Theatre & Cultural Arts Center ($150,000), Urban League of Lexington-Fayette County ($90,000), and World Trade Center Kentucky ($55,000). Funds are Budgeted. (L0676-18) (Atkins)
Budgetary Implications: Yes
Advance Document Review:
Law: { Select Yes/No, Completed by [Attorney Name, Date]}
Risk Management: {Select Yes/No, Completed by [Official, Date]}
Fully Budgeted: Yes
Account Numbers:
Commerce Lexington ($457,000) 1101-900101-0001-71101
Downtown Lexington Partnership ($363,470) 1101-900111-0001-71101
LexArts ($489,050) 1101-900109-0001-71101
Lyric Theatre & Cultural Arts Center ($150,000) 1101-900107-0001-71101
Urban League of Lexington-Fayette County ($90,000) 1101-900206-0001-71101
World Trade Center of Kentucky ($55,000) 1101-900104-0001-71101
This Fiscal Year Impact: $1,604,520
Annual Impact: $1,604,520
Project:
Activity:
Budget Reference:
Current Balance: $1,604,520.00
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 and directed to execute the Purchase of Service Agreements, which are attached hereto and incorporated by reference, with: (1) Commerce Lexington, Inc.; (2) The Downtown Lexington Corporation d/b/a Downtown Lexington Partnership; (3) LexArts, Inc.; (4) The Lyric Theatre and Cultural Arts Center, Inc.; (5) Urban League of Lexington - Fayette County, Inc.; and (6) Kentucky World Trade Center, Inc. d/b/a/ World Trade Center Kentucky, to provide economic development services for the Urban County Government for FY 2019.
Section 2 - That an amount, not to exceed the total sum of $1,604,520.00, be and hereby is approved for payment from FY 2019 funds to: (1) Commerce Lexington, Inc. ($457,000.00) from account number 1101-900101-0001-71101; (2) The Downtown Lexington Corporation d/b/a Downtown Lexington Partnership ($363,470.00) from account number 1101-900111-0001-71101; (3) LexArts, Inc. ($489,050.00) from account number 1101-900109-0001-71101; (4) The Lyric Theatre and Cultural Arts Center, Inc. ($150,000.00) from account number 1101-900107-0001-71101; (5) Urban League of Lexington - Fayette County, Inc. ($90,000.00) from account number 1101-900206-0001-71101; and (6) Kentucky World Trade Center, Inc. d/b/a World Trade Center Kentucky ($55,000.00) from account number 1101-900104-0001-71101, pursuant to the terms of the respective Purchase of Service Agreements.
Section 3 - That is Resolution shall become effective on the date of its passage.
PASSED URBAN COUNTY COUNCIL:
________________________________
MAYOR
ATTEST:
________________________________
CLERK OF THE URBAN COUNTY COUNCIL