Title
A Resolution authorizing the Mayor, on behalf of the Urban County Government, to execute a Lease Agreement with Winmar Corporation for the property located at 125 Lisle Industrial Ave., for space to be used by the LFUCG Wellness Center. [Div. of Facilities and Fleet Management, Baradaran]
Summary
Approval to enter into a lease Agreement with Winmar Corporation at 125 Lisle Industrial Ave., for space to be used by the LFUCG Wellness Center. The initial term of this Agreement will be for a period of five (5) years, beginning July 1, 2021 and ending June 30, 2020 with five (5) one (1) year automatic rollovers options. Years1 to 3 annual rent will be $195,586.00, additional years will increase (shown in Exhibit B) (1153-20, Baradaran/Conrad)
Budgetary Implications: Yes
Advance Document Review:
Law: Yes, Completed by Megan Griffith, November 12, 2020
Risk Management: NA
Fully Budgeted: To be included in FY 2022 Budget request
Account Number: 6002_160504_1841_71302 FY 2022
This Fiscal Year Impact: $0.00
Annual Impact: $195,586.00
Project:
Activity:
Budget Reference:
Current Balance: $79,555.46
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 Winmar Corporation for the property located at 125 Lisle Industrial Ave to be used as the LFUCG Wellness Center, in consideration of annual rent in the amount of $195,586.00 for years 1 to 3, with additional annual increases as outlined in the Agreement for years 4 and 5.
Section 2 - That payment is hereby authorized to be made to Winmar Corporation from Account Number 6002-160504-1841-71302 as outlined in the Agreement.
Section 3 - That this Resolution shall become effective on the date of its passage.
PASSED URBAN COUNTY COUNCIL:
___________________________________
MAYOR