Title
A Resolution authorizing and directing the Mayor, on behalf of the Urban County Government, to execute a Development Agreement with the town Branch Fund (a component of the Blue Grass Community Foundation, Inc.) and the Lexington Center Corp., for the future development of the Town Branch Park, which is to be located on approximately nine acres of property owned by the Lexington Center Corp. currently known as the Manchester Street Parking Lot, at no cost to the Urban County Government. [Mayor's Office, Peacher]
Summary
Authorization to execute a development Agreement with Town Branch Fund and Lexington Center Corporation to establish roles, to formalize basic terms for a lease, and ensure coordination of the design, construction, and operation of the Town Branch Park. No Budgetary impact. (L1282-18) (Peacher/Reed)
Budgetary Implications: No
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Fully Budgeted: N/A
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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 Town Branch Park Development Agreement, which is attached hereto and incorporated herein by reference, with the Town Branch Fund (a component of the Blue Grass Community Foundation, Inc.) and the Lexington Center Corporation, for the future development of the Town Branch Park, which is to be located on approximately nine acres of property owned by the Lexington Center Corporation currently known as the Manchester Street Parking Lot, at no cost to the Lexington-Fayette Urban County Government.
Section 2 - That this Resolution shall become effective on the date of its passage.
PASSED URBAN COUNTY COU...
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