Title
A Resolution authorizing the Mayor, on behalf of the Urban County Government, to execute a Management Agreement with the Friends of the Ky. Theatre for the operation and management of the Ky. and State Theaters, for a term of one year, renewable for four (4) additional one-year terms. [Dept. of General Services, Ford]
Summary
Authorization for the Mayor to execute the Management Agreement with the Friends of the Kentucky Theatre (FOKT). This Agreement is for the day-to-day operation and management of the Kentucky and State Theaters, located at 212 and 218 East Main Street. This Agreement will begin on November 1, 2021 and expires on October 31, 2022. The lease shall automatically renew for four (4) additional terms of one (1) year each. The Friends of the Kentucky Theatre will remit 10 percent of gross receipts generated through operation of the theatre to LFUCG. In addition, LFUCG will also receive 5 percent of gross receipts of special events hosted by the management team (FOKT).
Budgetary Implications: Yes
Advance Document Review:
Law: Yes, Completed by Carlos Ross, September 16, 2021
Risk Management: No
Fully Budgeted: BA in process
Account Number: 4022-900106-0001-71299
This Fiscal Year Impact: $
Annual Impact: $
Project:
Activity:
Budget Reference:
Current Balance: BA in process
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 Management Agreement, which is attached hereto and incorporated by reference, with the Friends of the Kentucky Theatre for the operation and management of the Kentucky and State Theaters, for a term of one year, renewable for four (4) additional one-year terms.
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
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